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A customer data platform, commonly known as a CDP, is a marketer-managed system used to collect customer data from all sources, normalize it, and create unique, unified profiles of each customer. The result is a unified, persistent customer database that shares data with other marketing technology systems. The idea of a unified view of the customer has been on marketers’ wish lists for years. But the disruption caused by the global COVID-19 pandemic has sparked interest in exactly the kinds of solutions CDPs provide, including this single view of the customer. As the pandemic drives the shift of customer interactions, both B2B and B2C, to digital channels, marketers are increasingly interested in technologies that collect data from these interactions, unify them, provide information and allow the orchestration of campaigns.
Everything you need to know about the customer data platform
What is the data collection capacity of a CDP?
A customer data platform, also known as a consumer data platform or audience data platform, connects to a variety of systems and data sources within an organization through built-in connectors, SDKs, webhooks, and APIs. It ingests all types of data, including profile data and real-time interaction data (behavioral data, demographic data, transactional data), campaign data, product data, customer support data, mobile data, POS data, marketing data, device data, IoT data, and more.
How does a customer data platform work?
A CDP connects to a variety of technology platforms, data sources, and channels through built-in connectors, SDKs, webhooks, and APIs. They ingest and integrate data from multiple sources. This includes profile data and real-time interaction data (behavioral and transactional), campaign data, product data, customer service data, mobile data, POS, marketing, device and Internet of Things (IoT).
A customer data platform takes these data sets and integrates them to create a single, unified customer profile. This integration process is called identity resolution or data unification. Customer identity resolution involves sophisticated algorithms to merge identifiers from different systems, automate graphs, and continuously integrate data into a profile as customers take action in real time. During the unification process, data is validated, cleaned, and duplicated to create a single view of the customer. The profiles are then enriched with data from a second and third source to fill in missing attributes and update other attributes with more recent information.
CDPs can also analyze and segment customer profiles using rules or machine learning, perform predictive scoring, and use journey orchestration capabilities. Some more advanced CDPs offer machine learning (ML) and artificial intelligence (AI) for predictive analytics and audience segmentation. With journey orchestration, marketers can analyze customer interactions throughout the customer journey to deliver the right messages at the right time through the right channels.
Key Benefits of Customer Data Platforms
- Single view of the customer: CDPs are specifically designed to collect data from a wide range of sources, unify it to form a comprehensive view of the customer across devices and channels, and then make that data available to other systems. That customer view can move with your business and your customers wherever it’s needed.
- Agility: A CDP provides organizations with a tool to build and connect a flexible technology stack that adapts to ever-changing consumer behavior and changing technology trends. By focusing on the database, CDPs give companies tools to collect data from everywhere and use it anywhere to drive better customer experiences.
- Democratization of data: The value of customer data extends throughout any business. Marketing, business intelligence, customer service and beyond all depend on the availability of data to drive business. A CDP democratizes access to and the ability to leverage customer data across organizational departments and customer touch points.
- More effective customer experience and marketing: Customers are using more channels and devices than ever before and have high expectations for a consistent customer experience. Customers don’t like it when a product is advertised online that they bought in store. With a CDP in place, organizations gain a comprehensive view of customer behavior that can be used to drive the most comprehensive customer experience possible with no blind spots.
- Operational Efficiency: Integrating point solutions and configuring new technologies and tools used to be resource-intensive, but also unreliable, as custom solutions can be difficult to maintain. CDPs centralize customer data with maintained turnkey integrations that save hours of integration work. Additionally, audiences and business rules are centrally configured in one place and can be applied across multiple tools, saving a lot of duplication effort between them.
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