table of contents
- executive summary
- CDP sector overview
- Analysis of decision criteria
- Analyst outlook
- methodology
- About Sue Clark
- About Gigaom
- Copyright
1. executive summary
A customer data platform (CDP) collects and integrates real-time, first-party customer data from multiple online and offline systems to provide a central view of all interactions and touchpoints between each customer and a product or service. A solution that creates a single view. Create profiles for all your customers. This profile can then be accessed by other systems to analyze, track, and manage customer interactions.
CDP collects information from various sources that typically do not communicate with each other. These include systems for customers to interact with your company, such as websites, social media, email, live chat, digital assistants, customer relationship management (CRM) systems, e-commerce solutions, and contact centers. Transaction data, including customer purchases and returns using information from e-commerce or purchase order systems. Demographic data such as name, address, gender, and age.
This information is collated, standardized, transformed, and combined with data from each system to create a more comprehensive customer profile. Data is reformatted to support marketing processes and systems such as CRM, analytics, marketing automation, A/B testing, content creation and personalization, and social media sites. As more data is collected, the content delivered becomes increasingly personalized. CDPs support lead scoring, product recommendations, content optimization, and omnichannel automation.
CDPs also manage data privacy and customer personal rights by controlling and managing the flow of data between marketing systems, ensuring compliance with the European Union's General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CPRA). Customer consent must be managed to comply with regulations such as ). These laws give consumers the right to access their data and the right to exercise the “right to be forgotten” to have it deleted.
Business imperatives
A CDP provides a single place to store all customer data together, creating a single source of truth and potentially replacing multiple applications that store parts of customer profiles. This 360-degree view of the customer allows organizations to create next-best actions and customer recommendations to increase sales and reduce churn. This feature is extremely valuable to marketers who need to create engaging, targeted content and campaigns that keep customers coming back and buying.
There's nothing new about using analytics to personalize retail experiences. This technology has been available for many years. But the idea of ​​a single platform that integrates customer data from disparate sources and provides many of the features needed to manage customer interactions is a no-brainer. segmentation and personalization, A/B/multivariate testing, analytics and insights, cross-channel orchestration, teeth Relatively new.
There are two main types of vendors offering CDPs. The first is a standalone specialized vendor that offers a single solution. These platforms need to be integrated with a digital experience platform (DXP), which is the platform marketers use to create customer experiences. The second type of vendor sells a CDP as part of a DXP platform. More and more DXP vendors are adding CDP to their portfolios. DXPs are becoming increasingly modular, so organizations typically have the choice of implementing a CDP that comes with a DXP, a standalone solution, or no CDP at all. However, the third option puts organizations at a disadvantage, making it much more difficult to build consistent customer profiles and track a customer's journey across multiple touchpoints.
Sector recruitment score
To help executives and decision makers assess the potential impact and value of CDP implementation to their business, this GigaOm Key Criteria report analyzes the sector across five dimensions: benefit, maturity, urgency, impact, and effort. Provides a structured assessment of Provides an overall sector adoption score by scoring each factor based on how strongly it forces or prevents CDP adoption (Figure 1) 4 out of 5, with 5 indicating the strongest recommendation. This indicates that CDP is a reliable implementation candidate and deserves careful consideration.
The factors that contribute to CDP's sector adoption scores are detailed in the sector overview section below.
Key criteria for evaluating CDPs
Sector recruitment score
Figure 1. CDP sector adoption scores
This is the first year that GigaOm has reported on the CDP space in the context of key metrics and radar reporting. This GigaOm Key Criteria report focuses on functional (table stakes, key features, and emerging features) and non-functional requirements (business criteria) for selecting an effective CDP solution. His companion GigaOm Radar report identifies vendors and products that excel in these decision criteria. These reports provide an overview of the market, identify key CDP products, and help decision makers evaluate these solutions to make more informed investment decisions.
GIGAOM Key Standards and Radar Reports
The GigaOm Key Criteria report provides a detailed decision-making framework for IT and executives evaluating enterprise technologies. Each report defines relevant functional and non-functional aspects of solutions within the sector. The Key Criteria report feeds into the GigaOm Radar report, which provides a forward-looking assessment of vendor solutions in this space.