WHAT IS A CUSTOMER DATA PLATFORM (CDP)?
A Customer Data Platform is packaged software that creates a persistent, unified customer database that is accessible to other systems. The best CDP’s use machine learning and data science to optimize customer engagement.
WHY A CUSTOMER DATA PLATFORM?
A unified customer experience is impossible without unified customer data. Most data originates in separate systems that weren’t designed to share it with anything else. Traditional methods for collecting that data into unified customer profiles, such as an enterprise data warehouse, have failed to solve the problem. Newer approaches, like “data lakes”, have collected the data but failed to organize it effectively. Source: The CDP Institute
IMPORTANT ELEMENTS OF A CDP:
Orchestrate Customer Engagement Across Channels: CDP’s enable you to make the most of every customer interaction based on each customer’s real time needs.
Meaningful Personalization at Scale: A lot of digital personalization is ineffective – based on old data, silo’d data and bad 3rd party data. A CDP can help you build rich first party data and offer personalization that is meaningful to your customers – and drives better results.
Valuable Customer Insights: A CDP enables you to have single view of your customer, and provide a much greater understanding of who your most profitable customers are, what their needs are and how they buy.
HOW DOES REFINED PATH HELP?
Many organizations struggle implementing CDP’s and need specialized help to realize their full value. Refined Path helps organizations assess the kind of platform they need as well as develop and implement customized strategies. We are vendor-agnostic, with more than 50 vendors claiming to offer CDP services, we provide objective advice. Refined Path helps organizations develop use cases, define roles and design collaborative processes to get the most out of your CDP. We can also offer orchestration and media services to assist with your personalized campaigns.
Marketing Tech Outlook selected Refined Path as a Top 10 CDP Solutions Provider. https://customer-data-platform.martechoutlook.com/vendors/top-customer-data-platform-solution-providers-2018.html