Customer data platform (CDP): Here’s what it’s all about
Companies are grappling to harness the rising tide of data while also working to meet the expectation of personalization across the customer journey. Yet, without a single view of the customer, organizations can’t gather insights and make meaningful customer connections in the moments that truly matter.
That’s what makes a customer data platform (CDP) one of the most powerful tools in a CX professional’s toolkit. To help you align your CDP needs with your business goals, Oracle has provided the top-five questions to consider when assessing your CDP options.
1. Privacy & consumer-centricity
CDPs should be privacy-focused and able to implement processes for evolving data protection regulations including the General Data Protection Regulation (GDPR), the California Consumer Privacy Act (CCPA), and others in the works. Meeting these requirements can be cumbersome when different consumer data is buried in disconnected systems and can be easily overlooked.
It’s important to consider integration capabilities with privacy, consent, and preference tools to address compliance and put privacy at the forefront of any customer strategy.
2. Flexible data management
Marketers use so many different sources––including email, analytics, CRM, ecommerce, and social sites––and a CDP helps unify all the data from those sources into a unified profile. And because your data is only useful if it’s accurate, a CDP is also helpful to detect and eliminate errors while providing opportunities for data enrichment.
3. Scalable identity management
Almost 60% of brands face challenges confirming identities and reaching the correct person across devices and touchpoints. CDPs also ingest all types of identifiers across the ecosystem from unknown to known. This enables marketers to cleanse and reconcile fragmented identities and match IDs in real-time.
4. Real-time intelligence
An instant, unified view of customers across online and offline touchpoints affords marketers with a competitive advantage. Powered by artificial intelligence (AI), CDPs give marketers access to real-time behavioral data and decisioning for better segmentation and propensity modeling. Coupled with performance reports, brands receive confident direction to drive future optimizations.
5. Omnichannel activation
Leading CDPs integrate with your current solutions across front- and back-office to deliver personalized experiences your customers crave and expect. When all these systems talk to one another, marketers make confident, data-informed decisions to deliver the right message at the right time on the right channel, fitting seamlessly into the consumer’s life.
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