All about Customer Data Platform (CDP)

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All about Customer Data Platform (CDP)

When you want to buy anything, you first search for it over different platforms, study its rating, compare its cost and quality, shipping time, and so on. Here you created a piece of data information about what you want and this information is collected by the company whose products you were looking for. Now that company ads start appearing on different platforms, the website may show changes and look more personalized to what you were looking for. And also you receive automated email follow-ups. Thus, this is what happens when a company uses CDP.

This blog of Terminal Stack explains to you:

  • What is CDP?
  • Why CDP?
  • CDP use cases
  • Some popular CDP’s

Here we go,

What is a Customer Data Platform?

CDP is software that helps marketers and businesses combine customer data from different sources in one place. That is, to get a comprehensive view of what your customer wants and don’t want. This way you can modify your business in a better way. In simpler words, it connects with companies to help them connect with consumers. With a Customer Data Platform, a company can deliver relevant, timely, and personalized experiences to customers across all touchpoints. It captures all the possible information about a customer at every point. And enterprises take the help of CDP to store and analyze this data and hence bring superior customer experience.

CDP mainly helps in:

  • Data Collection: Collect customer data from several tools.
  • Data Governance: Validating and transforming the collected data.
  • Data Processing and consolidation: Combining data to create unified profiles of customers. Hence avoid duplication of profiles.
  • Data Activation: Deploying those profiles to improve your customer experience.
CUSTOMER DATA PLATFORM

Why CDP?

Nowadays, even small companies have many sources that continuously pour in customer data. And this large amount of data needs to be passed onto various sections of the company. These sections may include data warehouse, marketing team, communication team, CRM, Data Lake, behavior analysis, etc. So CDP comes up and acts as the Middle layer in between them. CDP provides a single API or single integration system on a provided code. It collects data from several sources and delivers them to several locations accordingly.

The era of CDP has already begun and is a must for every marketing team. Control of data builds the confidence that your advanced analytics and Machine Learning output is reliable and accurate.

Also read: https://terminalstack.com/big-data-and-its-application/

CDP use cases:

  • Advanced Customer Data Management
  • Online personalization and Experience optimization
  • Real-time Behavioral Analysis
  • Outbound Marketing Campaign Support
  • Ecommerce Recommendation and Optimization
  • B2B Support
  • Predictive Analysis
  • Omnichannel and Offline Aggregation
  • Digital Advertising Support

Some of the Popular CDP’s are:

As we all know to survive your business in today’s environment it is necessary to go digital. Therefore, a business must hold the same importance in the digital world as it does in the real world. And going digital means the ability to be able to connect with your customers, connecting where they are, whichever device they are, modernizing it, choosing the right content, and delivering it to them in right and at right time.

So here, CDP helps you to deal with all these stuffs and hence take your local business to a global level.

Thanks for Reading.

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