Customer Data Management: Next-Gen Tools for the Retail Industry
Customer data platforms (CDPs), while not widely known, solve a fundamental problem plaguing marketers and consumers alike: the need for unified, accessible customer data to provide uniquely personalized journeys and experiences. Most data is a fragment of information that must be coupled with other fragments from different systems to get the whole picture of a customer. Manually putting the pieces together typically takes weeks or longer. Meanwhile, the customer has moved on—possibly to a competitor. The moment of impact is lost. So is potential revenue. A customer data platform is not another silo to maintain; it’s connective tissue between silos; joining them together into spokes in a central customer profile hub. By streaming in new data as it’s created across any channel and joining it to a customer’s existing operational profile, marketers always have a complete situational picture to deliver smarter interactions.