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Added 2 new sections: "Benefits" and "CDP vs DMP", Added 2 additional capabilities in the "Capabilities" section, Added wiki references to "Customer View", "HTTP Cookie", "IP Address", Added reference to the list of customer data platforms (G2Crowd), Added additional 3 major CDP providers
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* marketer-managed;
* marketer-managed;
* unified, persistent, single database for customer behavioral, profile and other data, from any internal or external source;
* unified, persistent, single database for customer behavioral, profile and other data, from any internal or external source;
* consistent identifier that links all of a [[customer data|customer's data]]; and
* consistent identifier that links all of a [[customer data|customer's data]];
* accessible by external systems and structured to support marketers' needs for campaign management, marketing analyses and [[business intelligence]].<ref>{{Cite news|url=https://martechtoday.com/martech-landscape-customer-data-platform-192126|title=What is a Customer Data Platform (CDP)? - MarTech Landscape|date=November 1, 2016|work=MarTech Today|access-date=February 3, 2018|language=en-US}}</ref>
* accessible by external systems and structured to support marketers' needs for campaign management, marketing analyses and [[business intelligence]];<ref>{{Cite news|url=https://martechtoday.com/martech-landscape-customer-data-platform-192126|title=What is a Customer Data Platform (CDP)? - MarTech Landscape|date=November 1, 2016|work=MarTech Today|access-date=February 3, 2018|language=en-US}}</ref>
* provide a 360-degree view of the customer; and
* allow users the capability to predict the optimum next move with a customer.


A [[Data Management Platform]] (DMP) collects anonymous web and digital data. CDPs collect data that is tied to an identifiable individual. Users of CDP can leverage the intelligence to provide more personalized content and delivery.
A [[Data Management Platform]] (DMP) collects anonymous web and digital data. CDPs collect data that is tied to an identifiable individual. Users of CDP can leverage the intelligence to provide more personalized content and delivery.


A [[data warehouse]] or [[data lake]] collects data, usually from the same source and with the same structure of information. While this information can be manually synthesized, neither type of system delivers the identity resolution needed to build a consolidated customer view. Data warehouses are often updated at scheduled intervals whereas CDPs ingest and make available data in real time. In practice, most CDPs use the same technologies as data lakes; the difference is the CDP has built-in features to do additional processing to make the data usable, while a data lake may not.
A [[data warehouse]] or [[data lake]] collects data, usually from the same source and with the same structure of information. While this information can be manually synthesized, neither type of system delivers the identity resolution needed to build a consolidated [[single customer view|single customer view]]. Data warehouses are often updated at scheduled intervals whereas CDPs ingest and make available data in real time. In practice, most CDPs use the same technologies as data lakes; the difference is the CDP has built-in features to do additional processing to make the data usable, while a data lake may not.

==Benefits==
CDPs hold a great deal of promise for enterprises seeking more high-quality engagements with customers, as well as enriching the jobs and capabilities of marketing teams. Benefits include:
* Enhanced ability to react more quickly to changes in markets or customer preferences.
* Drive greater [[customer loyalty|Loyalty business model]] and ROI in organizations.
* Better-quality and more-targeted interactions with partners and vendors.
* Get closer to achieving a 360-degree customer view.
* Provide metrics across a range of marketing initiatives such as website visits, campaign results, content performance and customer journey analysis.<ref>{{Cite web |url=https://www.forbes.com/sites/insights-treasuredata/2018/06/20/the-rise-of-the-customer-data-platform-and-what-it-means-to-businesses/#4f0ad78153a1 |title=The Rise Of The Customer Data Platform And What It Means To Businesses |publisher=Forbes |access-date=April 12, 2019}}</ref>


==Marketing automation systems==
==Marketing automation systems==
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==Customer segmentation==
==Customer segmentation==
A Customer Data Platform allows marketers to truly segment their data at deep levels. Superior customer segmentation means that the marketer can offer the most granular and targeted customer experience without having to continuously try and make customers fit into their predetermined molds.<ref>{{Cite web|url=https://www.one-count.com/2018/04/24/publishers-first-party-data-comeback/|title=Publishing’s First-party Comeback, a timeline|last=Cianfaglione|first=Peter|date=2018-04-24|website=GCN Publishing Inc.|language=en-US|archive-url=|archive-date=|dead-url=|access-date=2019-03-21}}</ref> True customer segmentation is derived from the customer themselves. This means that marketers need a system that offers unified and personalized data views. A customer data platform is the marketer’s solutions to true customer data segmentation.<ref>{{Cite web |url=https://quickpivot.com/customer-data-platform/ |title=Customer Data Platform |publisher=QuickPivot |access-date=June 22, 2018}}</ref>
A Customer Data Platform allows marketers to truly segment their data at deep levels. Superior customer segmentation means that the marketer can offer the most granular and targeted customer experience without having to continuously try and make customers fit into their predetermined molds.<ref>{{Cite web|url=https://www.one-count.com/2018/04/24/publishers-first-party-data-comeback/|title=Publishing’s First-party Comeback, a timeline|last=Cianfaglione|first=Peter|date=2018-04-24|website=GCN Publishing Inc.|language=en-US|archive-url=|archive-date=|dead-url=|access-date=2019-03-21}}</ref> True customer segmentation is derived from the customer themselves. This means that marketers need a system that offers unified and personalized data views. A customer data platform is the marketer’s solutions to true customer data segmentation.<ref>{{Cite web |url=https://quickpivot.com/customer-data-platform/ |title=Customer Data Platform |publisher=QuickPivot |access-date=June 22, 2018}}</ref>

==CDP vs DMP==
Main differences between a Customer Data Platforms (CDP) vs. Data Management Platforms (DMP):

{| class="wikitable"
|-
! Attribute !! CDPs !! DMPs
|-
| Customer data management || Manage an individual customer with a single profile. || Manage segments of customers with anonymous profiles.
|-
| Data sources || Work with both anonymous data ([[HTTP cookies|Cookie]], device IDs and [[IP addresses|IP address]]) and known individual data (e.g. names, addresses, email, phone). || Work mainly with anonymous data (cookies, device IDs and IP addresses).
|-
| Data unification methods || Use sophisticated cleansing and matching algorithms to provide high-quality unified customer profiles. || Use deterministic key matching to track customers and build anonymous profiles across digital channels.
|-
| Data updates || Continuously processes batch and streaming data to keep profiles up to date and accurate. || Updates customer profiles via batch process every one or two days.
|-
| Data maintenance || Maintains customer golden records that persist over time. || Maintains an anonymous customer record for a short period of time.
|}<ref>{{Cite web |url=https://www.cmswire.com/digital-experience/whats-the-difference-between-customer-data-platforms-and-data-management-platforms/ |title=What's the Difference Between CDPs and DMPs? |publisher=CMSWire |access-date=April 12, 2019}}</ref>


==Examples of CDPs==
==Examples of CDPs==
An ever-expanding list of CDPs can be found on the [https://www.cdpinstitute.org/directory CDP Institute Directory]. Major providers include [https://www.actioniq.com/ ActionIQ], [https://www.agilone.com/ AgilOne], [https://www.blueconic.com/ BlueConic], [https://www.custobar.com/ Custobar], [https://datorama.com/ Datorama], [https://www.lytics.com/ Lytics], [https://www.ONE-count.com/ ONEcount], [https://www.optimove.com/ Optimove], [https://www.quaero.com Quaero], [https://quickpivot.com/customer-data-platform QuickPivot], [https://www.retentionscience.com/ Retention Science], [http://www.simondata.com Simon Data], [http://www.tealium.com Tealium] and [http://www.zaius.com Zaius].
An ever-expanding list of CDPs can be found on the [https://www.cdpinstitute.org/directory CDP Institute Directory] or on the [https://www.g2.com/categories/customer-data-platform-cdp G2Crowd] - List of CDPs together with verified user reviews. Major providers include [https://exponea.com/ Exponea], [https://www.evergage.com/ Evergage], [https://blueshift.com/ Blueshift], [https://www.actioniq.com/ ActionIQ], [https://www.agilone.com/ AgilOne], [https://www.blueconic.com/ BlueConic], [https://www.custobar.com/ Custobar], [https://datorama.com/ Datorama], [https://www.lytics.com/ Lytics], [https://www.ONE-count.com/ ONEcount], [https://www.optimove.com/ Optimove], [https://www.quaero.com Quaero], [https://quickpivot.com/customer-data-platform QuickPivot], [https://www.retentionscience.com/ Retention Science], [http://www.simondata.com Simon Data], [http://www.tealium.com Tealium] and [http://www.zaius.com Zaius].


==References==
==References==

Revision as of 15:42, 12 April 2019

A Customer Data Platform (CDP) is a type of packaged software which creates a persistent, unified customer database that is accessible to other systems. Data is pulled from multiple sources, cleaned and combined to create a single customer profile. This structured data is then made available to other marketing systems.[1] According to Gartner, customer data platforms have evolved from a variety of mature markets, "including multichannel campaign management, tag management and data integration."[2]

The CDP market is currently a $300 million industry and projected to reach $1 billion by 2019.[3]

Capabilities

In addition, some CDPs provide additional functions such as marketing performance measurement analytics, predictive modeling, content marketing and Enterprise Campaign Management.

Commonalities across CDPs:

  • marketer-managed;
  • unified, persistent, single database for customer behavioral, profile and other data, from any internal or external source;
  • consistent identifier that links all of a customer's data;
  • accessible by external systems and structured to support marketers' needs for campaign management, marketing analyses and business intelligence;[4]
  • provide a 360-degree view of the customer; and
  • allow users the capability to predict the optimum next move with a customer.

A Data Management Platform (DMP) collects anonymous web and digital data. CDPs collect data that is tied to an identifiable individual. Users of CDP can leverage the intelligence to provide more personalized content and delivery.

A data warehouse or data lake collects data, usually from the same source and with the same structure of information. While this information can be manually synthesized, neither type of system delivers the identity resolution needed to build a consolidated single customer view. Data warehouses are often updated at scheduled intervals whereas CDPs ingest and make available data in real time. In practice, most CDPs use the same technologies as data lakes; the difference is the CDP has built-in features to do additional processing to make the data usable, while a data lake may not.

Benefits

CDPs hold a great deal of promise for enterprises seeking more high-quality engagements with customers, as well as enriching the jobs and capabilities of marketing teams. Benefits include:

  • Enhanced ability to react more quickly to changes in markets or customer preferences.
  • Drive greater Loyalty business model and ROI in organizations.
  • Better-quality and more-targeted interactions with partners and vendors.
  • Get closer to achieving a 360-degree customer view.
  • Provide metrics across a range of marketing initiatives such as website visits, campaign results, content performance and customer journey analysis.[5]

Marketing automation systems

A CDP is fundamentally different in design and function when compared with marketing automation systems, though CDPs provide some of the functionality of marketing systems and customer engagement platforms. CDP tools are designed to talk to other systems. They retain details from other systems that the engagement or automation tool does not. This is valuable for trend analysis, predictive analytics, and recommendations that can leverage historical data.[6]

Customer segmentation

A Customer Data Platform allows marketers to truly segment their data at deep levels. Superior customer segmentation means that the marketer can offer the most granular and targeted customer experience without having to continuously try and make customers fit into their predetermined molds.[7] True customer segmentation is derived from the customer themselves. This means that marketers need a system that offers unified and personalized data views. A customer data platform is the marketer’s solutions to true customer data segmentation.[8]

CDP vs DMP

Main differences between a Customer Data Platforms (CDP) vs. Data Management Platforms (DMP):

Attribute CDPs DMPs
Customer data management Manage an individual customer with a single profile. Manage segments of customers with anonymous profiles.
Data sources Work with both anonymous data (Cookie, device IDs and IP address) and known individual data (e.g. names, addresses, email, phone). Work mainly with anonymous data (cookies, device IDs and IP addresses).
Data unification methods Use sophisticated cleansing and matching algorithms to provide high-quality unified customer profiles. Use deterministic key matching to track customers and build anonymous profiles across digital channels.
Data updates Continuously processes batch and streaming data to keep profiles up to date and accurate. Updates customer profiles via batch process every one or two days.
Data maintenance Maintains customer golden records that persist over time. Maintains an anonymous customer record for a short period of time.

[9]

Examples of CDPs

An ever-expanding list of CDPs can be found on the CDP Institute Directory or on the G2Crowd - List of CDPs together with verified user reviews. Major providers include Exponea, Evergage, Blueshift, ActionIQ, AgilOne, BlueConic, Custobar, Datorama, Lytics, ONEcount, Optimove, Quaero, QuickPivot, Retention Science, Simon Data, Tealium and Zaius.

References

  1. ^ "CDP Basics". Customer Data Platform Institute. Retrieved June 22, 2018.
  2. ^ "The Marketer's Guide to Customer Data Platforms". Gartner. Retrieved May 22, 2018.
  3. ^ Greenberg, Paul. "How customer data platforms can benefit your business | ZDNet". ZDNet. Retrieved March 23, 2017.
  4. ^ "What is a Customer Data Platform (CDP)? - MarTech Landscape". MarTech Today. November 1, 2016. Retrieved February 3, 2018.
  5. ^ "The Rise Of The Customer Data Platform And What It Means To Businesses". Forbes. Retrieved April 12, 2019.
  6. ^ Earley, S. (2018). "The Role of a Customer Data Platform". IT Professional, 20(1), pp. 69–76. https://doi.org/10.1109/MITP.2018.011301803
  7. ^ Cianfaglione, Peter (2018-04-24). "Publishing's First-party Comeback, a timeline". GCN Publishing Inc. Retrieved 2019-03-21. {{cite web}}: Cite has empty unknown parameter: |dead-url= (help)
  8. ^ "Customer Data Platform". QuickPivot. Retrieved June 22, 2018.
  9. ^ "What's the Difference Between CDPs and DMPs?". CMSWire. Retrieved April 12, 2019.

Customer data platform from related digital

What Is A Customer Data Platform from QuickPivot

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