When it comes to delivering a great customer experience, there’s no better tool than the customer data platform (CDP). But what exactly is a CDP? You need to read a proper guide to CDPs before starting. In this blog post, they’ll share some of its key characteristics and dive into how they can help your business achieve its goals.
Collect and Harmonize Data From Any Source
If you have ever used a CDP, then you know that the data is the most important part of it. Without good data, your CDP will not be able to deliver what it’s supposed to: insights that can help transform your company.
“A human could never organize and analyze complete data generated by customers, especially for enterprises with hundreds and thousands of clients,” as said by Adobe Real-Time CDP experts.
For this reason alone, it is essential to ensure that all sources of information are being collected and harmonized into one source of truth. This means that all your data needs to be compliant with regulatory standards (i.e., financial regulators) as well as secure—and within a single repository where everyone involved has access rights.
Track and Improve Customer Experiences
The best CDPs are able to track and improve customer experiences. These programs use data to drive continuous improvement in the areas that matter most. For example, is your organization focused on identifying the right customers? Are you using your data to make informed decisions? If not, you’re missing out on a key capability of successful enterprise CDPs: tracking and improving customer journeys.
One way to track customer experience is through digital ecosystems, which help businesses understand how every aspect—from billing and invoicing to switching providers—affects their overall brand image. When all pieces are working together seamlessly, customers receive better service from start to finish; this means happier employees who’ll stay longer at work because they enjoy their jobs more than ever before!
Execute Personalized Campaigns in Real-Time
Real-time personalization is a key capability you should look for in an enterprise CDP. It allows you to engage with customers at the moment, and it’s a requirement for customer success.
Deliver Learning and Value Through Your Ecosystem
Data is the most valuable asset for any organization. It gives you a competitive advantage and can be used to increase revenue, grow your business, differentiate from competitors and create innovative products.
It’s also a source of customer insights that you can use to improve customer experience and drive growth.
Process Data at Scale to Drive Rapid Innovation
You’ll want to look for a CDP that can support your company’s growth and help you meet your business goals. The ability to scale up, down or both depending on the needs of your business is important. The ability to process data at scale is also crucial in today’s world, where people are generating more data than ever before, and machines and sensors are connected online 24/7/365. This includes processing data in real-time (or near real-time), batch mode or parallel framework.
The customer data platform is the next step in the evolution of enterprise IT. It’s a natural progression from being able to collect and store data all the way to building tools that help you use it in real time. If you want to be on the leading edge of innovation, then CDPs are something to keep an eye on—and maybe even invest in.