Customer Data Platform (CDP) is a type of bundled software that creates a consistent and unified database that can access other systems. Data is taken from many sources, cleaned and combined to form a single customer profile. This structured data is then made available to other marketing systems.
So what is CDP for a company that wants to increase customer loyalty by offering a high-end and exclusive experience to its customers through real-time personalization?
In Teradata we define CDP as follows:
Customer Data Platforms (CDPs) are marketer-managed systems that offer 360-degree views of difficult-to-identify customer behavior, help businesses detect and respond to numerous customer issues and opportunities, and make it easier to bring insights to life.
360-Degree Customer View
A CDP system integrates and rationalizes customer data from numerous online and offline sources. Using a customer data platform eliminates problems and inconsistencies that lead to increased costs and a disconnect in the customer experience.
From Customer Data to Insights
Data is meaningless if it is not translated into insights. CDPs use a variety of analytics such as machine learning, statistics, sentiment analysis, customer journey, and others to make sense of your data in a way that translates into actionable insights.
Activating Customer Insights
CDPs facilitate the transformation of insights into actions. A business can run a variety of campaigns at any time. CDP will manage ongoing marketing processes across numerous channels. CDPs blend real-time and integrated, historical data and machine learning to comprehensively personalize communications.
Designed for Marketers and CX Professionals. Unlike traditional data warehouse, installation, maintenance and operation do not require technical expertise. CDP democratizes customer data access and eliminates IT bottlenecks.
Customer Data Platforms (CDPs) give marketers control of data, enabling real-time, unified customer profiles to be created. Vantage CX acts as an enterprise CDP in the cloud. By aiding data acquisition and integration, it provides business users with the ability to integrate and manage millions of customer records with ease, helping businesses deliver superior customer experience.
Channel Connectivity: Self-service data integration capabilities allow citizen data integrators to quickly access and discover new datasets for greater agility.
Connected ID: With Vantage CX, business users can link new datasets to existing customer information to create unified customer profiles.
Labs: Gives business users access to individual sandboxes to store and process data in a way that reduces data movement and ensures governance and security.
Predictive analysis is the analysis of big data to make predictions and determine the likelihood of future outcomes, trends, or events occurring.
Descriptive analysis is the analysis of historical data to determine what is, what has changed, and what patterns can be identified.
Data architecture is a set of rules, policies, standards, and models that govern and determine the type of data collected, and show how this data is used, stored, managed, and integrated within an enterprise and database systems.
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