These solutions can help companies consolidate
Companies experiment with testing the impact of varied customer experiences, but they do it in isolation. When they do try to scale, they smack against the challenge of understanding what to prioritise. The challengehas continued to plague marketers, despite the promise of solutions such as customer-relationship management, master-data management and marketing-resource management.
These solutions can help companies consolidate and streamline data, manage segmentation, organise workflow and improve customer relationships Custom Video Production
But they don’t take full advantage of digital signals customers provide. Instead, relying on antiquated “list pulls”, basic segmentation and campaigns, all lack the automated decision-making, adaptive modelling and data utilisation to scale personalised interactions.
Enter the Customer Data Platform (CDP) — a data discovery and “decisioning” (i.e., automated decision-making) platform. The CDP makes it possible for marketers to scale data-driven customer interactions in real time. And CDP is gradually becoming an industry-standard concept, with a small but growing cadre of third-party platforms emerging.
“Feeding” the CDP starts by combining as much data as possible and building on it over time. Creating models that cluster customer profiles that behave and create value in similar ways requires advanced analytics to process the data and machine learning to refine it.
From “The Heartbeat of Modern Marketing: Data Activation and Personalisation”