Picture this: a complex arrangement of a number of operations, activities, and elements that work in an orchestral manner to give the customer an exceptional performance they will never forget. That is what a modern customer data platform (CDP) can do for your business.
The world of CDPs is changing in ways that may completely reshape how we interact with our customers—change that ranges from shifting buyer personas to the desire for clean and simple solutions over elaborate ones.
Delve into this blog to explore the trends that are paving the way to the future of customer data success.
Evolving Buyer Persona
Software is considered as one of the many needs of an organization and due to the increase in costs, these purchases undergo certain scrutiny from the companies. Currently, buyers seek CDPs that do not cause organizational disruption, are easy to use, show the tangible value of the technology, and can be implemented and utilized rapidly. It was found that within the context of CDP, the IT departments are assuming a more dominant and influential role by focusing more on the performance, scalability, and data governance of CDP. Good CDPs enable privacy-by-design processes, upholding the principles of the GDPR.
“Buying Over Building” or Packaged CDP
The composable CDP model has been rather popular, mainly due to the fact that it consists of different layers which allows you to build your personal CDP. However, its complexity can become a drawback as it is not easily scalable and faces maintenance and compliance issues. Currently, many organizations are moving away from the composable architecture of the CDPs to packaged solutions to reduce costs and get better results.
Why a Packaged CDP is Superior to a Composable CDP
Here is why you should opt for a packaged CDP over a composable one.
Simplified Implementation
Modern CDPs offer a comprehensive solution with pre-built integrations and flexibility, making deployment faster and easier than building a CDP from scratch. It scales with your business and integrates seamlessly with your existing tools, enhancing customer experience without the complexity of a custom-built system.
Comprehensive Support and Maintenance
It provides continuous support, including training, software updates, security patches, and troubleshooting. This reduces the burden on your IT team and ensures your CDP remains secure and current.
AI Strategies: Why Data Quality is Crucial for CDPs
AI is rapidly evolving and is expected to drive transformation similar to the impact of COVID. However, the rush to adopt AI comes with risks, especially if fueled by poor-quality data. Bad data can undermine AI models and erode customer trust. Ultimately, a strong AI strategy boils down to your data strategy. While AI and ML are increasingly commoditized, the key differentiator will be the quality of data you provide to these models.
To achieve the set goals and objectives of your AI development, it is imperative that you fully invest in reliable tools. Modern platforms provide consented, filtered, and enriched data in real-time which easily integrates with your AI models. When used for training, feeding, fine-tuning, or activating results, they link your AI tools to your data and customers to increase efficiency and precision.
