Research done by Ascend2 and Research Partners found that in terms of data-driven marketing objectives 51% of marketers viewed the ability to make more decisions based on data analysis as a top priority.
Customer data platforms (CDPs) aid in this. The CDP Institute defines a customer data platform is “packaged software that creates a persistent, unified customer database that is accessible to other systems.”
Understand customer data platforms (CDPs)
Abbas Makhdum, a Senior Director of Product Marketing for Oracle Marketing, emphasizes three main points in that definition:
“Packaged software.” This means that a CDP is something you buy and not a project IT or an agency can build.
“Unified, persistent database.” This term describes how a CDP takes in data from multiple systems, stores it for as long you want, and uses that data to create complete customer profiles.
“Accessible to other systems.” The data a CDP collects can be shared with other systems, such as a CRM or a DMP.
Watch this short video as Makhdum explains what a CDP is:
To find out more about customer data platforms and how they work with other systems, check out:
- Oracle Unity Customer Data Platform
- CDP vs CRM vs DMP: Their Differences, Capabilities, and How They Can Work Together
- CDP and DMP: What Is the Difference?
- ABCs of CDPs