Data streams are always continuous. It’s not just enough for CDP to ingest all the incoming data, but also analyze it in real-time. A CDP is constantly monitoring all the incoming numbers in real-time. These numbers can be analyzed for patterns and trends, and the probability that an event will happen in a specific location at a specific time.A CDP without real-time support cannot deal with unstructured data and can only do what it’s programmed to do. But a full-fledged CDP with all bells and whistles structures the data on-the-fly and makes mince-meat out of the job of analyzing the numbers.
Customer data platforms are more than just marketing automation tools or customer relationship management systems. They have evolved into a multifaceted system that encompasses data management, intelligent segmentation, and marketing analytics. Finding the proper CDP requires understanding a vendor’s history, technology, and how it fits within the company’s infrastructure.
In the past, companies had to rely on customers’ demographics to create personalized products and services. However, this method is now outdated and costly as data sets are limited. Companies can now use a consumer’s digital footprint (their Google searches, Facebook likes, and Instagram posts) to create products that are tailored to their specific needs. And CDPs make this possible.
