The Customer Data Platform (CDP) has been recognized as an essential tool for brands across every sector.
In the quest towards unlocking the potential of their customer information The first step was to put all the data organized. The CDP can help and is the best place to store and manage all of your information from all over the company and give your team the complete and accurate knowledge of each customer.
The necessity of removing silos and organising your data is just as crucial as it’s ever been in addition, this is why the CDP market is continuing to expand.
The CDP Institute also reports that there is a steady increase in the field as businesses prepare for a post-pandemic environment in which the significance of data and digital experiences will only increase.
With an ever-changing technology landscape that is, where trends change as fast as they appear it appears that the CDP will not go away.
The ever-changing requirements on CDP
However, CDP providers aren’t able to stand at a standstill. As the requirements on the marketing and product teams have increased to give them an edge in the market with outstanding online experiences, so too have the demands placed on CDP.
Understanding every customer and knowing their individual desires and requirements – is not enough anymore. The expectations from the CDP have grown beyond merely managing data and now utilizing the information to generate value.
In the present, a CDP is now being asked to do more than data plumbing. It’s now being asked to look at every customer in a unique way. To anticipate what they will be looking to do or see in the future. Make decisions based on previous behavior or context. Also, to connect with users across all channels and at the right time and with the right message.
Alongside these needs for more advanced capabilities, companies are using their CDP to streamline the increasingly complicated technology stack. They’ve realized the benefits of using a CDP with an experimentation or personalization tool can improve efficiency and effectiveness. It can also make the process a lot more straightforward for users.
The Sitecore CDP
Sitecore CDP is specifically designed to do all of these. It takes the basic capabilities for managing data of CDP, but adds the capabilities of a CDP and adds on top of that intelligent decisions, predictive analytics as well as experimentation and orchestration.
The outcome? A tool that unlocks the value of your customers’ information and creates amazing experiences across every channel. It is at the core of your technology stack and functions as your “digital brain” – powering data-driven decision-making, experimentation and orchestration across your entire ecosystem.
The breakdown of the Sitecore CDP
To fully comprehend what capabilities are available to the Sitecore CDP it’s useful to understand the various components.
- CDP: Data Management
The heart of the Smart Hub CDP is the CDP itself, which breaks down the silos of data within your company to link and manage the customer information. It allows you to identify and analyze every customer every moment. This gives you the data needed to provide more relevant and customized experiences.
- Smart: decision-making, predictive analytics, and experiments
The Smart Hub lets you leverage this information to forecast to test, optimize, and predict each customer interaction on every channel. Utilizing the latest technology in predictive analytics, decision-making and real-time experiments using a Smart Hub CDP lets you design better, more data-driven customer interactions for every customer touchpoint.
- Hub: Orchestration
The Hub lets you orchestrate these interactions across each digital application, platform and channel. It allows you to send the right message at the right time, and in the correct place, and also create omnichannel, joined-up experiences for your customers across all channels.
Management of data in the post pandemic environment
It will be interesting to observe what the demand of Smart Hub CDPs evolves in 2021 as companies adapt to a post-pandemic environment. With the emphasis on digital experience increasing, companies are always looking for better and more innovative methods to maximize the value of their data. The Smart Hub CDP could be the ideal starting point.
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