According to Gartner marketers' frustration over disconnected customer data has inspired a barrage of solutions from providers. The report offers marketing leaders the use of this guide to understand the adolescent customer data platform marketplace.
An overview of the key findings provides this summary and recommendations:
Recommendations: When evaluating the CDP marketplace, marketing leaders responsible for data and analytics technology:
Marketers are using a variety of systems to design, orchestrate and measure multichannel campaigns. Many of those systems also manage customer-level data and audiences for targeting, but do so in a way that makes orchestrating across channels (and across competitive vendor solutions) a challenge.
CDPs promise to solve for this by centralizing data collection, unifying customer profiles from disparate sources, creating and managing segments, and activating those segments in priority channels. The CDP is not a substitute for the database of record, but it can effectively ensure that customer profile data, transactional events and analytic attributes are available as needed for real-time interactions.
Marketer interest in CDPs continues to accelerate. In the first half of 2018, Gartner client inquiries pertaining to CDPs doubled when compared with the same period of the previous year. 52% of marketing leaders responsible for data and analytics said data management, data integration and formatting are among their most time-consuming activities.
As CDPs reach peak hype, planned adoptions are high, but few organizations have measured their return on investment after deployment. Some would-be buyers are doing their research now, but approaching the market with reluctance. They are taking a "wait and make do" approach with their existing technology, penciling CDPs onto their future roadmaps.