CDP

Customer Data Platform

A software system that collects integrates and manages customer data from various sources to create a unified, single view of each customer. It enables businesses to understand better and engage with their customers by providing a comprehensive, 360-degree view of customer interactions and behavior across multiple channels. Key characteristics and benefits of a CDP include:

• Data collection: CDPs gather customer data from various touchpoints, such as websites, mobile apps, social media, CRM systems, point-of-sale systems, and more.
• Data integration: The platform cleanses, normalizes, and merges data from different sources, eliminating silos and creating a consistent, unified customer profile.
• Real-time updates: CDPs update customer profiles as new data becomes available, ensuring businesses can access the most up-to-date information.
• Accessibility: The unified customer data is accessible to other systems, such as marketing automation platforms, email marketing tools, or analytics solutions, enabling personalized and targeted customer experiences.
• Segmentation: CDPs allow marketers to segment customers based on various criteria, such as demographics, behavior, or purchasing history, facilitating targeted marketing campaigns and personalized recommendations.
• Privacy and compliance: Reputable CDPs provide tools to manage customer data in compliance with privacy regulations, such as GDPR or CCPA.

CDPs are used by businesses across various industries, including retail, e-commerce, finance, and healthcare, to improve customer acquisition, retention, and loyalty. By leveraging the rich, unified customer data provided by a CDP, companies can deliver more relevant, personalized experiences and optimize their marketing efforts.

• Abbreviation: CDP
• Source: What is a Dustomer Data Platform?