Customer Data Platform (CDP)
What is a Customer Data platform or (CDP)?
A Customer Data Platform is a system that businesses use to collect, process and integrate customer data from multiple points of contact during the customer journey.
What is the difference between CDP and DMP?
The Customer Data Platform is not to be mistaken with DMP or a Data Management Platform.
A DMP is a centralized database used for developing audiences to support advertising initiatives. The CDP is an SoI that presents data from numerous sources in order to develop personalized content at scale.
The Customer Data Platform is a novel system for collecting customer data. It does this by authenticating Personally Identifiable Information from both online and offline sources in real-time.
A customer data platform (CDP) communicates with other applications to gather necessary information and then provides it to downstream systems so they can act on the data.
Company records are not all the same- some have been proven to be more useful than others. The Customer Data Platform has shown to be the most helpful for companies that otherwise had fragmented customer data.
The SoI brings data from many different sources together, sends it downstream to service activation for more personalized activities. While marketing can trigger campaign activity in the absence of an SoE.