The Elusive Single View of the Customer – EDW, DMP, CDP, CDH…OMG!
Call it what you want — the customer 360, a single view of the customer, a unified customer profile — it’s clear that, as businesses, we need it. What’s not as clear is how to pick a technology to pull it off.
In a recent Experian report* on data quality, 99% of companies reported
that a single customer view is important to their business, yet only 24% claimed having one.
With the number of technologies vying for this central component of the tech stack (not to mention the number complicating things by providing another stream of data), it’s bewildering to even consider where to begin. And looking at promises on the market…vendors aren’t making it easy. Compare these two descriptions from companies with drastically different technology:
Company #1 – a DMP
Integrate online and offline data into a single customer profile, Analyze customers, gain insights, and use predictive analytics, Orchestrate personalized engagement across channels
Company #2 – a CDP
A customer database platform that seamlessly integrates multiple data sources to create a comprehensive 360 degree view of your customer, allowing you to create and execute highly targeted marketing campaigns
Sound the same, right? These murky claims are pervasive and frustrating.
EDWs (enterprise data warehouses), DMPs (data management platforms), CDPs (customer data platforms), the CDH (Customer Data Hub), Personalization vendors…even legacy CRM and Web Analytics systems are competing to be this unified source of data that feeds all other enterprise systems. BUT, it’s not an even playing field and it’s essential to know the strengths and weaknesses of each solution prior to committing to such a critical piece of technology infrastructure.
Evaluating vendors in each category with the following litmus test helps identify the ideal technology to pull off the single view of the customer:
- Data Collection – ability to manage collection of data via tags or APIs.
- Audience Creation – segment audience based on attributes and behavior.
- Turnkey Channel Integrations – connecting to all potential data sources.
- Real-time – really real-time, not batched, not once per hour.
And 6 more critical criteria…Watch now to get the full list!
It’s important to consider both current features AND the origin of the technology to determine whether a feature is simply bolted on to check a feature box or if the feature provides genuine value as reflected in the DNA of the company.