Customer data platform

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A Customer[1] Data Platform (CDP) is a system managed by marketers that compiles and arranges data from a multitude of sources, offering a holistic, integrated perspective of each customer. Its design allows for interaction with other systems and it encompasses certain features of marketing systems and customer interaction platforms. In contrast to a Data Management Platform (DMP), which accumulates anonymous online data, a CDP collects identifiable individual data. This facilitates personalized content and precise delivery. The phrase ‘Customer Data Platform’ was introduced in 2010, and the sector has expanded significantly since then, owing to the platform’s sophisticated integration tools and abilities. The projected revenue for the CDP industry in 2022 stands at $1.9 billion.

Terms definitions
1. Customer ( Customer ) The main keyword in this text is 'customer.' A customer refers to a person or entity that acquires goods or services from a company. They play a vital role in the business environment, establishing connections with companies via transactions. Customers may also be referred to as 'clients,' particularly when they obtain customized advice or solutions from a company. The term 'client' is derived from Latin, suggesting a tendency to lean or bend towards a company. Customers come in various forms - from final customers who directly purchase products or services, to industrial customers who integrate these products or services into their own offerings. These customers can hold different positions in relation to the business, such as being employers in construction endeavors. Companies often divide their customers into distinct groups, like business owners or final users, to better comprehend and cater to them. The comprehension and handling of customer relationships is a crucial field of research and application in business.

A customer data platform (CDP) is a collection of software which creates a persistent, unified customer database that is accessible to other systems. Data is pulled from multiple sources, cleaned and combined to create a single customer profile. This structured data is then made available to other marketing systems. According to Gartner, customer data platforms have evolved from a variety of mature markets, "including multichannel campaign management, tag management and data integration."

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