Research done by Ascend2 and Research Partners found that in terms of data-driven marketing objectives 51% of marketers viewed the ability to make more decisions based on data analysis as a top priority.
Customer data platforms (CDPs) aid in this. The CDP Institute defines a customer data platform is “packaged software that creates a persistent, unified customer database that is accessible to other systems.”
Abbas Makhdum, a Senior Director of Product Marketing for Oracle Marketing, emphasizes three main points in that definition:
“Packaged software.” This means that a CDP is something you buy and not a project IT or an agency can build.
“Unified, persistent database.” This term describes how a CDP takes in data from multiple systems, stores it for as long you want, and uses that data to create complete customer profiles.
Watch this short video as Makhdum explains what a CDP is: