Behind the Buzzword: Understanding Customer Data Platforms in the Light of Predictive Analytics - David Raab
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Customer Data Platform (CDP) systems are the newest answer to an old question: how to assemble a complete view of each customer. This session explores the reality of what CDPs can and cannot do, how CDPs differ from other systems, the types of CDP systems available, and how to find the right CDP for your purpose, especially with regard to data science projects and predictive modeling. You will come away with a clear understanding of where CDP fits into the larger data management landscape, what distinguishes CDP from older approaches to customer data management, and the state of the CDP industry in Europe.
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Behind the Buzzword: Understanding Customer Data Platforms in the Light of Predictive Analytics - David Raab
- 1. Behind the Buzzword: Customer Data Platforms David M. Raab, CDP Institute Understanding in the light of Predictive Analytics
- 2. 3200 BCE
- 3. 3200 BCE 2013 CE
- 4. 2010 2013 2016 2019 Interest in CDP (Google Trends)
- 5. 2010 2013 2016 2019 Interest in CDP (Google Trends)
- 6. 2010 2013 2016 2019 Interest in CDP (Google Trends) 2010 2013 2016 2019 Interest in CDP (Google Trends) DMP CDP
- 7. CDP Industry Today •100+ vendors •€1 billion revenue •€3 billion investment •50% annual growth rate
- 8. Europe Trails in CDP 81% 75% 71% 58% 58% 38% 36% 67% 65% 59% 32% 41% 43% 39% email social media insight analytics using a CDP social media mgt personalization tracking analytics North America/ROW Europe/ROW
- 9. Europe Trails in Marketing Technology 81% 75% 71% 58% 58% 38% 36% 67% 65% 59% 32% 41% 43% 39% email social media insight analytics using a CDP social media mgt personalization tracking analytics North America/ROW Europe/ROW
- 10. What’s in it for me?
- 11. What’s in it for predictive analytics?
- 12. What’s a CDP?
- 13. Packaged software that builds a = not custom project = faster, lower cost, less risk, more mature Persistent, unified customer database that is = any source, retain full detail, separate data store, organized by customer Accessible to other systems. = easy to share, change systems without disruption
- 14. Packaged software that builds a = not custom project = faster, lower cost, less risk, more mature Persistent, unified customer database that is = any source, full detail, separate data store, organized by customer Accessible to other systems. = easy to share, change systems without disruption
- 15. ü All sources ü Full detail ü Persistent storage ü Unified profiles ü Open access www.realcdp.com
- 16. ü All sources ü Full detail ü Persistent storage ü Unified profiles ü Open access www.realcdp.com û Real time û Identity resolution
- 20. Why It Works Prebuilt components ‘Big data’ technology Designed to do one thing well Vendors are specialists
- 21. CDP- Data- -Lake- -Data- -WH Hub- -/Tag- -Mgr- -MAP- -CRM- Cloud- -DMP- Packaged ü ü ü ü Persistent ü ü ü ü Unified ü ü ü ü Customer View ü ü Accessible ü ü ü ü ü How It Differs
- 22. Every system is optimized Only CDP is optimized for for its purpose. unified, complete, sharable customer data.
- 23. Types of CDPs
- 25. Orders Billing Service CRM Website CDP Load Unify Share Email Web Mobile Phone Offline Target Channel Content Operations Data Analytics Campaign Delivery Report Predict Measure
- 26. Orders Billing Service CRM Website CDP Load Unify Share Email Web Mobile Phone Offline Target Channel Content Operations Data Analytics Campaign Delivery Report Predict Measure Data CDP ß Analytics CDP à ß Campaign CDP à
- 27. Orders Billing Service CRM Website CDP Load Unify Share Email Web Mobile Phone Offline Target Channel Content Operations Data Analytics Campaign Delivery Report Predict Measure Data CDP ß Analytics CDP à ß Campaign CDP à ß Delivery CDP à ß Operational CDP à
- 28. Orders Billing Service CRM Website CDP Load Unify Share Email Web Mobile Phone Offline Target Channel Content Operations Data Analytics Campaign Delivery Report Predict Measure Data CDP ß Analytics CDP à ß Campaign CDP à CDP Inside ß Delivery CDP à CDP Inside ß Operational CDP à
- 29. What’s in it for me?
- 30. CDP Use Cases
- 31. What’s the best solution? What do you want to do? What’s a Use Case? What’s stopping you from doing it?
- 32. What’s the best solution? What do you want to do? Programs Use Cases Strategy Resources What’s a Use Case? What’s stopping you from doing it?
- 33. What’s the best solution? What do you want to do? What’s stopping you from doing it? Gaps Programs Use Cases Needs Strategy Resources What’s a Use Case?
- 34. What’s the best solution? What do you want to do? Features Best choice Gaps Programs Use Cases Needs Strategy Resources What’s a Use Case? What’s stopping you from doing it?
- 35. What’s a Use Case? • Use Cases fill gaps • Gaps depend on context • Context varies so no ‘best’ solution for all • CDP Use Case = CDP best fills the gaps
- 36. Gaps Filled: CDP vs Other Systems Capabilities CDP- Data- Lake- Data- WH- Hub- -/Tag- -Mgr- MAP- CRM- Cloud- -DMP- BoB Analytic Packaged- ü ü ü ü ü All sources ü ü ü Full detail ü ü ü Retain indefinitely ü ü ü ü Unified profiles ü ü Customer identity ü ü Open Access ü ü ü ü ü Predictive models ü ü ü ü Real time interactions ü ü ü ü Orchestration ü ü Delivery ü ü ü
- 37. = All sources = Open access = Full detail = Retain indefinitely = Customer identity = Unified profiles What’s a CDP Use Case?
- 38. What Applications are CDP Use Cases? Customer Profile Customer Journey Lifetime Value Predict Response Select Products Infer Intent All sources ü ü Revenue only ü Product related ü Full detail ü ü ü ü ü Selected content Retain indefinitely Current values ü ü Recent behavior ü Recent behavior Unified profiles ü ü ü ü ü ü Customer identity ü ü ü ü ü ü Open access ü Analytics only Analytics only ü ü ü
- 39. 25% 27% 29% 39% 40% 40% 49% 49% 59% 86% Faster response to changing data management needs Improved message delivery Less time spent on data management Improved data analysis and segmentation Access to otherwise-unavailable data Less reliance on IT resources Improved orchestration of customer treatments across channels Improved message selection and personalization Improved predictive modeling and recommendations Create unified customer view Source: CDP Institute, 2019 Member Survey What Benefits Do You Expect from a 3 of Top 4 CDP Uses are Analytics Benefit Type Data Decisions Delivery
- 40. More CDP Use Cases- Database Analyze Predict Outbound Real Time Orchestrate • data quality • golden record • lead to account match • onboarding (append external IDs) • enrichment (append external data) • less tag mgt mapping • GDPR/ compliance • combine online & CRM data • combine browsing and in-store purchase data • combine data • journey analytics • behavior analysis • best customer profiles • segment discovery • segment assignment • life stage assignment • KPI reporting • measure campaign effectiveness • channel preference • identify under- served segments • run stream tests • find high value customers • locate field events based on mapping of intent and scores • churn prediction • unsubscribe prediction • value prediction • best offer selection • lookalike models • repurchase prediction • append intent data • prospect selection • engage time optimization • location-based personalization • loyalty incentive selection • topic interest prediction • email list creation (best customers per campaign) • personalized message selection /targeting • DMP interactions • social media audiences • abandoned cart campaigns • reactivation campaigns • feature notifications • trigger messages • exclude previous buyers • real time behavioral profiling • real time offer selection (prepurchase) • real time content recommendation • cross sell/upsell (during purchase) • CSR access to individual profiles • retention campaigns • pre-emptive support (identify customers who need help) • cross-channel campaigns
- 41. What’s NOT a CDP Use Case?
- 42. DMP, CRM, CMS What’s NOT a CDP Use Case? (They synch)
- 43. Data Lake What’s NOT a CDP Use Case? (Lakes feed CDPs)
- 44. Data Science Toolkit What’s NOT a CDP Use Case? (Some CDPs do)
- 45. IT Toolkit What’s NOT a CDP Use Case? (Replaces custom dev)
- 46. Master Data Mgmt What’s NOT a CDP Use Case? (Customer data only)
- 47. Work outside IT What’s NOT a CDP Use Case? (Reduces IT workload)
- 48. Marketing suite What’s NOT a CDP Use Case? (May be ‘CDP Inside’)
- 49. Marketers only What’s NOT a CDP Use Case? (Uses across company)
- 50. Finding the Right CDP
- 51. What’s the best system? What do you want to do? Features Best choice Gaps Programs Use Cases Needs Strategy Resources System Selection Process What’s stopping you from doing it?
- 52. Vendor Screening Features • Use cases • Needs • Scenarios Type- • Data • Analytics • Campaign Clients- • Region • Size • Industry
- 53. CDPs by Type (partial lists) Data • ARM Treasure Data, Celebrus, CommandersAct, Ensighten, Hull.io, Integral-Core, Meiro, mParticle, Reltio, Segment, Tealium, Teavaro, Ysance… Analytics • ActionIQ, Allsight, Amperity, Audiens, BlueShift, Eulerian, IntentHQ, Knowesis, Leadspace, Lexer, NGDATA, Radius, Rekener, Simon Data, Zylotech… Campaign • Advalo, Agilone, BlueConic , BlueVenn, Boxever, CleverTap, CrossEngage, Custobar, Datatrics, Evergage, Exponea, FirstHive, Flytxt, IgnitionOne, Jahia/Unomi, Lattice Engines, Lemnisk/Vizury, Lytics, Manthan, Mediarithmics, NextUser, OpenJaw, Optimove, Piwik Pro, RedPoint Global, Scal-e, WhiteRabbitSuite…
- 54. CDP by Client Regions (partial lists)- Global • ARM Treasure Data, Boxever, Evergage, Manthan, mParticle, NG Data, Optimove, RedPoint, Segment, SessionM, Tealium Americas • BlueConic, BlueVenn, Bridg, Exponea, IgnitionOne, LeadSpace, Lattice Engines, Lytics, Lexer, Pearl … Europe/Africa • BlueConic, BlueVenn, CrossEngage, Exponea, IgnitionOne, Lytics, Lemnisk, Mediarithmics, Nominow Asia/Pacific • Integral-Core, Knowesis, Lemnisk, Lexer, Merio, n3
- 55. CDP by Client Spend (partial lists)- Small business (<$5,000/month CDP spend) • Exponea, Pearl, Nominow, White Rabbit Mid-size: ($5,000-$25,000/month CDP spend) • Arm Treasure Data, BlueConic, BlueVenn, CrossEngage, Exponea, Integral-Core, Knowesis, LeadSpace, Lemnisk, Manthan, , n3, NGData, Optimove, Segment, Tealium Enterprise: (>$25,000/month CDP spend) • BlueVenn, Boxever, Bridg, Evergage, IgnitionOne, LeadSpace, Lemnisk, Manthan, mParticle, n3, NGData, Segment, SessionM, Tealium
- 56. CDP by Client Industries (partial lists)- B2B/Tech: CrossEngage, Evergage, LeadSpace, Manthan, Radius, Segment, Tealium Retail: AgilOne, BlueConic, BlueVenn, CrossEngage, Evergage, Exponea, IgnitionOne, Manthan, mParticle, Nominow, Optimove, Pearl, Segment, SessionM, Tealium, White Rabbit Media/Publishing: BlueConic, BlueVenn, Integral-Core, mParticle, Segment, Tealium, White Rabbit Financial: Clevertap, Lemnisk, Netcore, NGData, Tealium, n3 Travel: Boxever, Bridg, CrossEngage, mParticle, OpenJaw, Optimove, SessionM Telecom: Flytxt, IntentHQ, Myntelligence, Knowesis Healthcare: HealthGrades, SymphonyRM
- 58. Feature Screening for Predictive Analytics Ingestion: no-code setup, high volume, streaming, API connectors, find changes, source tracking, consent tracking Storage: auto-add attributes, dynamic scaling, industry data model, read external sources, separate stores for structured, semi-structured, unstructured, real time update Identity: manage PII, stitching, offline match, cross-device match, persistent ID, external ID & device graphs, real time ID resolution Enrichment: clean, standardize, geo-code, auto-code features, process language, infer intent
- 59. Feature Screening for Predictive Analytics Derived variables: complexity, nesting, secure, change history, change impact Access: extracts, queries, API connectors, standard analytical formats, real time access Administration: governance, security, permissions, on-premise, anonymize/pseudonymize Analytics: explore, segment, model methods, self-service, explain Applications: predicts, recommend, test, attribute, arbitrate best offer, simulate, optimize
- 60. • CDP Institute • Peers • Analysts • Reviews • Phone calls • Demonstrations • Scenarios • Request for Proposal • Proof of Concept • References Selection Tools Screening Assessment Validation
- 61. • CDP Institute • Peers • Analysts • Reviews • Phone calls • Demonstrations • Scenarios • Request for Proposal • Proof of Concept • References Selection Tools Screening Assessment Validation Scenarios: • Base on YOUR use case detail • Specify tasks to demonstrate • Formal score sheet and review
- 62. • CDP is the only packaged software designed to build and share a unified customer view • CDP saves effort by automatically creating data sets for analytics and campaigns • CDP lets everyone work from the same information • CDP is not a magic bullet: it’s work to create and maintain • In most organizations, CDP adds unique advantages Remember This