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April 18, 2022 05:25 pm

Thanks To Apple, Customer-Data Platforms Are Getting a Second Chance

In the wake of data privacy changes by mobile platforms last year, the enterprise tech world is suddenly very interested in customer-data platforms (CDPs). From a report: With Twilio's acquisition of Segment, Treasure Data's $234 million fundraise late last year and Salesforce's push into CDPs, the hot new buzzword is potentially a hot new market. "The way I think about [CDPs] is, it's trying to create a 360-degree view of each of your customers to help you more accurately identify what would most resonate with this customer," said Derek Zanutto, a general partner at CapitalG. The term first started appearing in mainstream conversations back in 2017. In short, CDPs are centralized places to store all the first-party data a company collects from its customers. "It's fundamentally a data platform that unifies the data, and processes it, and then activates the profiles across many channels," said Treasure Data CEO Kazuki Ohta. The key is not just collecting and storing that data, but making it available to use. The need for CDPs first arose as companies realized they had this data but didn't know what to do with it. "What we're seeing that a lot of brands do is effectively build a data lake or a master data management system, where there's a lot of data coming together potentially," said Ryan Fleisch, head of Product Marketing for Adobe's CDP. "But where a lot of brands are looking for further partnership is: How do I make sense of that data, activate it and make a decision off of it?" "The transformation of the data, the ability to personalize that customer information, I think is a key value prop of the customer data platform," said Twilio Segment Vice President Jodi Alperstein. "And really knowing that 360 view of the customer and really being able to identify them, and then be able to put it into action." It's also why CDPs are most commonly talked about in a marketing context, because it's the most natural extension of using data about customers. After Apple and Google restricted the use of third-party cookies in apps and on the web, marketers needed to find new sources of customer information.

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