Knowing your customer today is a top priority for every retailer or brand. In fact, as per a recent survey conducted by Forbes, 54% of executives believe that customer data platforms can help marketers get closer to achieving a 360-degree view of their customers.
Historically, retailers and brands have relied heavily on traditional or legacy systems such as CMS, POS or CRM to identify their customers. But the problem here is that this data is siloed across multiple systems, networks, and locations. This has always restricted an organization’s decision to create a mindset where analytics form the basis of all fact-based business decisions to know and own customers. Therefore, a robust system was needed to collect, centralize, and stitch together customer data for a better understanding of the customers, giving retailers and brands the ability to take action with the help of data.
View our infographic below to get a quick overview, purpose and true value of customer data platforms (CDPs).
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