Finding the right CDP for your business requires a close look at what each system provides compared with what your company needs.
We’ll start with the core features. Remember that non-CDP systems provide a number of features that overlap with a CDP. A data warehouse may collect data from source systems, making CDP data collection features less important. A Master Data Management system may maintain customer identities that your CDP can import. An Integration Platform may be able to move CDP data into systems that need it. Even if you do have those types of systems, there’s no guarantee they’ll actually meet your needs. But you do want to take a look.
For now, let’s assume you do need a CDP to provide the full set of features. Some items to check include:
»Deterministic (matches based on known links between two identifiers, such as a phone number and postal address on the same account record).
»Similarity (matches based on alternative forms of the same information, such as spelling variations in a street name).
»Probabilistic (matches based on correlations between two items, such as a phone and computer that are frequently used in the same times and places).
• Can the system build a unified view by combining all data associated with the same individual?
• Can the system create aggregates, scores, and other derived values based on events and transactions associated with the same individual?
• Can the system build household- or company-level profiles that combine information for multiple individuals?
•How quickly can the system recalculate derived values when a new personal identifier is matched to an existing customer ID (without reassessing existing matches)?
•How quickly can the system reassess all existing matches when new personal identifiers are added?
•How quickly is ingested data incorporated into customer profiles, including updated calculations using that data?
Any of these might be provided by a specialist system. Companies that have adequate specialist solutions in place will not usually want to replace them with the CDP’s version. But companies without an adequate solution may want to assess whether CDP provides an acceptable option, recognizing the advantage of minimizing the number of separate systems the company must buy, integrate, and train employees to use.
Analytics: reporting, exploratory and descriptive analytics, data visualization, predictive modeling, next-best-action identification, product recommendations, send-time optimization, marketing results attribution.
Campaigns: audience or segment selection, multi-step campaign flows, real-time interactions, segment-level content selections, test splits
Personalization: individual-level message and offer selection, data retrieval, dynamic content execution
Orchestration: message selection across multiple campaigns, individual-level channel selection, channel-specific formatting, connectors to channel delivery systems.