Customer Data Platforms (CDPs) have undergone significant evolution in recent years, expanding their scope and capabilities beyond customer data management. Today, companies are looking for more comprehensive solutions that integrate data from various areas to obtain a holistic view of the business and make more strategic decisions. In this context, the concept of Central Data Platform (CDP) emerges, a centralized platform that unifies data from customers, products, finances, operations, and other areas, allowing for comprehensive information management.
The event “Optimizing CDP with Google Cloud”, held on March 5th at Google’s offices in Madrid, addressed this evolution and the keys to making the most of the capabilities of CDPs in the cloud. Here are the 6 most relevant lessons from the event:
1. Focus on activation:
- Prioritize obtaining immediate value: It is not necessary to start with a large-scale CDP project. It is advisable to start with an MVP that focuses on data activation, that is, on its use to make decisions and execute actions immediately.
- Efficiency from the start: With just two relevant data sources, it is already possible to obtain results and value from the CDP. Two data sources, one activation.
2.Flexibility and adaptability:
- Composable CDP: Starting with the focus on activation, the necessary pieces and data should be gradually incorporated without overloading the platform. Each company has unique needs, so the CDP must be flexible and adaptable to these needs.
3.Long-term vision:
- Digital transformation strategy: The implementation of a CDP is not a one-time project, but a long-term strategy that requires a clear vision and a sustained commitment from the company.
- Durable technologies and data: Technologies and data types should be selected that can last over time and adapt to market and business changes.
4. Beyond Customer Data:
- Expanding the scope: A CDP is not limited to customer data, but can integrate financial, product, personnel, marketing and other information relevant to the company.
- Advanced personalization: The integration of diverse data allows us to move from general targeting to individualized personalization and, finally, to hyper-personalization using technologies such as Generative AI (GenAI).
- Unique experiences: The CDP can use this data to create personalized experiences for each customer, increasing satisfaction and loyalty.
5. Benefits for the entire company:
- Interdepartmental collaboration: Although CDP projects are often led by marketing and sales departments, over time and with the accumulation of data, they can be very useful for other teams such as finance, product, customer service, operations, and more.
- Internal efficiency: The CDP can boost collaboration between different departments and improve the efficiency of internal processes.
6. Evolution towards the Central Data Platform:
- Integration and comprehensive management: Companies are looking for more comprehensive solutions that integrate data from various areas into a single centralized platform.
- Strategic decision making: The Central Data Platform allows for comprehensive information management, facilitating strategic decision making and predictive analysis.
At Making Science, we are convinced that the CDPs and Central Data Platforms are key tools for the digital transformation of companies.
If you want to know more about how we can help you implement a CDP or a centralized Central Data Platform in your company, do not hesitate to contact us.
Save the date:
Our next event in Google Cloud’s Madrid offices will take place on the 24th of April. We will soon share more details about the topic, speakers and surprises that we have prepared.
Cookie configuration