Before You Buy: A Guide For Choosing A Customer Data Platform
An explosion of data from online and offline data sources means today's businesses rely on technology to correlate and enrich the data they collect, to curate a meaningful, granular understanding of each individual customer. Recent estimates suggest that global annual data generation will reach a staggering 163 zettabytes (163 sextillion bytes) by 2025, so the urgency for a technological data management solution is at an all-time high.
In fact, 73% of organizations agree that delivering an exemplary customer service experience is key to a successful business. And a recent report by the McKinsey Global Institute found that companies who remain customer-centric are 23 times more likely to attract and six times more likely to maintain customer relationships.
In this newsletter, Tealium features the Gartner report, Market Guide for Customer Data Platforms for Marketing. We aim to identify obstacles caused by fragmented customer data silos and establish how Customer Data Platforms (CDPs) can help data and analytics professionals at enterprise companies improve their first party data management. the recommendations come as the result of a yearlong study, in which Gartner analysis surveyed more than 400 martech end users and technology vendors, and collaborated with high tier industry publications and reports for secondary research. Consequently, they offer comprehensive insight into CDP's available from a variety of vendors, and factors to consider when evaluating implementation.