As part of the vision for Liferay Analytics Cloud, product manager Jon Lee did a deep dive into customer data platforms and why companies need them as part of their digital strategies.
With the increasing importance of customer experience, companies need to find better, more comprehensive ways to understand their customers with data. Among the top challenges of customer experience management is achieving a single view of the customer. According to a survey done during LSNA 2018, we found that only 8% of attendees felt they had a strong solution for achieving a single view of the customer. When asked what the challenges were, one of the top ones was solutions for bringing together data from disparate systems.
Why a Customer Data Platform?
Improving the customer journey is the first step in delivering exceptional customer experiences. “We believe that a CDP is a key part of making this happen,” said Lee.
Customers today use more than one touchpoint to address their needs. As they move between digital touchpoints, such as email and mobile apps, and physical touchpoints, such as talking with an agent or calling customer support, companies need solutions for capturing that data, organizing it, and discovering trends that can help them improve customer experience at scale.
With features focused on efficient integration and ensuring data quality, customer data platforms are positioned to be a key part of understanding the customer journey.
What Can You Do With a Customer Data Platform?
A customer data platform integrates, cleans and combines data from multiple sources to create a persistent, unified customer database that is accessible to other systems. Lee went over several benefits with a CDP:
- Sales and Marketing can more easily map customer journeys by breaking users into meaningful segments and tracking how they engage across touchpoints.
- Data analysts can stitch together different sources of data and ensure that they have clean, high quality data to work with.
- Data privacy regulations such as GDPR are easier to respond to because you have a clear picture of the customer information your systems are gathering.
To achieve this, future releases of Liferay Analytics Cloud will include more out-of-the-box connectors to facilitate integrations with common systems used by enterprises. Ultimately, the vision for Liferay Analytics Cloud is to enable companies to connect data across all systems and sites, including legacy systems with custom data.