1. Collection of data in its original form
Frequent modifications on the original source data makes it difficult for marketers to pre-determine the use of data for their marketing strategies. So it is important to store customer data in its original form to ensure that the data can be useful in the
future. A Customer Data Platform designed for financial services collects data in its original form from all sources.
2. Creating customer one view
A
CDP unifies the data captured from different sources into a single view for each customer. It brings together data from sources such as first-party behavioral data, second-party partner data, third-party audience persona data, CRM data, next best offer
(NBO) data, and any other customer data touch points.
3. Powering different marketing systems
The collective data in the unified customer database of a CDP is easily available to other marketing systems, typically through an API or database query.
4. Cross-device data coordination
User interactions with different devices are captured by the CDP and a unified customer view is formulated to create a unique journey for each user. The unified database is used to identify the user’s preferred experience on each device by tracking their
online behavioral patterns.