Customer data platforms (CDPs) have been one of marketing’s most-hyped technologies in recent years. The CDP Institute estimates revenue in the space will top $1 billion this year, a 65% increase from 2018, with close to 100 active vendors. As with most fast-emerging technologies, there is a degree of confusion in the space as vendors jockey to capitalize on marketers’ growing need to better optimize their marketing activity, while each of them claims to have the best solution for tailoring their interventions.
For this reason, as it aims to differentiate itself in the CDP market, the Oracle CX Unity provider has teamed with consulting outfits Accenture and Capgemini to help marketers map out their different data sources and devise KPIs in order to hone their customer interactions.
The first wave of CDP providers failed to address the challenge of creating a single customer view with very few solutions that can provide a comprehensive view into customer interactions across channels and applications, according to Rob Tarkoff, evp and general manager, Oracle CX Cloud.
“To address the challenges of this first wave of CDP solutions and provide our customers with the scale and precision needed to make every customer interaction truly matter, we are delivering CX Unity, our customer intelligence platform, in partnership with experts in customer data such as Accenture and Capgemini,” he added.
Meanwhile, Des Cahill, vp and CMO of Oracle CX, told Adweek that marketers’ growing desire for the promise of CDPs is indicative of the brewing data-privacy headwinds imposed by regulatory intervention, a trend that has inadvertently played into the hands of the walled gardens.
Growing restrictions on the use of third-party data limit marketers’ ability to use target audiences across the open web and thus concentrated media dollars into the walled gardens of Facebook, Google and (increasingly) Amazon.
“We’re expanding our go-to markets efforts with CX Unity, our enterprise-grade CDP, by partnering with Accenture and Capgemini,” said Cahill.
Commenting specifically on the role the consulting duo would play in the partnership, he added, “Mapping all of the different sources of customer data within an organization, and understanding which is the most important and refreshed sources is key to understanding its strategic value … and we think Accenture and Capgemini are experts in this kind of process.”
The announcement comes the same week as the Cannes Lions Festival of Creativity, an international conference that has expanded far beyond its roots of celebrating the best ad campaigns across the globe to include all tiers of the marketing business.
To coincide with this global gathering, Adobe has further unveiled features within its own CDP-offering, including a feature called “Triggered Journeys”, which it terms as a use case within its Experience Platform. This also comes the same week as Salesforce hosts its Salesforce Connect conference in Chicago, and it is expected to further reveal insights to its CDP-offering Customer 360.