Customer Data Unification
This article was first posted on LinkedIn on May 8th, 2018.
Time flies when you are enjoying yourself, or so the adage goes. It seems like yesterday that I wrote 5.5 Uses for a Customer Database while working for a first gen Customer Data Platform provider. It was 3.5 years ago. Yikes.
As if I’ve found the solution to quantum time travel, I now find myself working for www.amperity.com, and I couldn’t be more excited.
Here is what I know to be true:
- Volumes of customer data continue to increase, unabated.
- The channels that feed these silos continue to proliferate – eComm, Clickstream, Apps, POS, Social, customer service, response attribution.
- Companies continue to keep different sources of customer data in unconnected silos.
- The teams that manage these silos operate from different business units (Online teams vs. Offline teams).
- Huge amounts of money is still being spent on offline and unmeasurable marketing channels; money that could be spent on much higher ROMI and measurable online channels.
- Integrating these silos to create a meaningful 360 view of the customer is hard, really hard. Vendors can over promise and under deliver. Internal build projects are often way over budget and produce underwhelming results, if they aren’t cancelled.
- Scott Brinker’s Martech Landscape now has more than 5,000 companies on it, most of them need a solid customer data platform to operate at maximum efficiency. The GIGO concept is alive and well.
- Cross silo customer identity resolution is marketing’s Holy Grail, omni channel marketing is the king when it comes to increasing ROMI; Consumers are far more likely to respond positively to personalized messaging based on shopping behaviour across online and offline channels. Personalization can reduce acquisition costs by as much as 50 percent, lift revenues by 5 to 15 percent, and increase the efficiency of marketing spend by 10 to 30 percent*
- Only 6% of marketers have a single view of the customer, while 90% of them report it as a top priority.
Amperity is a company that has built the world’s first, massively scalable, machine learning based, Customer Data Platform. Not a repurposed, renamed, rebranded platform built on legacy technology. But a completely reimagined solution, built from the ground up, using cutting edge computer science. What we’re doing today, couldn’t be achieved 3.5 years ago.
No more ETL. No more common keys required. Solutions are now built in weeks and months, not 6 months or more, or not at all. Adding a new data source does not require feats of strength.
Those with whom I worked at Crystal Decisions will know what the energy levels were like in those halcyon days at the beginning of the BI revolution, it’s just like that here.
3.5 years have sped past at light speed, but I like this brave new world.
*How marketers can personalize at scale – Harvard Business Review