When the concept of Customer Data Platforms (CDPs) first emerged, it was a novel idea aimed at driving superior customer experiences. Fast forward to CDP World 2023, our inaugural global summit held October 24–25, and this dynamic landscape has witnessed incredible growth and innovation. In this blog post, we'll delve into groundbreaking announcements from our keynote at CDP World 2023. These innovations are set to redefine the CDP industry by unifying Batch CDP and Real-Time 2.0 CDP while incorporating advanced AI capabilities into a single, user-friendly Journey Orchestration UI. Watch the keynote
here.
The Evolution of CDPs
The term "CDP" didn't exist until 2013, when it was coined by David Raab to describe a new class of software designed to enhance customer experiences. Since then, CDPs have become essential tools for thousands of companies across various industries, ranging from retail and CPG to automotive, finance and healthcare.The Experience Gap
Thanks in part to greater adoption of CDPs, the majority of businesses claim to have a complete "customer 360 view," yet consumers beg to differ. A new study commissioned by Treasure Data found 76% of brands claim a holistic view of their customers, yet just 25% of consumers believe their favorite brands do. Additionally, 9 out of 10 consumers receive mostly irrelevant content from brands. This misalignment between businesses and consumers underscores the pressing need to bridge the experience gap.
Treasure Data's Revolutionary Announcements
At CDP World 2023, Treasure Data made three transformative announcements that will reshape the CDP landscape and help close this experience gap:
- Real-Time 2.0 CDP: Treasure Data unveiled Real-Time 2.0 CDP, a solution that combines the best of both batch and real-time processing. It offers Real-Time 2.0 ID Unification, Triggering, and Personalization capabilities with millisecond-level response times, catering to today's fast-paced consumer behaviors.
- Artificial Intelligence (AI): Treasure Data introduced additional AI capabilities into its CDP, featuring more than 20 pre-built machine learning models and Generative AI Copilot. AI is poised to empower businesses by automating and optimizing customer engagement.
- Unified Journey Orchestration UI: Treasure Data's Journey Orchestration UI now seamlessly integrates Batch CDP, Real-Time 2.0 CDP, and AI capabilities into a single, intuitive interface. This unified approach eliminates the need to choose between batch and real-time processing and ensures ease of use.
Real-Time 2.0 CDP
Real-Time 2.0 CDP represents a significant leap forward in customer data processing. It addresses the challenge of hyper-personalization in a world where consumer buying patterns are increasingly instantaneous.With Real-Time ID Unification, Triggering, and Personalization capabilities, businesses can create a 360-degree view of customers as events happen, respond to triggers in milliseconds, and offer highly personalized experiences across all channels.
Artificial Intelligence (Pre-built ML models, Generative AI Copilot)
AI has reached a tipping point, and Treasure Data is harnessing its power to transform customer experiences. Businesses now have access to pre-built machine learning models, such as Next Best Action and RFM, that can predict customer behaviors, enabling better targeting and engagement.Additionally, the Generative AI co-pilot promises to streamline marketing operations and deliver insights in a chat-like format, making AI more accessible to all.
Unified Journey Interface for Batch, Real-Time 2.0 and AI
Traditional journey orchestration tools are outdated, limiting engagement to email and SMS channels. Treasure Data's Journey Orchestration UI disrupts this norm by providing a single, drag-and-drop interface that can orchestrate customer experiences across all channels, including digital and physical.By integrating Batch CDP, Real-Time 2.0 CDP and AI into this interface, Treasure Data has unified the CDP experience, eliminating the need for separate products and simplifying the customer engagement process.
