During Sap’s Customer Experience Live virtual conference today, the company announced the global launch of SAP Customer Data Platform, a next-generation customer data platform (CDP) that aims to allow organizations to redefine the customer experience across every engagement, from commerce and marketing to sales and service.
SAP Customer Data Platform is planned to go beyond marketing by adding rich context to commerce, sales and service experiences, with relevant timely marketing. In so doing, SAP Customer Data Platform aims to deliver personalization, based on its ability to collect and manage customer data. This will enable organizations to know the customer at every touch point and to effectively drive relevant conversations and create lasting customer loyalty.
SAP Customer Data Platform is specifically engineered to tackle four key opportunities to increase brand reach and effectiveness:
Connecting every data source in the organization
When several data sources individually store customer data, the result is data silo proliferation and customer view fragmentation. With SAP Customer Data Platform, customer data can be ingested and resolved from every source within the organization, including first-party CRM data; second-party, third-party and offline data; and event and activity streams, along with transactional, behavioural, experience and back-office data.
No matter what the source, the data is maintained, with context, on top of the operational data to connect systems that require a high confidence of data quality. This results in living, breathing, unified customer profiles updated in real time and in the moment.
Respecting customer data with a holistic data privacy strategy
In today’s data privacy landscape, brands need to understand how, when and where customer data can be used. By understanding the core purpose of why the data is collected, SAP Customer Data Platform can help enable a more holistic privacy strategy, merging inbound data to a profile only if required consents have been obtained.
This enhances transparency into data collection practices and the reasons for which data is processed, helping to underscore a brand’s commitment to the data privacy of its customers.
Understanding large volumes of data
SAP Customer Data Platform offers powerful segmentation and activity indicators calculated in real time to help obtain a true understanding of customer preferences and behaviour. This provides a data foundation for audience-building and activation necessary to deliver relevant, personalized and omnichannel engagements.
Centralizing this audience management helps brands to deliver consistent experiences across their marketing, personalization, commerce, service and sales solutions, which is essential to a customer-first strategy.
Hyperpersonalizing engagements based on a comprehensive view of the customer
SAP Customer Data Platform helps to unify vast amounts of back-office operational data with front-office and experience data. This fuels engagement solutions across the organization with actionable, permission-based, customer insights in real time, leading to relevant, engagements at the right time and place in the preferred channel and on the customer’s terms.
“No two customers are the same, and no single customer is perfectly predictable,” said Trond Andersen, head of IT strategy and architecture, Elkjøp Nordic AS, one of the largest consumer electronics retailers in the Nordic countries.
“With SAP Customer Data Platform, it is possible to create a contextual view of the customer and couple it with a unified profile, to better anticipate their wants and needs as they express them. This will increase the effectiveness of our engagement through real-time data management, while ensuring we are handling the data in a compliant and respectful way.”
SAP’s entry into the CDP market adds one more tech giant to the list of business software vendors that have recognized the effectiveness of the tool. CDPs now have buy-in from leaders like Microsoft, Adobe, Salesforce, and Oracle, just to name a few.
“We did not invent CDP, but SAP Customer Data Platform opens the concept to a new world of opportunities,” SAP Customer Experience President Bob Stutz said in a statement.
“SAP Customer Data Platform is one of the most advanced enterprise-grade CDPs. It can truly deliver personalized experiences that nurture anonymous users into known, loyal customers using the customers’ preferred channels, unifying vast amounts of front-office, back-office, and experience data as only SAP can.”
