Data Related Concepts

Customer Data Platform

Customer Data Platform (CDP) is software that collects and combines customer data from multiple sources to create a coherent and comprehensive view of each individual customer. A CDP enables a business to overcome the challenge of analyzing vast amounts of customer data to gain quick insights and provide efficient customer personalization. CDP also helps reduce redundancy and errors, provides easier data access, enhances data security, and ensures regulatory compliance. According to ReportLinker, the market for Customer Data Platforms (CDP) was valued at $3.5 billion in 2021 and is expected to reach $15.3 billion by 2026, growing at a CAGR of 34.6% during the forecast period.