A 360° view of customer behavior is the holy grail of customer intelligence for companies succeeding  in the modern digital world. Unfortunately for many customer-obsessed enterprises, this is not yet a  reality. Efforts are often hampered because brands are not yet adapting to Digital Transformation 2.0 (DX 2.0) and are stuck in a 1.0 mindset. Here is why we need to advance to DX 2.0

A key factor driving the need for DX 2.0 is connecting the silos that contain critical event data that is continuously generated from all digital interactions. This information needs to be ingested and analyzed in near real-time to enhance predictive insights that drive personalization, loyalty, and measurement to the next level across active customers.

In other words: Fast data is intended to be analyzed without data wrangling. Today, the approaches to gain customer insights remain tied to legacy approaches that are complex across disconnected channels and delivered with static, stale visualization reports

As a result, many brands turned to customer data platforms (CDPs), but CDPs are only part of the equation, and are also stuck in the DX 1.0 era. CDPs lack analytics and are deeply challenging to integrate with other data sources, impacting business goals and customer experiences

Simply put, CDPs were not built to handle high-volume analytics and ML in the DX 2.0 era. CDPs were primarily built for customer ID resolution, which is critical to understanding customer profiles—but not for data unification across all channels, journeys, products, and interactions that are required to achieve a true 360° view of customer behavior

There are currently many failed implementations of CDPs due to the wrong expectations of what CDPs were built for and their actual capabilities. According to Forrester:

“Only 10% of CDP owners today feel their CDP meets all needs. That number drops to 1% who believe their CDP answers future requirements.”

And that’s not all:

• Only 26% of CDP owners say their CDP meets most of their current needs.
• Only 35% say it’s meeting some of their current needs.
• Only 28% say it doesn’t meet any of their current needs.
• And, 45% report it has underperformed against business expectations

Teams across an organization need to explore data and understand their customers across all journeys in real-time, preferably in a predictive and self-service manner. This is an undeniable requirement to drive the next generation of customer experience and loyalty, and many leading organizations have started the transition.

So, why the disappointment with CDPs? To understand the “why,” we need to start from the beginning.  Download this eBook to learn how you can supercharge your CDP.