Remember those days when companies used only one software, most likely a CRM or a DMP to manage their customer data. Well, those days are long gone. Nowadays an average SaaS company uses more than 80 tools and the number is growing every year. As a result, businesses are needing to invest more and more resources to keep customer data from all the tools in sync.
So, it doesn’t come as a surprise that the Customer Data Platforms (CDPs) are gradually shifting from a “nice-to-have” technology to a “must-have” technology Especially with a growing number of businesses feeling the real effects of bad/fragmented customer data.
Today’s customers demand personal attention and great experiences and keep it as a primary factor when making the buying decision. So, if your customer is getting a notification to make a payment they already did or getting an email that calls them by the wrong name, it can have a big impact on your overall business revenue. As per a report by IBM, bad data costs the US economy a whopping $3 trillion each year.
To avoid this, businesses are investing in software that gives them a single customer view, which helps explain the explosive growth in the CDP category.
What can a CDP do?
A Customer Data Platform helps you create a persistent, unified customer database (profile) that is accessible to other systems. With a unified customer view, marketers can make informed decisions and create personalized marketing campaigns catered to the market segment. However, the use of CDP is not only limited to marketing, it can do a lot more, such as:
- If your customer data is scattered across websites, applications, and social media, a CDP can help you easily manage data in one place. With just one API call all your data will be clean, structured, and exactly where you need it.
- CDP can help you manage data in a consistent and useful format across teams providing a single source of truth across the organization
- Engineering organizations use CDP so that their engineering team can work towards achieving business goals rather than maintaining data pipelines and standardizing data.
- CDP eliminates the need of having a data warehouse, a CRM, or even a DMP. You save time and money need to move data out of a warehouse
Cadenz – CDP and More
A CDP helps in data-driven decision making, faster innovation, customer-centric thinking and empowers almost every team in your organization. Now, just think of the magic a CDP can bring to your business if it gets the capability of deriving behavioral intelligence from the customer data.
That is exactly what Cadenz does.
Cadenz is the market’s first Customer Intelligence Platform (CIP) that automatically mines customer interests using behavioral AI algorithms on combined first-party and second-party data. This helps businesses create contextual communication that is personalized and relevant to the user.
For example, a normal CDP will help you send an email to a user with their name in the subject line. This was appealing a few years earlier. Not anymore!
Cadenz helps companies take this a step ahead –
For example, a user browsed for the latest broadband plan on your telecom app, spent 15 mins reading about the various offerings of a particular plan, and then leaves without subscribing for it.
A quick analysis of the user reveals:
- An affinity to buy things on sale/discount
- Maximum purchase happening on a Saturday from 10 AM-12 PM
- Push notifications having the maximum user engagement
So, Cadenz will design a hyper-personalized campaign that would send a push notification to the user’s mobile saying – ‘Discount on subscribing to X broadband plan in the next 30 mins’ on a Saturday, preferable between 10 AM – 12 PM.
The above is just one example of how you can use Cadenz to improve the reach and effect of your marketing campaigns. So, by using Cadenz for your marketing campaigns, you can:
- Instantaneously hyper-personalized customer engagement at every interaction in real-time.
- Discover customer behaviors or cohorts automatically with natural language-based concepts
- Execute diligent marketing campaigns that are highly customized and contextually aware
- One-to-one targeted marketing campaign based on micro-segments and individual-level characteristics
- Proactive customer relationship management by gaining insights on customer lifetime
- Integrate it with existing channels and campaign management systems
And the use of Cadenz for marketing is just one of the many applications the platform has. There is so much that businesses can do using the countless benefits that Cadenz has to offer.
Cadenz – One Platform Many Benefits
Cadenz Helps You Save on Investments in building Engineering Teams
Customer interactions with the brands are evolving and so is the journey to buying a product or a service. That means that marketers will always have access to upcoming technologies and better customer data. However, to take advantage of this new technology as well as to use the features of an existing partner, companies need to spend significant time and energy in maintaining their data management practices and platforms.
And with the increasing number of tools an average enterprise uses, this can result in a lot of engineering time. And considering the fact that a five-member data team can cost more than half a million dollars, this could add a huge burden in terms of employee cost.
Cadenz allows you to create a single source of truth for your customer data. It can easily connect and collect data from disparate data sources and unify the data to create single customer views without the need for any additional custom solutions. Cadenz also automates the extraction of behavior intelligence with OOTB behavioral AI Algorithms. This saves your investments in terms of time and money on building engineering teams and guarantees your return on investments.
Cadenz Helps You Save on Training Expenses
Any new solution you implement into your organization is going to have a learning curve for your team, especially if the solution is complex. That is not the case with Cadenz.
While TheDataTeam takes care of initial implementation and other professional services to ensure that the platform is properly installed and is providing secure access to customer data, it is built to function without any expertise in engineering.
Cadenz has functional UIs that allow companies to perform complex data connection, cleaning, and a lot more with just a few clicks. And with its industry-specific model, all you need is to select the correct attributes to narrow down the scope.
In the end, Cadenz allows companies to get live behavioral intelligence and subsequently hyper-personalization without adding to the engineering debt. So, if you are looking for the cost-savings by the Cadenz platform, you need to factor in the cost-savings of the marketing team, change management, and training as well.
Cadenz Lets You Operationalize CDP in Just 6 weeks
We live in a fast-paced world. News delivered with a delay is not considered news at all. Similarly, personalized data has a diminishing value for companies over time. Data that is outdated can create out-of-date segments which could result in inaccurate targeting, where messages are delivered to people who are no longer the target audience.
Cadenz lets you win the battle with time unlocking opportunities that would otherwise be impossible with the manual method of connecting data. Typically, it would take a minimum of 9-12 months to operationalize customer intelligence at scale. However, with Cadenz you can operationalize the process in just 4 weeks.
Cadenz reduces the weeks of time data engineers spend on Spark, Hadoop, etc to operationalize & test and let you add and configure attributes on the go.
Cadenz Scales with Your Organization’s Growth
Powered by Azure’s big data stack, Cadenz can easily scale (up and down) to the size of your customer base. The platform can combine data from external and internal data sources and integrate with existing channels and systems.
The scalable, real-time, and contextual marketing engine enables personalized service offerings. Also, Azure’s machine learning model enabled Cadenz to operationalize marketing analytics through a domain-aware self-learning model.
Cadenz Helps You Get Enterprise-wide Single View
While most CDPs are limited to providing a single view of a customer, Cadenz can help you get an enterprise-wide single view.
- 500+ attributes & growing
- Prebuilt ML estimator & inference models
- Automatic AI-led behavior identification, including content categorization
- Ready-to-use, configurable & extensible pipelines
- Scales to high concurrency, low latency access
- Profile UI for individual view
Cadenz Helps You Mitigate Data Risks
Most of the SaaS investments work on a subscription model and often require a significant upfront investment for training and integration. And then, if you choose to cancel, it is not always easy to carry your data to the next provider.
Also, any partner you are working with an experienced data loss/outages, which can be devastating for your business.
Cadenz can help you mitigate these risks of platform lock-in and data loss by storing a copy of the data that you can provide to new vendors or use it for yourself at any time. Cadenz can help you put your data under your control and not at the mercy of third-party vendors.
All these along with many other remarkable features and benefits give Cadenz the flexibility to have varied use cases. From a top private bank using Cadenz for Early Warning System (EWS) to a leading telecom using it to deliver relevant and contextual offers to customers at different touchpoints in their journey boosting conversion; from an insurance company reducing churn by building a real-time data platform using Cadenz for customers to easily access their latest account information to an e-commerce store using Cadenz to offer an interactive shopping experience to its customers, the successful implementation of Cadenz in such a varied range of use cases is a testament to the value it can bring to your business.