MI-3 Feature: Rise of the customer data platform
19 hours ago by Andrea
In this deep dive feature published in MI-3, Executive Editor Paul McIntyre talks to The Lumery’s Managing Director, Rajan Kumar on whether CDP is really the hot new acronym blazing a path into tech stacks, promising the ‘Holy Grail’ of a single customer view and enabling highly efficient customer experience management across all channels at scale.
“Here’s a radical thought: Not everybody needs a CDP,” says Rajan Kumar, Co-Founder and Managing Director of The Lumery.
“Why not? Because the use cases are specific to an organisation: A mid-tier retailer compared to a large enterprise like a News Corp are totally different. The data management requirements are completely different,” says Kumar.
“So you have to be really clear on what it is you’re trying to solve in your organisation from a data perspective, how that’s going to drive growth and then does a CDP enable that to either accelerate your success or fundamentally change how you’re going to go to market?”
Otherwise, there is a risk that CDP becomes just another “shiny new toy”, says Kumar. “We have to make sure we’re asking the right questions on behalf of the customer to ensure they are solving problems, not just buying more technology.”