Frost & Sullivan Names Treasure Data ‘Global Company of the Year’ in CDPs
- Frost & Sullivan commends Treasure Data for excellence in the Customer Data Platforms (CDP) market.
- A new complimentary Frost & Sullivan report explains the unique business values of Treasure Data and why it received the Frost & Sullivan 2019 Global Company of the Year Award for Customer Data Platforms.
- Analytics, data management, modularity, interoperability, and the financial stability of the company were significant factors in the Frost & Sullivan award decision, as well as interface and ease-of-use features such as dashboards and preconfigured solutions called Treasure Boxes.
If you want to use customer data to stay one step ahead of your competitors or ride the huge, disruptive changes transforming the way people shop—and you’re researching Customer Data Platforms (CDPs)—you’re not alone. A recent study found that 77 percent of retail executives either had invested in CDPs or planned to do so in 2020.
But with a host of new entrants into this hot market, how do you know which CDP has the features, reliability, and data unification power that your business needs? Frost & Sullivan has just looked into this question and named Treasure Data the 2019 Global Company of the Year Award for the Customer Data Platforms market. In this extensive report, Frost & Sullivan explains its award selection.
“Customer Data platforms (CDPs) have emerged as a type of customer data management solution that helps all customer-facing teams—whether B2C or B2B—bring together, connect, and analyze in real-time all the data they need to generate an easily accessible unified view of all customer data to drive better customer experiences,” Frost & Sullivan’s report states.
Why Did Treasure Data CDP Receive the Frost & Sullivan Award?
“The modularity of Treasure Data’s platform allows for additional marketing functionality on top of the core customer analytics, data management, infrastructure, and support bundle,” says Martin Hoff ter Heide, Frost & Sullivan Lead Consultant, Integrated Commerce.
“This package ensures comprehensive data management and reporting capabilities, flexible dashboards, profile management, and workflow automation. It then incorporates open APIs and more than 130 pre-built connectors to integrate with common business intelligence and marketing systems to collect data and activate profiles,” he adds.
Additional marketing functionalities mentioned by Frost & Sullivan include segmentation and customer personalization to help improve engagement, targeting, and the efficiency of digital advertising, email marketing, and other types of campaigns.
Customer Data Platforms (CDPs)
Many companies are already struggling to use their data more effectively. Hoff ter Heide says retail faces the biggest challenge, since customer perception directly impacts revenue.
“Traditional in-store retail does not capture and leverage customer engagement data, which is needed to optimize customer experiences like eCommerce,” says Hoff ter Heide.
“Many retailers own multiple databases with millions of customer profiles that cannot be properly unified and resolved to understand how many actual unique customers they have. This makes it impossible to compete with digital native and other data-savvy organizations that keep investing and hence only increase their data-driven advantage,” he adds.
Predict Customer Behavior and Create Personalized CX
Treasure Data’s intuitive visual interfaces provide customer-facing staff with the data on the number of people in a defined audience, related trends, full customer profiles, and derived characteristics. It also allows them to leverage a stream of website event data to reconcile behavior and enrich segments automatically.
Giving Marketing Teams More Insight and ‘Democratizing Data’
Additionally, Treasure Data offers advanced analytics and artificial intelligence (AI)-based capabilities to predict customer buying behavior and churn. By enabling customer-facing teams to manage predictive models without requiring analytics or data science expertise, it has democratized access to customer insights.
Significantly, the availability of a single view of each customer simplifies collaboration among different customer-facing teams across marketing, product, and digital functions. Treasure Data eliminates the need to rip and replace an organization’s existing infrastructure by ensuring interoperability with existing technology.
Treasure Data enterprise CDP is also tightly integrated with Arm’s Pelion IoT platform, enhancing its retail clients’ ability to connect physical in-store data with digital customer data for unified data management.
“The acquisition of Treasure Data by Arm brings the significant financial resources of Arm and its owners, SoftBank Group and SoftBank’s Vision Fund, to Treasure Data,” noted Hoff ter Heide.
More on Choosing a CDP
So if you’re among the large majority of executives evaluating CDP choices, download the Frost & Sullivan report compliments of Treasure Data, or check out our easy 10-question guide to evaluating CDPs. And if you’re trying to prepare your organization for a new CDP take a look at this CDP readiness guide. Finally, if you’re a “dollars-and-cents” kind of person, this ROI guide explains how CDPs make a lot of dollars—and also a lot of sense.