The key to real-time is performance. You need to be able to integrate what you know about a customer with what they are doing right now to drive split second decisions about what to say, or do, next. Many current data structures do not support the high-level performance needed to engage customers in real-time.
Data warehouses are being found to increasingly fall short of the data requirements needed in a real-time world, but the thought of having to build a new data structure is something we do not want to contemplate.
Data Warehouses Don’t Deliver the Data Points Needed for Real-Time
As we know, a data warehouse is a repository for all the data that an organization’s individual business functions collect. Data warehousing emphasizes the capture of data from diverse sources, but does not generally start from the point-of-view of the end user who may need access to specialized databases.
In a real-time world, functions such as marketing, sales, and customer service need access to an extended set of data points to deliver the personalized customer experiences required for the brand to engage the customer, build loyalty, and drive revenue.
Leverage What is in Place and Layer onto Existing Data Structures
A Customer Data Management Platform is an option that does not require you to rip and replace. It can be layered onto existing systems to deliver data integration. The Customer Data Management Platform provides a home for all customer master data –- company data and third party — that has been matched, reconciled, and certified, and is available,
Unlike the traditional data warehouse, which usually stores historical detail, summarized data, and time-variant information, a Customer Data Management Platform stores certified master data for each individual customer. This is the data that is a “must have” for striving to meet their goals for engagement, loyalty, and revenue in a real-time personalized world.
Real-time engagement is fast becoming the point of entry for marketing and sales. To meet the data demands of real-time we need to access our current data structures and provide solutions that do not demand a complete overhaul of our existing data structures. Thankfully, new technologies, once only available to very large companies, are now available to all. Technologies that can be layered onto existing infrastructures to provide the specialized data required for real0time engagement.
About VeraCentra: Marketers everywhere want to use data to implement more modern customer engagement strategies. But there can be many obstacles standing in the way of success. That’s where we come in. VeraCentra provides easy-access Customer Data Hubs. We represent best of breed Cross Channel Engagement Platforms (so marketers get the right fit) and offer the Marketing and Data Services that guarantee speed to value and quick win ROI from technology investments. We deliver these solutions with an unmatched wholehearted approach bringing personalized support, care, and service to every client. That’s why many of our client relationships span more than a decade.