CDPa: Do you have any predictions for creative or new ways in which customer data will be used in the next few years?
Ranjan: Data processing has become cheaper and cheaper over the last ten years, and that’s a trend that will have a big impact on how companies use their customer data. The cost to keep all your customer data in one platform has come down drastically, to the point where it’s now possible to include everything. It used to be too expensive to keep it in one place and operate on top of that, but I think that has democratized for brands at a level that we’ve never seen before. You can now start with the same tools that major tech companies are using to find new customers, and you can do it for a really low cost.
Where there will be a difference is in overall marketing workflows. The type of skill sets you’ll find on marketing teams will be different, with many more “citizen developer” archetypes in the mix. Marketers will be building tools in their own low-code environment. From an experimentation point of view, marketers used to have to write down an idea and pass it on to engineers who would build it. Now, marketers can have direct access to the datasets they want, build tests very quickly in a low-code environment, and then push those tests into production without needing to involve a full engineering team.
Want to hear more from CDPa Founders on their experiences and insights? Check out recent interviews with Megan Kohout and Sebastian diGrande.