Key Trends in CDP Development in 2024

In the modern world, user data lies at the core of innovative tools rapidly advancing and benefiting businesses. Guided by established customer behavior models and real-time insights, companies make strategic decisions, outpacing their competitors.
This happens for companies equipped with the right software aiding them in achieving data management goals and enhancing the customer experience. Is there a single solution for these tasks? Yes, there is - it's a specialized Customer Data Platform (CDP).
As more resources flow into customer data, the demand for privacy, neural network capabilities, flexible management processes, and automation will rise.
Five Key Trends in CDP Development
CDPs enhance data structure and organization without the need for a complete overhaul of existing customer support systems. Businesses leveraging AI or machine learning in their operations require a reliable CDP for seamless functionality.
In 2024, several prevailing trends stand out in the CDP market.
1. CDPs leveraging neural networks
For instance, neural networks will be utilized to analyze human behavior and forecast future purchasing trends. This information will then be applied in targeted marketing strategies.
Improving service efficiency through ML is a recent trend. For instance, in June 2023, Figma released a major software update. Alongside various enhancements, Figma introduced an artificial intelligence plugin enabling users to tackle tasks like generating icons on demand, creating diverse interface element variations, and modifying information within them.
2. Enhanced focus on user data protection
By 2024, CDPs are expected to prioritize data protection more rigorously. Platform providers must ensure compliance with legislation, and transparency regarding the collection, storage, and use of customer data is crucial.
3. Real-time data processing
This challenge is tackled through the development of CDPs that collect and process information in real-time, enabling businesses to make quicker managerial decisions based on up-to-date data. CDPs analyzing customer behavior online, like Altcraft Platform, gather and analyze data immediately upon receipt.
The CDP Altcraft Platform provides detailed analytical reports, allowing for campaign effectiveness tracking and informed decision-making. These include:
Channel reports
Traffic reports
Goal reports
Sales funnel
Click map
Return reports
Undelivered message reports
LTV (Lifetime Value) reports
Audience growth reports
Cohort analysis
4. Demand for multichannel capabilities will continue to rise
5. Priority on integrating CDP with various marketing services
Conclusion
It's time to think bigger: CDPs are crucial in creating a unified data ecosystem, extracting insights, and implementing data-driven strategies.
*products of Meta, a recognised extremist organisation in the Russian Federation
You might be interested in:
For those who are unsure whether cleaning their contact list is worth it.
Read moreHow to detect unauthorized access to information and what should be done in this case?
Read moreWhat is conversion rate, where is the CRO strategy applied and how does this strategy work.
Read more