Only 11% of brands can create a unified customer profile

Despite recognising the value of customer data, only 11% of brands can effectively use this data to create a unified customer profile, a new study suggests.

Research from Forrester Consulting, commissioned from Oracle, indicates that despite all the hype around customer data platforms (CDP), brands are struggling to create a unified view of customers.

A survey of 337 marketing and advertising professionals from North America and Europe found that brands have a clear desire to centralise customer data.

Nearly seven in ten (69%) of respondents believe it is important to create a unified customer profile across channels and devices, 64% have adopted a CDP to achieve this goal and 69% plan to increase their CDP investments over the next two years.

A key objective for the use of customer engagement data is improving the experience for customers, according to 75% of respondents. In addition, 71% state that a unified customer profile is important to personalisation of customer experiences.

But only 11% of brands can effectively use a range of data sources to create such a customer profile to personalise experiences, provide a consistent experience across channels and improve business outcomes.

“A solid data foundation is the most fundamental ingredient to success in today’s Experience Economy, where consumers expect relevant, timely and consistent experiences,” Oracle CX EVP and GM Rob Tarkoff said.

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