We’ve already seen a customer data platform (CDP) surge in the last few months, and for good reason. Fragmented data from multiple sources is notorious for being difficult to organize. Of course, it’s not ideal for organizations that rely on timely and well-curated data to operate at their best. IBM estimates that so-called “bad data” already costs US companies about $ 3 trillion annually, making overcoming this challenge a priority for businesses of all sizes. CDP helps solve this problem by making it available to anyone who needs access to it from an available source to collect, organize, tag, and use it. Companies such as Adobe, SAP, Oracle, Treasure Data, and Microsoft have already invested heavily to bring powerful new CDPs to market. We’ve also seen new entrants like Segment and ActionIQ impress with new CDP services that take a unique approach to meet the challenge of gaining the coveted 360-degree customer view.
Over the last few years, I’ve dealt with a lot in analytics and big data dissemination. Let’s be clear, this doesn’t stop. The data is growing exponentially and will not stop immediately. Analytical platforms, data warehouses and visualization tools from Cloudera to Snowflake to SAS will not lose their relevance, but the rise of customer data platforms will ignite in 2021. Not only because of the new operating model for working from home, but also because of the continued acceleration of data collection across the growing touchpoint ecosystem, which has subdivided business operations a bit. , CDP will be particularly relevant in 2021.
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Enterprises are increasingly switching to hybrid cloud infrastructure. From SaaS applications and on-premises solutions to a combination of public and private clouds, hybrid cloud strategies help companies find the right balance for their unique cloud infrastructure needs. Over the past year, we have made significant investments in hybrids from major public cloud providers such as AWS, Azure, Google, IBM and Oracle. We also see OEMs such as HPE, Dell (VMware), and Cisco investing more and more in developing tools that facilitate connectivity between on-premises data centers and the cloud. These investments are to pick up where your customers are. Master the challenges of exponential data growth while proactively addressing issues such as data protection, security, and compliance. The latest approach to hybrid cloud is expanding from traditional IT to supporting industrial applications. For example, Honeywell has built a Forge IoT…