Considering the fast-changing context in which retailers and CPG companies deal with large amounts of unstructured and fragmented data from different interfaces and business functions, data accuracy is critical. Integrating data silos and leveraging AI/ML analytics remain fundamental for companies that aim to achieve real-time contextual customer experience at scale.
In the consumer industry, breaking down data silos and complying with security standards and regulations are among the top challenges when implementing customer experience processes. IDC predicts that “by 2024, 25% of the customer data utilized to drive personalized experiences and improve omni-channel merchandising, marketing, and service intelligence will be sourced from shared customer data hubs” (see IDC FutureScape: Worldwide Retail 2022 Predictions — IDC #US47249621, October 2021).
IDC Retail Insights aims to help retailers and CPG companies select worldwide customer data platform software and specialty providers. IDC’s new Worldwide Retail and CPG Customer Data Platform Software Provider 2022 Vendor Assessment MarketScape assesses the capabilities and strategies of major enterprise software vendors and specialty CDP providers in serving the needs of retail and CPG companies and brands worldwide across industry segments (food and non-food retail). Vendors are assessed according to their success in designing, developing, installing, configuring, and maintaining the evolution of a complete customer data platform serving retailers and CPG companies.
The study evaluates 13 vendors: Adobe, Algonomy, Amperity, BlueConic, Microsoft, mParticle, Optimove, Redpoint Global, Salesforce, SAP, SAS, Tealium, and Treasure Data. Vendors are evaluated on a range of capabilities:
- Customer identity and privacy management
- Retail- and CPG-specific services and use cases
- CDP core capabilities and functions
- External collaborations to address retail and/or CPG-specific needs
- Support and training services
- Software deploy and support