7 Trends in Customer Data Platforms for the year 2023

1. Increased integration of CDPs with other technologies such as CRM systems and marketing automation platforms to provide a more holistic view of customer data and inform decision-making.
2. A greater focus on data quality, including sourcing and reliability of data, as well as compliance with consent and data retention laws.
3. The use of artificial intelligence (AI) in CDPs, particularly in areas such as sentiment analysis and predictive analytics, to gain valuable insights and improve customer experience strategies.
4. The emergence of CDP leaders and a concentration of market leadership among a few key vendors, as well as the strengthening of CDP offerings by enterprise software providers.
5. The trend of businesses choosing to invest in pre-built, vendor-expertise driven technologies rather than building their own CDPs.
6. The expansion of the role of CDPs beyond data consolidation and into customer success strategies, with an emphasis on improving customer experience, loyalty/retention, and new customer acquisition.
7. An increased focus on privacy and security concerns as data becomes increasingly valuable and regulated.

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