TECH BUYER Feb 2021 - IDC PlanScape - Doc # US42174518
IDC PlanScape: Customer Data Platform for Retail Customer Experience and Commerce
This IDC PlanScape identifies the main drivers (why), foundational elements (what), key actors (who), and business outcomes (how) involved in enhancing customer experience that helps retail organizations better respond in real time to unpredictable and event-driven customer behavior.
"Nowadays, relationships with customers are more fluid. On one hand, customers are aware and conscious of data shared with preferred brands. On the other hand, retailers need an extended value chain to improve customer lifetime value," said Ornella Urso, senior research analyst, IDC Retail Insights. "Offering a frictionless, contextualized, and immersive shopping experience requires that each gear of the retail value chain — people, processes, and technologies -— is aligned and synchronized with customer preferences. Knowing the customer is not just about cookies; it is about enhancing customer experience by engaging the customer based on solid trust. To do so, retailers need to break down existing data silos and implement customer data platforms to ingest, process, and analyze first-, second-, and third-party data (e.g., customer real-time contextual and historical data), relying on an identity management and regulatory compliance architecture."