SAP Launches SAP® Customer Data Platform to Enable Enterprises to Meet the Customer in the Moment

Rhea-AI Summary

SAP SE (NYSE: SAP) has launched the SAP Customer Data Platform, aiming to transform customer experiences across various engagement touchpoints, including marketing, sales, and service. Announced at the SAP Customer Experience LIVE event on October 14, 2020, this platform integrates data from multiple sources to provide a unified view of customers. Key features include data connectivity, stringent privacy protocols, real-time analytics, and hyperpersonalization capabilities, addressing brands' needs for enhanced customer engagement and loyalty.

Positive

• Launch of SAP Customer Data Platform enhances customer engagement capabilities.
• Integrates multiple data sources for a unified customer view.
• Focus on data privacy aligns with current regulatory standards.
• Real-time analytics for improved customer insights and personalization.

Negative

• None.

WALLDORF, Germany, Oct. 14, 2020 /PRNewswire/ -- SAP SE (NYSE: SAP) today announced the global launch of SAP® Customer Data Platform, a next-generation customer data platform (CDP) that aims to allow organizations to redefine the customer experience across every engagement, from commerce and marketing to sales and service. The announcement was made at SAP Customer Experience LIVE, held online October 14–15.

As customer experience becomes an increasingly important differentiator of brands around the globe, many are turning to CDPs to help power unique, personalized experiences for a variety of marketing uses. But too often, this narrow marketing focus has impeded the true potential of an effective CDP. SAP Customer Data Platform is planned to go beyond marketing by adding rich context to commerce, sales and service experiences, with relevant timely marketing. In so doing, SAP Customer Data Platform aims to deliver personalization, based on its ability to collect and manage customer data. This will enable organizations to know the customer at every touch point and to effectively drive relevant conversations and create lasting customer loyalty.

Connecting, Respecting, Understanding and Personalizing Data for Success
SAP Customer Data Platform is specifically engineered to tackle four key opportunities to increase brand reach and effectiveness:

• Connecting every data source in the organization. When several data sources individually store customer data, the result is data silo proliferation and customer view fragmentation. With SAP Customer Data Platform, customer data can be ingested and resolved from every source within the organization, including first-party CRM data; second-party, third-party and offline data; and event and activity streams, along with transactional, behavioral, experience and back-office data. No matter what the source, the data is maintained, with context, on top of the operational data to connect systems that require a high confidence of data quality. This results in living, breathing, unified customer profiles updated in real time and in the moment.
• Respecting customer data with a holistic data privacy strategy. In today's data privacy landscape, brands need to understand how, when and where customer data can be used. By understanding the core purpose of why the data is collected, SAP Customer Data Platform can help enable a more holistic privacy strategy, merging inbound data to a profile only if required consents have been obtained. This enhances transparency into data collection practices and the reasons for which data is processed, helping to underscore a brand's commitment to the data privacy of its customers.
• Understanding large volumes of data. SAP Customer Data Platform offers powerful segmentation and activity indicators calculated in real time to help obtain a true understanding of customer preferences and behavior. This provides a data foundation for audience-building and activation necessary to deliver relevant, personalized and omnichannel engagements. Centralizing this audience management helps brands to deliver consistent experiences across their marketing, personalization, commerce, service and sales solutions, which is essential to a customer-first strategy.
• Hyperpersonalizing engagements based on a comprehensive view of the customer. SAP Customer Data Platform helps to unify vast amounts of back-office operational data with front-office and experience data. This fuels engagement solutions across the organization with actionable, permission-based, customer insights in real time, leading to relevant, engagements at the right time and place in the preferred channel and on the customer's terms.

"No two customers are the same, and no single customer is perfectly predictable," said Trond Andersen, head of IT strategy and architecture, Elkjøp Nordic AS, one of the largest consumer electronics retailers in the Nordic countries. "With SAP Customer Data Platform, it is possible to create a contextual view of the customer and couple it with a unified profile, to better anticipate their wants and needs as they express them. This will increase the effectiveness of our engagement through real-time data management, while ensuring we are handling the data in a compliant and respectful way."

Building on a Strong Foundation
SAP Customer Data Platform is built on the foundation of SAP Customer Data Cloud solutions, which are based on Gigya technology. SAP Customer Identity and Access Management and SAP Enterprise Consent and Preference Management solutions are woven in to help ensure a secure and compliant digital profile. SAP Customer Data Platform serves as the connective tissue of the real-time profile, powering a customer insight foundation to deliver relevant conversation whenever the customer wants to engage with the brand.

"We did not invent CDP, but SAP Customer Data Platform opens the concept to a new world of opportunities," SAP Customer Experience President Bob Stutz said. "SAP Customer Data Platform is one of the most advanced enterprise-grade CDPs. It can truly deliver personalized experiences that nurture anonymous users into known, loyal customers using the customer's preferred channels, unifying vast amounts of front-office, back-office and experience data as only SAP can."

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About SAP
SAP's strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: 77% of the world's transaction revenue touches an SAP system. Our machine learning, Internet of Things (IoT) and advanced analytics technologies help turn customers' businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want — without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people's lives. For more information, visit www.sap.com.  

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FAQ

What is SAP's new product launched on October 14, 2020?

SAP launched the SAP Customer Data Platform.

How does SAP Customer Data Platform impact customer engagement?

It provides a unified view of customers, enhancing personalization across engagements.

What features does the SAP Customer Data Platform offer?

It offers data connectivity, privacy compliance, real-time analytics, and hyperpersonalization.

At which event was the SAP Customer Data Platform announced?

It was announced at the SAP Customer Experience LIVE event.

What industry standards does the SAP Customer Data Platform address?

It emphasizes data privacy and compliance with regulations.