Customer data is a critical asset for companies today. Unfortunately, data collection has outpaced many organisations’ security and privacy technology and left them open to data mismanagement and theft. Consumers know this and are exerting ever more control over how their data is used, whether through pressuring for privacy regulations such as GDPR and CCPA or by simply opting out. At the same time, companies face an ever-growing web of internal, contractual and regional privacy policies they must enforce, while still getting marketers the data they need to create great experiences.
Many customer data platforms (CDPs) on the market simply aren’t robust enough to ensure responsible data usage. While most advertise some type of data management, they lack the real-time data governance framework that lets companies set and enforce the multitude of data policies they must meet on an ongoing basis.