In 2016, a new form of technology, christened the Customer Data Platform, started to gain a lot of attention in the marketing world for its ability to connect disparate data sources, such as a brand's CRM, email, marketing automation and eCommerce platforms, and do away with data silo issues. Essentially, a Customer Data Platform (CDP) will centralize all customer data, unify that data into a Single Customer View, and then enable you to push it to whatever execution or analysis tool needs it.
Over the years, marketers have bought, replaced and re-bought countless technologies with the aim of delivering 1-to-1 customer experiences. The different marketing platforms each help to store customer data, deliver insights to the business, and transfer the information to the marketing, sales and customer services teams, to aid their ability to deliver optimal customer experiences that drive more revenue.
The problem with acquiring new technologies, however, is that each new platform you add to your technology stack will create these silos of data, but also create silos of insights and a siloed way of executing a message or experience to the customer. When you consider that there are over 8,000+ marketing technologies to choose from (social media, content management, mobile, advertising etc), and that a marketing team may use as many as 40 tools to manage customer data, over time we've created a mass of silos everywhere.