loss of reputation and customer trust, and legal liability, considering most organizations today are subject to somedata privacystandard or regulation. Data protection is one of the key challenges of digital transformation in organizations of all ...
The termconsumer datais commonly used interchangeably withcustomer data. In some cases, however, the two are distinguished from one other to provide a context for the data. For example, an organization might use only the data it collects from its customers when planning a new product line. On...
A CDP or Customer Data Platform is a type of packaged software that creates a persistent, unified customer database that is accessible to other systems. Data is pulled from multiple sources, cleaned, and combined to create a single customer profile. This structured data is then made available ...
What Is a Service Provider Under VCDPA? Under the Virginia Consumer Data Protection Act, service providers are considered "processors." A processor would refer to any entity performing a task for the data "controller"—the company collecting the data and deciding how to use it. Under the VCD...
What is a customer data platform used for? Customer preferences are constantly evolving, makingpersonalizationa daunting task unless you have a system to sift through massive amounts of cross-channel data and map it back to customer profiles. This scalability is a crucial aspect of CDPs. ...
Data quality.Data should be managed frequently to optimize resources. To ensuredata quality, organizations must verify that all data is valid, has beenscrubbedand is up to date. Data security.Once in place, CDM services should be secure. Customer privacy needs to be protected and security best...
Why CRM is critical for business growth and success Here are five of the major benefits of a CDP: 1. Get a single source of truth for each customer CDPs do more than just collect and store customer information. They process and enrich this data, creating unified profiles called single cust...
Data portability emphasizes the seamless movement of data across platforms and services. This trend gives individuals greater control over their data by facilitating its transfer between apps and systems. Data portability also aligns with the general trend toward greater customer transparency and empowerment...
Understanding the Consumer Credit Protection Act of 1968 (CCPA) The CCPA, in part, regulates the fair reporting of a customer's financial information, as well as prohibiting deceptive advertising and discrimination bycreditors. It also makes the terms of loans more transparent to borrowers who may...
A data protection officer (DPO) is a position within a corporation that acts as an independent advocate for the proper care and use of customer’s information. The role of a data protection officer was formally laid out by the European Union as part of itsGeneral Data Protection Regulation(GD...