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OpenText Takes a Leap in Data Management with New Experience CDP

Open Text has announced the launch of OpenText Experience CDP, a powerful medium to deliver an effective personalization at scale. In the modern era of hyper-personalized experience management, Personalization is considered the holy grail of customer engagement and revenue generation, And, a powerful CDP can help any business achieve this with far better consistency and transparency.

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A CDP, offered as a software service on Cloud, can deliver a highly contextual unified customer database connected with your other marketing tools, including CRM and social media data aggregators. In the last few years, we have seen remarkable growth in the CDP landscape, most of which service the highly disrupted industries such as healthcare, telecom, retail commerce, and sales intelligence.

A recent CDP Institute Industry Update report predicts the industry should be worth $1.5 billion this year. CDP employment grew by 25% in 2020, to more than 10,000, and the number of CDP vendors grew by 35% to 133. Accelerated digital transformation during the COVID-19 pandemic made companies even more aware of the need for CDPs.

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OpenText™ Experience CDP, a new customer data platform, and an essential feature of the highly integrated OpenText™ Digital Experience Platform. Experience CDP increases prospect conversation rates by unifying customer data from first- and third-party data sources, including Google Marketing Platform, to enable better targeting and more relevant personalized and omnichannel experiences. Experience CDP is created in collaboration with Google Marketing Cloud. Powered to centralize the entire customer database management.

Experience Cloud integrates with Google Marketing Platform’s Marketing Audiences to track, improve and predict the nature and quality of interactions through the entire customer journey. Empowered by real-time insights, marketing teams could find it easier to create personalized campaigns that drive higher conversion rates across channels.

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In addition to a new CDP, OpenText also introduced the OpenText™ Magellan Risk Guard, a new AI solution that helps organizations ensure compliance and mitigate risk by uncovering and remediating potentially sensitive, inappropriate, or detrimental text, images, or video content within business systems. Risk Guard is easy to deploy and includes 20 prebuilt AI models that identify risk across 50 pre-defined categories such as personally identifiable information (PII), drugs, alcohol, and violence.

[To share your insights with us, please write to sghosh@martechseries.com]

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