Customer Data Platforms
To understand what’s driving growth in the marketing and analytics category, and what types of companies are most likely to sign up for the use of these solutions in order to get up to speed for an introductory meeting.
- The Marketing Analytics market size in the US was valued at $847.81 million in 2017 and is expected to grow at a CAGR of 12.9%.
- "Companies these days use multiple channels to keep the customers informed and connected with them. Analytics solution allows them to keep track of the impact of the actions taken. This has resulted in the integration of these solutions with the existing ERP solution, which is beneficial in using the generated and available data."
- The marketing analytics market is growing due to the utilization of the marketing budget for an effective ROI and the adoption of cloud and big data.
- "Over the course of 2017, technology giants, like Google, Adobe, Salesforce, and Oracle added more data sources to their ever-growing marketing capabilities. This particular trend is expected to continue, as businesses of all sizes work to lessen the complexity of data collection, cleansing, and usage across their organizations."
Master Data Management
- Organizations handle a large amount of information and consequently, large amounts of data. They do this through master data management. One segment of the master data management (MDM) industry is customer MDM.
- "In Europe, the rising cloud spending by governments of countries such as the U.K., Germany, and France is observed to be one of the major reasons for massive cloud adoption in both the public and private sectors of Europe. As a part of the strategy, several vendors are investing in tools development specific to a particular application and are focused on new product developments, partnerships, and mergers and acquisitions in order to increase geographical reach in the global master data management market."
- Key players in this market are IBM (US), SAP (Germany), Oracle (US), SAS Institute (US), Teradata (US), Informatica (US), Talend (US), TIBCO Software (US), Riversand (US), SyncForce (Netherlands), Profisee Group (US), Reltio (US), Semarchy (US), Stibo Systems (Denmark), and EnterWorks (US).
Companies Likely to Use These Solutions
- Amazon, Netflix, and Google have built their empires around behavior data of customers and its analytics.
- Customer behavior data is used by companies to deliver personalized experiences.
- Some other companies that are using big data include American Express, BDO, Capital One, General Electric, Miniclip, Next Big Sound, Starbucks, and T-Mobile.
Proposed next steps:
You need to be the project owner to select a next step.
As per our initial research, information pertaining to this market is available and we recommend continuing the research by looking into the growth drivers of the industry and the types of companies that are likely to use these solutions.
Please clarify the following:
1) We found three relevant markets, namely marketing analytics, big data, and master data management. Please identify which market suits your needs best. [You can also choose to analyze all three of them - scope will be adjusted as per your selection].
2) Please clarify if the research should focus on the US or globally-focused research is fine.