NEW YORK, Jan. 29, 2020 /PRNewswire-PRWeb/ -- mParticle, the Customer Data Platform (CDP) of choice for multi-channel consumer brands, today announced significant product enhancements to its Data Master product to help increase data trust and quality throughout the pipeline, and across teams. Additionally, mParticle announced the early access to Calculated Attributes, a data transformation feature that allows companies to dynamically create new user-level data based on existing data. With these capabilities, teams can improve personalization efforts and derive better insights, creating compounding effects throughout the entire product and customer lifecycle.
In 2017, Gartner estimated that companies lose $15M on average to data quality problems, and HBR reports that only 3% of organizations' data meets basic quality standards. With more being created and consumed by more systems, sources, applications, and endpoints; organizations often find themselves dealing with suboptimal data sets that leads to poor analytics, and underperforming marketing strategies. The problem is further amplified in a connected stack, where data quality issues that are left unaddressed destroy value at a compounding rate.
With mParticle's latest data quality enforcement capabilities, companies can create a cohesive data strategy and ensure there is truth throughout their pipeline, which benefits consumers of that data throughout the organization.
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"In working with some of the most innovative consumer brands, we have seen firsthand the compounding effects of data quality over time. Poor data quality increasingly degrades performance, while high-quality data improves performance over time," said Michael Katz, CEO and co-founder of mParticle, "Data quality must be managed over time, and in fact, we have never seen a 'set it and forget it' strategy successfully executed over any meaningful timespan. If your data quality is not improving, it is degrading."
mParticle is also announcing capabilities to assist data teams dynamically create user-level data from existing event and attribute data. With Calculated Attributes, teams can apply various conditions to their existing data in mParticle to dynamically create new user attributes that can be used to enrich audiences, drive increased personalization, enhance analytics, and improve speed to market. Calculated Attributes can be applied to dynamically track lifetime value, calculate aggregate values, map preferences or create propensity scores, user behavior lists, and time-based calculations. The benefits seen by existing customers include:
"Customer Data exists across the entire product lifecycle, but is not managed holistically across all phases. Consequently, data management becomes siloed both organizationally and technically," said Craig Kelly, Head of Product for mParticle. "These updates will create better collaboration across teams and functions for true cross-channel personalization."
For additional details on Data Master and Calculated Attributes, please visit: https://www.mparticle.com/blog/data-master-data-flywheel
About mParticle
mParticle is the Customer Data Platform of choice for multi-channel consumer brands. Sophisticated marketers at companies like Spotify, Paypal, NBCUniversal, Starbucks, and Airbnb use mParticle to integrate and orchestrate their entire marketing stack, enabling them to win in key moments of the customer journey. Founded in 2013, mParticle is headquartered in New York City with offices in San Francisco, Seattle, and London and manages more than 500 billion API calls monthly.
SOURCE mParticle
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