Amplitude launches insights-driven customer data platform

Amplitude has announced the launch of Amplitude CDP, the first insights-driven customer data platform (CDP).

The platform both collects and analyses event data with its natively integrated product analytics solution. According to the company, with Amplitude CDP, product and marketing teams are able to improve data quality, analyse and discover new audiences, and sync data across their marketing and data stack.

Amplitude's CDP coupled with analytics is designed to help customers become more operationally efficient, enable better decision making, and increase customer engagement.

Overall, the goal of CDPs is to collect data that lead to insights that enable data-driven decision-making and customer experiences, the company states. However, critical unsolved challenges exist in the CDP market.

Data that is not proactively managed reduces the quality of insights. The various teams that collect, analyse and take action on customer data struggle to collaborate across multiple solutions. Furthermore, maintaining both a CDP and Product Analytics solution leads to duplicative costs and implementations.

With Amplitude CDP, customers have an integrated suite to turn high-quality data into actionable insights, according to the company. Key benefits of Amplitude's insights-driven CDP include:

• Improved data quality: ​​Data planning and governance are built-in to help data and engineering teams proactively maintain trust and quality.
• Better audience discovery: Many CDPs move right from data collection to activation, offering segmentation but assuming companies know what audiences to target. Now, deep segmentation combined with analytics helps teams discover audiences based on insights, putting audience discovery before audience activation for maximum engagement.
• Reduced costs and redundancies: With analytics natively integrated within Amplitude CDP, Amplitude eliminates duplicative costs for customers by providing a single platform that serves as the foundation for data, the engine for insights, and the driver for action.
• Accelerated time to insights: Built-in analytics unites product, growth, and marketing around shared data to unlock insights and actions anywhere in the stack.

Amplitude CEO and co-founder Spenser Skates says, "Customer data platforms entered the market with the promise of making personalisation a reality, but aggregating data is only step one. As companies look to provide tailored product experiences, they need trusted data that provides insights about their existing audiences and helps them identify new ones, all without unnecessary costs for their business.

"At Amplitude, we have spent the last few years helping customers solve the problems that existing CDPs in the market were unable to. With the launch of Amplitude CDP, we are now providing customers with the ability to provide meaningful, personalised experiences all from a single platform.

According to the company, more than 50% of Amplitude customers currently send data from Amplitude to other tools in their stack and Amplitude's integration ecosystem has grown to more than 65 out of the box connectors.

Amplitude states key innovations include:

• Unified user interface (UI): Create a single taxonomy for all digital analytics use cases to collect and capture consistent data in one UI.
• Event streaming: Federate data to martech, ad, and attribution vendors as well as data pipelines like Amazon Kinesis and Google Pub/Sub through a no-code configurable UI in the Data Connections catalogue.
• Real-time audience syncing: Match the cadence of marketing campaigns and use customer behaviour to drive in-the-moment engagement with real-time syncs that refresh audience lists every minute.
• Developer toolkit: Proactively collaborate with developers to define tracking plans with a best-in-class developer toolkit that saves engineers time and helps automate data validation with tracking libraries - no more typos, forgotten properties, or inconsistent naming conventions.

A RealCDP-certified solution, Amplitude CDP is available to Amplitude customers in the early access program and will be generally available later this year.