Amplitude, Inc. , the digital optimization pioneer, today announced the release of Amplitude CDP, the first insights-driven customer data platform (CDP). Unlike other CDPs that rely on third-party analytics solutions to gather and analyze event data, Amplitude CDP gathers and processes event data including its natively integrated industry-leading product analytics solution. Product and marketing teams can use Amplitude CDP to proactively enhance data quality, analyze and identify new audiences, and sync data across their marketing and data stack. Amplitude's CDP, in conjunction with analytics, assists clients in being more operationally effective, enabling better, quicker decision making, and increasing customer engagement.
CDPs gather data to provide insights that allow data-driven decision-making and consumer experiences. However, Amplitude discovered major unaddressed difficulties in the CDP industry, which is expected to reach $20.5 billion by 2027 after working with hundreds of firms and analyzing over 1 trillion consumer data points every month. Data that is not maintained proactively affects the quality of insights. The many teams responsible for collecting, analyzing, and acting on consumer data struggle to cooperate across diverse systems. Maintaining both a CDP and a Product Analytics solution results in redundant expenditures and installations. Customers may use Amplitude CDP to transform high-quality data into meaningful insights.
“Customer data platforms entered the market with the promise of making personalization 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, personalized experiences all from a single platform.”
Spenser Skates, CEO and co-founder of Amplitude
Amplitude has been delivering technologies that assist teams in collecting, managing, and activating consumer data for years. Amplitude users now transmit data from Amplitude to other tools in their stack, and Amplitude's integration ecosystem has expanded to over 65 out-of-the-box connections. Customers such as Kahoot!, Hex, InvoiceSimple, Marco Polo, and Thrive Market are already utilizing Amplitude CDP and benefit from improved capabilities to provide accurate, actionable analytics.
Sasha Siddhartha, co-founder and CTO at Thrive Market said that “Capturing, managing, and understanding every touchpoint across the customer journey is critical to business growth, and we needed a single source of truth from which to understand and better predict our customers’ behavior. As a fast-growing business, we wanted to simplify our stack and invest in a robust data infrastructure that could easily scale at the pace of our increasing user and data volume. We were already leveraging Amplitude’s deep analytics capabilities within our product, so using Amplitude CDP was a powerful and cost-effective solution for our team. Amplitude CDP now helps power our 360-degree view of our members, allowing us to focus on 1:1 personalization and driving customer lifetime value.”
Amplitude CDP, a RealCDP-certified solution, is now accessible to Amplitude clients in the early access program and will be broadly available later this year. Amplitude CDP will be free for users streaming less than 10 million events per month, an offer that is more than ten times better than some of the market's top CDPs.