- Currently, this feature is only available for the Snowflake data cloud. The company said that support for other data platforms like Google BigQuery, Amazon RedShift, and Microsoft Azure would come gradually.
- More than 300 real-time marketing and customer engagement APIs can leverage the rich customer data that is instantly unlocked from data warehouses.
mParticle, a New York-based Artificial Intelligence (AI)-driven real-time Customer Data Platform (CDP) provider, announced the addition of a new Warehouse Sync feature to its core offering.
According to the company, the capability enables businesses to immediately ingest customer data from their data warehouse instance, allowing data teams to save money and time on gathering and using the data for personalization and use cases. Currently, this feature is only available for the Snowflake data cloud. The company said that support for other data platforms like Google BigQuery, Amazon RedShift, and Microsoft Azure would come gradually.
How would businesses gain from this change?
Since its introduction in 2013, mParticle’s CDP has offered businesses a single view of the customer along with pertinent data and forecasts to help them tailor their marketing, product, or customer experience initiatives. To utilize the information, the solution gathers data from various channels in real-time, transforms it into something meaningful, and then connects it to pertinent marketing or sales solutions.
Until this point, the solution’s ingestion phase remained dependent on third-party integration. Users had to use the Hightouch platform to sync events, and user attributes or move historical customer data from a warehouse and query it.
The company is now altering all of this by enabling conventional reverse-ETL flows from data warehouses and offering a full-service data infrastructure to serve businesses as they expand. It instantly unlocks valuable customer data from data warehouses, allowing it to be leveraged by more than 300 real-time marketing and customer engagement APIs.
According to Michael Katz, CEO and co-founder of mParticle, “The cloud data warehouse is an important source of rich customer data which teams need to incorporate into their data strategies. The customer data stack and the data engineering stack are beginning to converge, which, we believe, will unlock new opportunities for teams of all sizes, and we’re excited to expand our offering with this latest feature.”
The growth narrative of the mParticle consumer data platform
Journeys, a toolkit by mParticle that gathers data from user journey analysis, testing, and orchestration into a single automated workflow, was introduced earlier this year by mParticle.
In the meanwhile, the firm disclosed in August that it had acquired Vidora, a platform that enables businesses to use consumer data to forecast future user behavior and then use that information in their marketing strategies to take action.
Its most recent announcement continues to expand the platform’s capabilities.
Large companies like NBCUniversal, Venmo, Overstock, Burger King, JetBlue, and Airbnb are partners of mParticle. According to Crunchbase, the company has raised close to USD 300 million in total capital.
Along with the company’s expansion, the market sector it serves is also expanding. According to Fortune Business Insights, the global market for consumer data platforms will increase at a compound annual growth rate of approximately 25%, from USD 1.42 billion in 2022 to USD 6.94 billion in 2029.