Total Economic Impact of Amperity Customer Data Management

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A Forrester Total Economic Impact™ Study Commissioned By Amperity April 2019

The Total Economic Impact™ Of Amperity Customer Data Management

Cost Savings And Business Benefits Enabled By Amperity Customer Data Management

Table Of Contents Executive Summary Key Findings TEI Framework And Methodology The Amperity Customer Data Management Journey Interviewed Organizations

1 2 4 5 5

Key Challenges

5

Why Amperity?

6

Key Results

7

Composite Organization – Abtenauer Inc.

8

Analysis Of Benefits Benefit 1: Initial Data Integration Speed Lift

9 9

Benefit 2: Productivity Improvements For Ongoing Data Management 10 Benefit 3: Increased ROAS From Better Targeting

11

Benefit 4: Additional Revenue From New Loyalty Program Members 12

Project Director: Veronica Iles

Benefit 5: Email Campaign Savings

14

Benefit 6: Increased RPE Due To Improved Personalization

15

Unquantified Benefits

16

Flexibility

17

Analysis Of Costs Cost 1: Initial Implementation

19 19

Cost 2: Ongoing Labor Costs

20

Cost 3: Annual Licensing Fee

21

Financial Summary Amperity Customer Data Management: Overview Appendix A: Total Economic Impact Appendix B: Supplemental Material Appendix C: Endnotes

22 23 24 25 26

Executive Summary Benefits (PV)

Data integration speed lift:

$670K

Ongoing data management productivity lift:

$2.4M

Increased ROAS from better targeting:

$16.8M

Revenue from new loyalty program members:

$7.5M

Email campaign savings:

$7.1M

“Wrangling customer data has always been a herculean task, and it's growing increasingly difficult as customer touchpoints proliferate. Adding complexity, consumers are more privacy conscious, so brands must be efficient with their existing customer data.” 1 Amperity’s technology focuses on giving its users a complete and actionable view of their customer. By using artificial intelligence and cloud scale, Amperity can accurately resolve customer identities and unify large volumes of formerly siloed data even when it’s incomplete, inconsistent, and lacks unique identifiers. Amperity commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential ROI enterprises may realize by deploying Amperity. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Amperity on their organizations. To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed customers with experience using Amperity. Prior to using Amperity, the interviewed organizations attempted to create a complete view of their customers through homegrown legacy systems. However, prior attempts yielded limited success, leaving these organizations with duplicative records, incomplete profiles, and limited or inaccurate insights about their customers. These legacy solutions took years of development time and effort and ultimately fell short of meeting their intended purposes. The organizations searched for a solution that could unify data across silos continuously, help drive higher revenues, increase customer engagement and loyalty, and be adaptable to the constant growth and changing needs of the organization. Most importantly, the organizations desired a future-proof customer data management solution to be the foundation for empowering meaningful customer experiences across the enterprise. Forrester developed a composite organization based on data gathered from customer interviews to reflect the total economic impact that Amperity could have on an organization. The composite, Abtenauer Inc., is representative of the organizations that Forrester interviewed and is used to present the aggregate financial analysis in this study. All values are reported in a risk-adjusted and three-year present value (PV) unless otherwise indicated. The composite organization in this study has the following characteristics: › B2C organization with annual revenues of $10B. › Income margin of 10%.

Revenue per email lift:

$8.8M

› 115M customers. › Headquartered in the US with European presence. › 15 FTEs managing customer profiles. › Average order value of $110.

1 | The Total Economic Impact™ Of Amperity Customer Data Management

Key Findings Quantified benefits. The following risk-adjusted present value (PV) quantified benefits are representative of those experienced by the companies interviewed: › Increase in speed to ingest and fully integrate new data sources by 85%. Organizations using Amperity found that they could ingest and integrate new sources of customer data in a fraction of the time it took them before Amperity. Over three years, with a cumulative total of 15 sources, the shorter integration cycle was worth $670,291 to Abtenauer. › Productivity improvements of 80% for ongoing customer data management. Data engineers using Amperity were able to reduce the amount of time spent on ongoing data management and engineering. Over three years, the lift was worth $2,417,220 to Abtenauer. › Better targeting boosts return on ad spend (ROAS) by 5%. Current and complete customer profiles enabled precise targeting, reducing inefficient marketing spend. Over three years, the increase in ROAS was worth $16,794,515 to Abtenauer. › Targeted and personalized messaging promoted higher open and registration rates, driving additional loyalty program registrations and a subsequent lift in revenue. Organizations used Amperity’s unified customer profiles to power relevant and customized email content and targeting, encouraging customers to join loyalty programs. These campaigns proved successful, increasing loyalty registration rates from 1% to 3%. Abtenauer’s loyalty program members can be expected to make at least three additional purchases, driving $7,536,865 in present value income over three years. › Increased cost effectiveness for email campaigns as a result of deduplicating customer records. As organizations consolidate customer records, they reduce waste by executing more precise email campaigns. For Abtenauer, which sends three emails a month to its customer database at a price of $0.001 per email, the three-year present value of email savings is $7,174,108. › Revenue per email lift from personalization. The ability to accurately customize email content to customers increases the revenue per email (RPE) metric for organizations. Abtenauer customizes 50% of its email content and experiences a 15% lift in RPE. When attributing 50% of the lift to Amperity and considering a 10% margin, the three-year present value of the net income is $8,768,354. Unquantified benefits. The interviewed organizations experienced the following benefits, which are not quantified for this study: › Complete and consistent customer 360 degree views rally strategic alignment and engagement across organization. Through Amperity, leadership and business stakeholders can access accurate customerbased insights that are consistent across the business. This empowers strategic customer obsession and the design of improved customer initiatives across the organization. › Increased confidence in the quality of data. Interviewees were confident that Amperity’s data unification capabilities produce highquality data, allowing them to rely on it with more certainty.

2 | The Total Economic Impact™ Of Amperity Customer Data Management

ROI 993%

Benefits PV $43.4 million

NPV $39.4 million

Payback

<1 data-preserve-html-node="true" year

› Research and survey tool consolidation. Amperity’s complete view of the customer allowed organizations to consolidate their existing research and survey tools, providing a productivity lift to the market research team and avoiding vendor fees. › Avoided consultant fees and increased productivity during loyalty program integration. During the integration of a new brand or company through an acquisition, organizations using Amperity could forgo the expense and delay associated with outside consultants for customer data and loyalty program integration support. Instead, organizations can seamlessly and continuously integrate the new loyalty data using Amperity. Costs. The interviewed organizations experienced the following risk-adjusted PV costs: › Initial implementation requiring 36 hours of data engineer involvement. Over three phases, organizations point Amperity to disparate data systems and participate in weekly update calls. The cost of implementation is less than $2K. › Ongoing data management requiring 4.5 FTEs. Ongoing labor for customer profile data management is reduced overall as a result of investing in Amperity. The ongoing time and effort of 4.5 employees over three years is $1.2M. › Annual licensing fee of $1M. Licensing fees are determined on overall size and complexity of systems, customer base, and execution channels, rather than on volume of data processed. Once adjusted for risk, the three-year present value of the license fee is $2.7M. Synopsis. Forrester’s interviews with two existing customers and subsequent financial analysis found that an organization based on these interviewed organizations experienced benefits of $43.4 million over three years versus costs of $4.0 million, adding up to a net present value (NPV) of $39.4 million and an ROI of 993%.

Financial Summary

Total benefits PV, $43.4M

Initial

Year 1

3 | The Total Economic Impact™ Of Amperity Customer Data Management

Year 2

Total costs PV, $4.0M Year 3

TEI Framework And Methodology From the information provided in the interviews, Forrester has constructed a Total Economic Impact™ (TEI) framework for those organizations considering implementing Amperity. The objective of the framework is to identify the cost, benefit, flexibility, and risk factors that affect the investment decision. Forrester took a multistep approach to evaluate the impact that Amperity can have on an organization:

The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.

DUE DILIGENCE Interviewed Amperity stakeholders and Forrester analysts to gather data relative to Amperity. CUSTOMER INTERVIEWS Interviewed two organizations using Amperity to obtain data with respect to costs, benefits, and risks. COMPOSITE ORGANIZATION Designed a composite organization based on characteristics of the interviewed organizations. FINANCIAL MODEL FRAMEWORK Constructed a financial model representative of the interviews using the TEI methodology and risk-adjusted the financial model based on issues and concerns of the interviewed organizations. CASE STUDY Employed four fundamental elements of TEI in modeling Amperity’s impact: benefits, costs, flexibility, and risks. Given the increasing sophistication that enterprises have regarding ROI analyses related to IT investments, Forrester’s TEI methodology serves to provide a complete picture of the total economic impact of purchase decisions. Please see Appendix A for additional information on the TEI methodology.

DISCLOSURES Readers should be aware of the following: This study is commissioned by Amperity and delivered by Forrester Consulting. It is not meant to be used as a competitive analysis. Forrester makes no assumptions as to the potential ROI that other organizations will receive. Forrester strongly advises that readers use their own estimates within the framework provided in the report to determine the appropriateness of an investment in Amperity Customer Data and Identity Platform. Amperity reviewed and provided feedback to Forrester, but Forrester maintains editorial control over the study and its findings and does not accept changes to the study that contradict Forrester’s findings or obscure the meaning of the study. Amperity provided the customer names for the interviews but did not participate in the interviews.

4 | The Total Economic Impact™ Of Amperity Customer Data Management

The Amperity Customer Data Management Journey BEFORE AND AFTER THE INVESTMENT IN AMPERITY CUSTOMER DATA MANAGEMENT

Interviewed Organizations For this study, Forrester conducted two interviews with Amperity customers. Interviewed customers include the following: INDUSTRY

REGION

INTERVIEWEE(S)

SIZE

Travel and hospitality

North America

• Guest experience program manager • Managing director of guest loyalty

• $8B revenue • 22K employees • 64M customers

B2C retail

Worldwide

Senior VP of customer and data analytics

• $16B revenue • 145K employees • 166M customers

Key Challenges Prior to adopting Amperity, interviewees spoke of several challenges and pain points hindering their attempts to create a complete view of their customer: › Difficult and time-consuming to stitch new sources into existing database. Preparing data for ingress into the customer database was incredibly time-consuming for organizations, and any change to the master schema resulted in additional extract, transform, load (ETL) and IT labor. A guest experience program manager voiced her struggle: “We’ve made several efforts to try and unify our customer data. We started with a traditional legacy system like an enterprise data warehouse with ETLs. It is very slow, and every single time you want to add an additional attribute to the customer it takes a long time.” › Expensive and disappointing results from in-house solutions. Prior attempts to bring systems and data together in a meaningful way using a homegrown solution did not solve the customer unification problem. Organizations found that the breadth of data and time required to build a customer 360 degree view were monumental. One interviewee described its attempt: “We’ve taken steps at trying to unify our guest data and every single time the scope of that project was too big and then we ended up having to scale it down. We had to scale down the scope so much just to get it done within two years that it basically became a communication preference center as opposed to an actual single view of the guest.” › Garbage in, garbage out. Despite the necessary data existing within disparate systems, the methods used by the interviewed organizations to combine their customer information resulted in, at best, incomplete customer profiles and, at worst, incorrect combinations. Without a complete customer profile, these organizations struggled to trust their data and use it properly. The senior VP of customer data and analytics told Forrester, “We were collapsing customer records together that shouldn’t have been, and the results were that we’d show you 5 | The Total Economic Impact™ Of Amperity Customer Data Management

“One of the problems for our company has been in bringing together and stitching together all the bits and pieces of customer information to create a master record of the customer. That’s been a general pain point for all retailers and specifically for us.” Senior VP of customer data and analytics, B2C retail

“There has been a hunger for customer data across the business for a really long time.” Guest experience program manager, travel and hospitality

information that wasn’t yours.” › Slow batch processing. Organizations struggled to keep up with their customers as their legacy solution used sluggish batch processing to update customer transactions. A senior VP of customer data and analytics remarked, “The system we had in place was a 15-year-old computer script that someone wrote years ago, and it runs once a day, maybe once every two days; it’s not real-time.” › Inaccessible data across the organization. Interviewees were frustrated by the limiting nature of their legacy solutions, knowing that data existed in various places but with significant boundaries to access. One interviewee commented: “The problem with [the legacy solution] is that it’s only accessible to certain groups of people. So, only analysts with SQL or querying skill sets could get to the data. You would need an engineer to be able to unlock the data.”

Why Amperity? The interviewed organizations cited the following reasons for choosing Amperity over an alternative: › Amperity’s commitment to customer identity resolution and data unification. With many customer data management solutions available on the market today, interviewees were drawn to Amperity because of its dedication to solving identity obstacles and creating a complete customer profile, even when sources lacked linking keys. This sentiment was expressed by one interviewee: “There are a lot of companies who call themselves customer data platforms (CDPs). What they were trying to do is create end-to-end solutions from bringing data together: creating segmentation platforms, creating reporting, having the ability to connect to activation platforms to marketing email systems, and so forth. And while they get enough of each of those functional parts to create an endto-end solution that worked, they weren’t really great at any one of those specific areas, specifically with regards to identity resolution.” › Flexibility and scalability. Amperity’s technology allows for rapid ingestion of large amounts of data, in its raw format, allowing organizations the flexibility to easily change attributes, scale with new data sources, and adapt to the changing needs of the organization. › Timely insights. Tired of profiles trailing days or weeks behind customer behavior, the interviewed organizations were looking for a solution that would give continuous insights across channels. One interviewee told Forrester: “As we look toward the future, we will have real-time personalization across our websites, in our apps, and in store. We will be able to immigrate new data sources quickly to drive value. If that’s our future state, we knew we needed a new engine to consolidate and stitch together customer information.” › Anything we can do, Amperity can do better. After failed attempts to perfectly combine customer data across silos, interviewees were ready to hand the task off to the professionals. One interviewee said: “We have a vision for what we want to do with regard to powering customer experiences, and Amperity powers this vision. That’s a problem we will need to solve, and the question is, do we want to do it ourselves or do we want to have a third party who is an expert in this do it for us?”

6 | The Total Economic Impact™ Of Amperity Customer Data Management

Organizational goal: Invest in the long-term vision of real-time personalization across experiences and channels, starting with truly knowing the customer.

Key Results The interviews revealed several key advantages derived from the Amperity investment including: › Faster data ingestion, preparation, and integration. Organizations experienced a lift of 85% when using Amperity because data can be ingested in its native format at scale and then be easily integrated using machine intelligence. Prior attempts to bring in new sources took about 24 weeks, required manual processes, and could result in lost data. When running the same process with Amperity, new data sources could be fully incorporated in four weeks. The value associated with this lift varies with the number of sources ingested each year, but when ingesting 15 sources over the course of three years, the risk-adjusted value is over $670K. › Ongoing data management productivity improvements. The interviewed organizations found that Amperity’s technology allows their data engineers to operate more efficiently than when they were operating with legacy software. The technologists experienced an 80% productivity lift with Amperity. The risk-adjusted, three-year value associated with the productivity lift is over $2M. › Better targeting based on complete and current profiles. The speed of Amperity’s data processing allowed marketers to suppress unnecessary advertising and power better targeting, driving a ROAS lift of 5%. This type of targeting was impossible in the legacy environment due to slower, batch data processing and the necessary information living in siloed sources. The suppression, when applied to a paid media budget of $100 million, drove a three-year, risk-adjusted savings of more than $16M. › New loyalty program members and incremental revenue. Using precise targeting and customized content based on Amperity-built customer profiles, the interviewed organizations drove a 190% increase in registration rates for the program. The incremental threeyear, risk-adjusted net income associated with these new loyalty members is over $7M. › Deduplication of records and associated email campaign savings. The rates at which Amperity deduplicates customer records was significant for each of the interviewed organizations at over 50%. When applied to a three-emails-per-month campaign, the more targeted efforts resulted in a three-year, risk-adjusted savings of over $7M. › Revenue per email (RPE) lift of 15%. Using complete customer profiles, customers were able to send personalized messages with relevant and custom content. As a result, customized emails drove an RPE lift. When custom content is included in 50% of annual emails, the more targeted efforts resulted in a three-year, risk-adjusted net income of over $8M.

7 | The Total Economic Impact™ Of Amperity Customer Data Management

Composite Organization – Abtenauer Inc. Based on the interviews, Forrester constructed a TEI framework, a composite company, and an associated ROI analysis that illustrates the areas financially affected. The composite organization is representative of the two companies that Forrester interviewed and is used to present the aggregate financial analysis in the next section. The composite organization that Forrester synthesized from the customer interviews has the following characteristics: Description of composite. Abtenauer is a US-based B2C company with strong brick-and-mortar and digital presences in North America and Europe. Abtenauer’s business philosophy focuses on creating great experiences for its customers. The organization has a strong brand, a large customer base of 115 million customers and a dedicated team of 15 FTE technologists managing its customer profiles, data, and analytics. Abtenauer’s average order value (AOV) is $110. Abtenauer uses Amperity to unify its customer data to build a single view of its customer across siloed data sources in order to drive greater customer engagement and loyalty.

8 | The Total Economic Impact™ Of Amperity Customer Data Management

Key assumptions: Industry – B2C Revenue – $10B Customers – 115M Headquarters – USA AOV – $110

Analysis Of Benefits QUANTIFIED BENEFIT DATA AS APPLIED TO THE COMPOSITE

Total Benefits REF.

BENEFIT

YEAR 1

YEAR 2

YEAR 3

TOTAL

PRESENT VALUE

Atr

Initial data integration speed lift

$415,440

$259,650

$103,860

$778,950

$670,291

Btr

Productivity improvements for ongoing data management

$972,000

$972,000

$972,000

$2,916,000

$2,417,220

Ctr

Increased ROAS from better targeting

$6,175,000

$6,792,500

$7,410,000

$20,377,500

$16,794,515

Dtr

Additional revenue from new loyalty program members

$3,030,685

$3,030,685

$3,030,685

$9,092,054

$7,536,865

Etr

Email campaign savings

$2,884,815

$2,884,815

$2,884,815

$8,654,445

$7,174,108

Ftr

Increased revenue per email due to improved personalization

$3,525,885

$3,525,885

$3,525,885

$10,577,655

$8,768,354

Total benefits (risk-adjusted)

$17,003,825

$17,465,535

$17,927,245

$52,396,604

$43,361,353

Benefit 1: Initial Data Integration Speed Lift Both interviewed organizations were faced with the challenge of creating a single complete view of their customers across multiple siloed sources of data. Data sources included email, point-of-sale transactions, eCommerce, loyalty databases, as well as new data as a result of multiple brands consolidating. Before investing in Amperity, bringing customer data together from across an organization was time-consuming, labor-intensive, and often only combined data subsets, resulting in an incomplete view of the customer. Per one interviewee: “[Before Amperity], if you wanted to bring in new sources of data, that would typically take a long time, because the approach to doing it was fairly manual. If we were to bring in a new data source, it would have taken three to six months.” After investing in Amperity, organizations found that the technology ingests customer data in its native format, removing the need for data engineers to scrub the data and reducing the length of time to integrate new sources of data. One interviewee told Forrester: “With the new platform, [integrating a new source] can take around a couple of weeks. I think that’s one of the benefits of Amperity, the process brings things to life much faster.” In order to capture the benefit experienced by the interviewed organizations, Forrester applies the following assumptions to the composite organization: › Before using Amperity, source integration took 24 weeks. With Amperity, the integration of a new source takes only four weeks, providing a productivity lift of 85% to Abtenauer.

9 | The Total Economic Impact™ Of Amperity Customer Data Management

The table above shows the total of all benefits across the areas listed below, as well as present values (PVs) discounted at 10%. Over three years, the composite organization expects risk-adjusted total benefits to have a PV of nearly $43 million.

“If we add a new brand, it requires a lot of investment and time, and we want to add new data sources so it’s even more of an investment.” Senior VP of customer data and analytics, B2C retail

Impact risk is the risk that the business or technology needs of the organization may not be met by the investment, resulting in lower overall total benefits. The greater the uncertainty, the wider the potential range of outcomes for benefit estimates.

› The fully burdened salary for a data engineer is $150,000. › Abtenauer integrates a decreasing number of new data sources each year: 8,5, and 2 in Years 1, 2, and 3, respectively. The productivity lift associated with data integration will vary with: › Number of sources integrated each year. › The nature of integration prior to adopting Amperity. Organizations with more manual processes may see greater time savings. › Fully burdened salary of parties responsible for data integration. To account for these risks, Forrester adjusted this benefit downward by 10%, yielding a three-year, risk-adjusted total PV of $670,291. Initial Data Integration Speed Lift: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

A1

Average number of new data sources ingested each year

Composite

8

5

2

A2

Weeks to ingest a new data source before using Amperity

Interviews

24

24

24

A3

Percentage of time saved using Amperity

Interviews

85%

85%

85%

A4

Weeks saved by ingesting data using Amperity

A2*A3 (rounded)

20

20

20

A5

Weeks to ingest a new data source using Amperity

A2-A4

4

4

4

A6

IT FTE burdened annual salary

Composite

$150,000

$150,000

$150,000

A7

IT FTE weekly rate

A6/52 weeks

$2,885

$2,885

$2,885

At

Initial data integration speed lift

A1A4A7

$461,600

$288,500

$115,400

Risk adjustment

↓10% $415,440

$259,650

$103,860

Atr

Initial data integration speed lift (risk-adjusted)

Benefit 2: Productivity Improvements For Ongoing Data Management Even after data sources undergo initial integration, organizations are still tasked with ongoing management of the system. Before Amperity, one organization described the intricacies of making changes to its data: “It was fairly intense to open up that code, and I don’t have many people who understood the code that was written 15 years ago. So, in addition to engineering resources, a lot of QA was performed to make sure that nothing else broke in the process.” After the investment, the interviewed organizations found that Amperity’s technology allows their data engineers to operate more efficiently, dedicating less of their time to monitoring, maintenance, QA, and ongoing data engineering. For the composite organization, Forrester assumes: › Abtenauer has 15 data engineers that are tasked with managing the data related to customer profiles. 10 | The Total Economic Impact™ Of Amperity Customer Data Management

› The data engineers dedicate 60% of their time to managing customer profiles. › As a result of using Amperity, the engineers experience a productivity lift of 80%. › The fully burdened salary for a data engineer is $150,000. To account for these risks, Forrester adjusted this benefit downward by 10%, yielding a three-year, risk-adjusted total PV of $2,417,220. Productivity Improvements For Ongoing Data Management: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

B1

IT FTE tasked with managing customer profiles without Amperity

Interviews

15

15

15

B2

Percentage of time data engineers spend managing customer profiles

Interviews

60%

60%

60%

B3

Productivity improvements as a result of using Amperity

Interviews

80%

80%

80%

B4

IT FTE burdened annual salary

Composite

$150,000

$150,000

$150,000

Bt

Productivity improvements for ongoing data management

B1B2B3*B4

$1,080,000

$1,080,000

$1,080,000

Risk adjustment

↓10% $972,000

$972,000

$972,000

Btr

Productivity improvements for ongoing data management (risk-adjusted)

Benefit 3: Increased ROAS From Better Targeting The interviewed organizations struggled to unify and activate customer data across systems in a timely manner, resulting in inefficient advertising spend. Amperity data is continually updated, bridging the gap left by legacy solutions and aiding in improved targeting. Before the investment in Amperity, customer data was not updated continuously with new information. Organizations were slow to respond, resulting in wasted dollars and irrelevant messaging. The senior VP of customer data and analytics described his organization’s experience saying: “In our legacy environment we were not able to know who made a purchase until two weeks after they made it. And so, what ends up happening during that two-week period is we’re remarketing to them. For somebody who has already purchased, we’ve wasted our marketing dollars. And we’ll frustrate the customer.” After the move to Amperity, information is updated continuously, allowing the organizations to improve targeting and increase the efficiency of their marketing spend. The managing director of guest loyalty described the change in her organization’s marketing tactics, saying, “We’re targeting now based on actual customer activity, instead of in the past where we would target based on the few things we did know about them and they were generally delayed. Now we’re able to target customers with messaging in real time, nearly, based on activity.” To capture the experiences of the interviewed organizations, the following assumptions are made for the composite: › Abtenauer allocates 10% of its revenue for a marketing budget. Of that total marketing budget, 10% is a paid media budget. 11 | The Total Economic Impact™ Of Amperity Customer Data Management

ROAS lift of 5%

“Because we can target so much more effectively, we’re using a laser beam instead of a shotgun.” Managing director of guest loyalty, travel and hospitality

› The ROAS prior to using Amperity was $2.63. This metric increased 5% as a result of smarter retargeting suppression. › 50% of the improvement is attributed to Amperity. When calculating the increased ROAS from better targeting, readers should consider: › Expected spend on remarketing campaigns prior to the investment in Amperity. › ROAS using legacy customer identity solutions. To account for these risks, Forrester adjusted this benefit downward by 5%, yielding a three-year, risk-adjusted total PV of $16,794,515. Increased ROAS From Better Targeting: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

C1

Annual revenue

Composite

$10,000,000,000

$10,000,000,000

$10,000,000,000

C2

Marketing budget as a % of total revenue

Benchmark

10%

10%

10%

C3

Annual marketing budget

C1*C2

$1,000,000,000

$1,000,000,000

$1,000,000,000

C4

Paid media budget as a % of total marketing budget

Benchmark

10%

11%

12%

C5

Annual paid media budget

C3*C4

$100,000,000

$110,000,000

$120,000,000

C6

ROAS without Amperity

Benchmark

$2.63

$2.63

$2.63

C7

Improvement in ROAS attributed to better targeting

Interviews

5%

5%

5%

C8

ROAS with Amperity

C6*(1+C7) (rounded)

$2.76

$2.76

$2.76

C9

Total ROAS lift driven by Amperity

(C5C8)(C5C6)

$13,000,000

$14,300,000

$15,600,000

C10

Attribution factor

50%

50%

50%

Ct

Increased ROAS from better targeting

C9*C10

$6,500,000

$7,150,000

$7,800,000

Risk adjustment

↓5% $6,175,000

$6,792,500

$7,410,000

Ctr

Increased ROAS from better targeting (risk-adjusted)

Benefit 4: Additional Revenue From New Loyalty Program Members At its core, marketing is about knowing the customer. When armed with real-time access to complete and contextual information about individual customers, organizations can use that information to truly tailor messaging that’s relevant, timely, and generates the intended engagement. Before Amperity, attempts to drive customers to join loyalty programs fell short of achieving the desired levels of registration. For one organization, “Only 1% of the people who received the email actually signed up for [our loyalty program].” Since loyalty program members are expected to make a minimum additional number of purchases, this meant that the 12 | The Total Economic Impact™ Of Amperity Customer Data Management

interviewed organizations were missing revenue opportunities. After the investment in Amperity, the interviewed organizations had access to a complete view of their customer and used this information to customize their messaging to attract new loyalty program members based on recent purchasing behavior. A guest experience program manager told Forrester, “Amperity can identify customers that are purchasing who are not [loyalty program] members, so we’re able to target that group and personalize within the content of the email.” Unsurprisingly, these personalized campaigns were more successful than their generic predecessors. The guest experience program manager went on: “It was actually insane, I didn’t even believe the numbers. We saw the [loyalty program] registration rate increase by 190%.” To capture the benefits experienced by Amperity’s customers, Forrester makes the following assumptions for the composite organization: › Abtenauer’s loyalty program campaign constitutes 10% of its total email volume.

Customized, relevant messaging increased email open rates and loyalty program registrations.

› By having a complete customer profile and creating custom content to message to known recent customers, open rates with Amperity are 15% higher and drove a registration rate of 3%.

“It was actually insane; I didn’t even believe the numbers. We saw the [loyalty program] registration rate increase by 190%.”

› Once a customer registers for the loyalty program, they can be expected to make at least three more purchases from Abtenauer.

Guest experience program manager, travel and hospitality

› Prior to using Amperity, the open rate of campaign emails was 1.5% with a registration rate of 1%.

› The AOV for Abtenauer is $110. When using this composite organization to estimate the impact, consider the following: › The impact to customer lifetime value (CLTV) of a loyalty program member will vary by organization and industry. › AOV may vary greatly organization to organization. › Email campaign volume, open rates, and loyalty program registration before Amperity and after Amperity will depend on type and size of an organization, in addition to other factors. To account for these risks, Forrester adjusted this benefit downward by 10%, yielding a three-year, risk-adjusted total PV of $7,536,865.

13 | The Total Economic Impact™ Of Amperity Customer Data Management

Additional Revenue From New Loyalty Program Members: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

D1

Loyalty program campaign emails sent per year

10% of total emails (F1)

414,810,000

414,810,000

414,810,000

D2

Email open rate prior to Amperity

Interviews

1.5%

1.5%

1.5%

D3

Registration rate prior to Amperity

Interviews

1%

1%

1%

D4

New loyalty program registrations prior to Amperity

D1D2D3

62,222

62,222

62,222

D5

Open rate with Amperity

D2*(1+15%) (rounded)

1.73%

1.73%

1.73%

D6

Registration rate with Amperity

3%

3%

3%

D7

New loyalty program registrations with Amperity

D1D5D6

215,286

215,286

215,286

D8

Incremental new registrations

D7-D4

153,065

153,065

153,065

D9

Customer annual value

Composite

$110

$110

$110

D10

Loyalty program members annual value

3x a nonmember

$330

$330

$330

D11

Income margin

10%

10%

10%

Dt

Additional revenue from new loyalty program members

((D8D10)(D8D9))*D11

$3,367,428

$3,367,428

$3,367,428

Risk adjustment

↓10% $3,030,685

$3,030,685

$3,030,685

Dtr

Additional revenue from new loyalty program members (risk-adjusted)

Benefit 5: Email Campaign Savings Recognizing customers accurately within and across systems reduces waste by eliminating duplicate contacts. With a more precise view, messages can reach the intended parties. Before their investment in Amperity, both organizations had data for millions of customers, each assumed to be individual and unique. For each of the fragmented profiles, these organized incurred marketing expenditures. After unifying the profiles using Amperity’s technology, the interviewed organizations were able to deduplicate more than 50% of their records. As a result, fewer total messages were sent, and they went to the intended recipient more accurately and without excess. One interviewee described his experience, saying: “We’re able to really find the right people to talk to and deliver a relevant message. We are not just broadcasting to everyone.” For the composite organization, Forrester assumes that: › Before Amperity, Abtenauer maintained over 209 million records. › Abtenauer’s deduplication rate using Amperity is 55%, reducing records by 94 million. › Abtenauer sends three emails per month to its customer base, each of which costs $0.001. 14 | The Total Economic Impact™ Of Amperity Customer Data Management

Other deduplicationdriven benefits could include improved customer experience, enhanced personalization, targeting improvements, lower unsubscribe rates, higher engagement, and increased conversion rates.

This benefit will vary by company based on: › Number of customer records before Amperity and the deduplication rate as a result of Amperity’s technology. › Per email unit costs. › Number of emails sent per month per customer. To account for these risks, Forrester adjusted this benefit downward by 15%, yielding a three-year, risk-adjusted total PV $7,174,108. Email Campaign Savings: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

E1

Customer profiles prior to using Amperity

Composite

209,500,000

209,500,000

209,500,000

E2

Deduplication rate using Amperity

Interviews

55%

55%

55%

E3

Number of unique customer profiles after using Amperity

E1*E2

115,225,000

115,225,000

115,225,000

E4

Number of profiles deduplicated

E1-E3

94,275,000

94,275,000

94,275,000

E5

Number of emails sent on an annual basis to each customer

3 emails/month * 12 months

36

36

36

E6

Cost per email

Benchmark

$0.001

$0.001

$0.001

Et

Email campaign savings

E4E5E6

$3,393,900

$3,393,900

$3,393,900

Risk adjustment

↓15% $2,884,815

$2,884,815

$2,884,815

Etr

Email campaign savings (risk-adjusted)

Benefit 6: Increased RPE Due To Improved Personalization For the interviewed organizations, effective personalization reaches the right people at the right time with meaningful offers and messages. Rich, current, and actionable customer profiles facilitate laser-focused personalization, driving significant boosts in revenue. Before Amperity, the interviewed organizations struggled to unify and operationalize customer data in a complete and timely manner for personalized email campaigns. As a result, they missed critical windows in the customer journey when certain products or experiences would be especially relevant, resulting in lower RPE. After the investment, organizations were able to serve highly targeted and contextual communications at the precise moments when they were most relevant to individual customers. Emails included recommendations for new or add-on products, increasing engagement and boosting revenue per email by 15%. For the composite organization, Forrester assumes that: › Abtenauer customizes 50% of its emails. › RPE before Amperity was $0.25. › 50% of the RPE lift is attributed to Amperity data. › Abtenauer has a 10% margin. 15 | The Total Economic Impact™ Of Amperity Customer Data Management

RPE increase of 15% from personalized messaging.

This benefit will vary by company based on: › Volume of emails sent with customer-specific custom content. › RPE prior to Amperity. To account for these risks, Forrester adjusted this benefit downward by 15%, yielding a three-year, risk-adjusted total PV $8,768,354. Increased Revenue Per Email Due To Improved Personalization: Calculation Table REF.

METRIC

CALC.

YEAR 1

YEAR 2

YEAR 3

F1

Number of emails

E3*E5

4,148,100,000

4,148,100,000

4,148,100,000

F2

% of emails customized

Composite

50%

50%

50%

F3

Number of customized emails

F1*F2

2,074,050,000

2,074,050,000

2,074,050,000

F4

Revenue per email before Amperity

Composite

$0.25

$0.25

$0.25

F5

Increase in revenue per email

Interviews

15%

15%

15%

F6

Revenue per email with Amperity

F4*F5 (rounded)

$0.29

$0.29

$0.29

F7

Attribution factor

50%

50%

50%

F8

Marginal increase in revenue attributed to Amperity

((F3F6)(F3F4))*F7

$41,481,000

$41,481,000

$41,481,000

F9

Income margin

Benchmark

10%

10%

10%

Ft

Increased revenue per email due to improved personalization

F8*F9

$4,148,100

$4,148,100

$4,148,100

Risk adjustment

↓15% $3,525,885

$3,525,885

$3,525,885

Ftr

Increased revenue per email due to improved personalization (risk-adjusted)

Unquantified Benefits Beyond the benefits calculated above, the interviewed organizations experienced the following unqualified benefits: › Access to consistent customer views across the organization. Prior to investing in Amperity, customer data was accessible only by employees with particular skill sets. The managing director of guest loyalty reported, “Beforehand, you had a limited number of folks who had access to use that rich data in meaningful ways because they didn’t just have the skill set, it was too hard to do.” However, with the self-service nature of Amperity’s data, parties across the organization can access and use the data, which they described as a massive improvement. Customer data democratization allows for strategic new programs to improve the customer experience, drive better outcomes, and effect organization wide change.

16 | The Total Economic Impact™ Of Amperity Customer Data Management

Amperity empowers rich data use across organizations.

› Confidence levels. Amperity’s application of AI-powered data unification allows customers to look at their data with greater confidence. One user told Forrester: “I’m a big believer in having the ability to use probabilistic matching with customers, particularly in a retail space. That’s part of the reason we talked to Amperity. Their approach and perspective on the space is much more aligned with what I was looking for versus some of these others.” › Consolidation of research and survey tools. Prior to Amperity, one of the organizations used multiple survey tools in order to gather customer data — and a research team compiled the information. As a result of Amperity’s complete view of the customer, the research team was able to consolidate the survey vendors and tools. A guest experience program manager told Forrester: “Our research team was going through this process of trying to consolidate nine different survey tools into one single platform. But the problem is, they needed a single source of truth for the customer. They needed comprehensive data around who the guest is and what [they purchased]. And so, we were able to use the existing kind of customer database model that Amperity helped us create.” The quantified benefit for this organization would include the productivity lift for the market research team as well as avoided vendor fees. › Avoided outside consultant fees for acquisition integration support and avoided customer support expenses. This unquantified benefit is a case of hindsight being 20/20, and a valuable consideration. One of the interviewed organizations had recently gone through an acquisition, requiring an integration of the existing loyalty programs. As they had not yet engaged with Amperity, they hired an outside consultant to assist with the data combination. As described by the interviewee: “We engaged a consulting company to do the matching for us, and that took several months. When we finally went live, we sent emails to people who we thought didn’t have [loyalty program] accounts, it drove a lot of traffic to our call centers because the consulting company’s work wasn’t accurate. And so, it drove costs in our call center to fix the issue of the incorrect matches.” Had this organization used Amperity’s technology for the initial integration of the two disparate loyalty programs, they would have been able to avoid the fees of the outside consultant and avoided call center costs. The interviewee described how they used Amperity following the botched integration, “Amperity helped us solve that [integration] problem and they were able to do it a lot faster, within weeks as opposed to months and at no additional charge.”

“Now that we have one source of customer file for all of the surveys that we’re sending, the woman on the market research team calls it, ‘super-fast insights.’” Guest experience program manager, travel and hospitality

Amperity is a valuable partner during acquisition and integration of customer data.

Flexibility The value of flexibility is clearly unique to each customer, and the measure of its value varies from organization to organization. There are several scenarios in which a customer might choose to implement Amperity and later realize additional uses and business opportunities, including: › Direct mail savings. Organizations employing additional marketing techniques, such as direct mail marketing, may incur additional benefits driven by deduplicating customer records.

17 | The Total Economic Impact™ Of Amperity Customer Data Management

Flexibility, as defined by TEI, represents an investment in additional capacity or capability that could be turned into business benefit for a future additional investment. This provides an organization with the "right" or the ability to engage in future initiatives but not the obligation to do so.

› Greater audience and additional use cases. The interviewed organizations found that they were able to use their complete view of the customer beyond the intended use cases. For example, one interviewee remarked, “There are more people who are using the data than before [Amperity], and we’ve used the data in ways that we didn’t anticipate.” This suggests that as organizations break down silos in their data, additional business units will find ways to use the information, providing lifts in metrics like productivity, revenue, and cost savings. › Complement to existing martech. As Amperity continues to improve and build out its product, interviewees anticipate that Amperity will be a complementary component to their existing martech and downstream systems. As described by one interviewee: “Since Amperity is very much a startup, I think there’s an opportunity to fill. They’re still building out their product and I think there’s opportunity to build and solve, based off what already exists in the landscape right now.” Customers that use Amperity during this development will likely have opportunities to help shape the future road map of the Amperity product.

18 | The Total Economic Impact™ Of Amperity Customer Data Management

Analysis Of Costs QUANTIFIED COST DATA AS APPLIED TO THE COMPOSITE

Total Costs REF.

COST

INITIAL

YEAR 1

YEAR 2

YEAR 3

TOTAL

PRESENT VALUE

Gtr

Initial implementation

$1,901

$0

$0

$0

$1,901

$1,901

Htr

Ongoing labor costs

$0

$495,000

$495,000

$495,000

$1,485,000

$1,230,992

Itr

Annual licensing fee

$0

$1,100,000

$1,100,000

$1,100,000

$3,300,000

$2,735,537

Total costs (risk-adjusted)

$1,901

$1,595,000

$1,595,000

$1,595,000

$4,786,901

$3,968,430

Cost 1: Initial Implementation Amperity approaches implementation in three phases: › Phase 1 – discovery and set up. This includes a discovery meeting for every data source and a channel where customers provide access to the raw data source. Customer participation for this phase is approximately 6 to 10 hours.

The table above shows the total of all costs across the areas listed below, as well as present values (PVs) discounted at 10%. Over three years, the composite organization expects risk-adjusted total costs to have a PV of nearly $4.0 million.

› Phase 2 – ingestion and QA. During this step, Amperity will connect with the customer on a weekly basis, for a 30-minute progress call. Additionally, this step includes a monthly 2-hour stakeholder update as Amperity prepares for launch. Customer participation is typically between 10 and 20 hours. › Phase 3 – value assessment and launch. As companies enter Phase 3, the 30-minute weekly and 2-hour monthly progress calls continue and customers pilot results. Customer participation is approximately 4 to 6 hours. Customers were not overwhelmed by the implementation process and were open about overcoming small challenges during the process. For one senior VP of customer data and analytics: “The biggest roadblock in this whole process wasn’t necessarily the costs to getting stuff to Amperity. It was more an issue with our information security team to give their buy-in on letting our data leave us — not just extracts.” In order to mitigate this perceived risk, customers and Amperity provided education around the audited infrastructure and security processes.

Phases: 1) Discovery and set up 2) Ingestion and QA 3) Value assessment and launch

When calculating the cost of implementation for the composite organization, Forrester makes the following assumptions: › Abtenauer’s implementation is calculated on the high end of customer involvement.

Total time: 36 hours

› The implementation process is performed by a data engineer with a fully burdened salary of $100,000. When estimating the time and labor involved with implementing Amperity, consider:

Implementation risk is the risk that a proposed investment may deviate from the original or expected requirements, resulting in higher costs than anticipated. The greater the uncertainty, the wider the potential range of outcomes for cost estimates.

› How many individuals will be involved with ongoing meetings and what the value is of their time. To account for these risks, Forrester adjusted this cost upward by 10%, yielding a three-year, risk-adjusted total PV of $1,901. 19 | The Total Economic Impact™ Of Amperity Customer Data Management

Initial Implementation: Calculation Table REF.

METRIC

G1

Discovery and set up hours

10

G2

Implementation hours

20

G3

Assess value hours

6

G4

Total hours for implementation

G1+G2+G3

36

G5

IT hourly rate

$100,000/2,080 hours (rounded)

$48

Gt

Initial Implementation

G4*G5

Risk adjustment

↑10%

Gtr

Initial implementation (risk-adjusted)

CALC.

INITIAL

YEAR 1

YEAR 2

YEAR 3

$1,728

$0

$0

$0

$1,901

$0

$0

$0

Cost 2: Ongoing Labor Costs After implementation, interviewees used internal labor to support the efforts of Amperity. A guest experience program manager stated: “Amperity is supplementing the resources of our IT and eCommerce teams. We still need to make sure that there’s resources on our side to make the data available to Amperity and build the infrastructure to file the data through Amperity and to our [downstream] systems.” In order to capture the ongoing labor component for Abtenauer, Forrester assumes: › The ongoing labor of 1.5 FTEs in an IT or analytics role for project management. › The ongoing labor of three FTEs in a marketing, IT, or analytics role dedicated to customer profiles. › A blended fully burdened salary for the employees involved of $100,000. Ongoing labor costs will vary by organization. When estimating cost, consider: › Number of FTEs dedicated to customer data management and their respective salaries. To account for these risks, Forrester adjusted this cost upward by 10%, yielding a three-year, risk-adjusted total PV of $1,230,992.

20 | The Total Economic Impact™ Of Amperity Customer Data Management

4.5 FTEs required for ongoing customer data management.

Ongoing Labor Costs: Calculation Table REF.

METRIC

H1

YEAR 1

YEAR 2

YEAR 3

Number of FTEs (IT or analytics) tasked with project management

1.5

1.5

1.5

H2

IT or analytics fully burdened salary

$100,000

$100,000

$100,000

H3

Number of FTEs (marketing, analytics, IT) dedicated to customer profiles

3.0

3.0

3.0

H4

Marketing, analytics, IT fully burdened salary

$100,000

$100,000

$100,000

Ht

Ongoing labor costs

(H1H2)+ (H3H4)

$450,000

$450,000

$450,000

Risk adjustment

↑10% $495,000

$495,000

$495,000

Htr

CALC.

Ongoing labor costs (risk-adjusted)

INITIAL

$0

Cost 3: Annual Licensing Fee Amperity’s pricing model reflects its philosophy of helping customers achieve maximum value and impact from their customer data, which requires processing all of it through the Amperity platform. For this reason, they don’t charge by the amount of data ingested, which would encourage selective usage of data. Instead, they charge by the overall size and complexity of systems, customer base, and execution channels. Licensing fees fit each customer and are packaged in small, medium, and large bundles and can vary from $0.5M to $3M. To capture the cost to the organizations, the composite organization uses a medium license of $1M annually.

Licensing fees are based on complexity of system, rather than volume of data ingested.

Larger, more complex organizations might have a higher licensing fee. To account for this risk, Forrester adjusted this cost upward by 10%, yielding a three-year, risk-adjusted total PV of $2,735,537. Annual Licensing Fee: Calculation Table REF.

METRIC

I1

Medium bundle data package

It

Annual licensing fee

I1

Risk adjustment

↑10%

Itr

Annual licensing fee (risk-adjusted)

CALC.

INITIAL

$0

21 | The Total Economic Impact™ Of Amperity Customer Data Management

YEAR 1

YEAR 2

YEAR 3

$1,000,000

$1,000,000

$1,000,000

$1,000,000

$1,000,000

$1,000,000

$1,100,000

$1,100,000

$1,100,000

Financial Summary CONSOLIDATED THREE-YEAR RISK-ADJUSTED METRICS

Cash Flow Chart (Risk-Adjusted)

The financial results calculated in the Benefits and Costs sections can be used to determine the ROI, NPV, and payback period for the composite organization’s investment. Forrester assumes a yearly discount rate of 10% for this analysis.

Total costs Total benefits Cumulative net benefits Cash flows

$60.0 M $50.0 M $40.0 M $30.0 M

These risk-adjusted ROI, NPV, and payback period values are determined by applying risk-adjustment factors to the unadjusted results in each Benefit and Cost section.

$20.0 M $10.0 M

-$10.0 M

Initial

Year 1

Year 2

Year 3

Cash Flow Table (Risk-Adjusted)

INITIAL

YEAR 1

YEAR 2

YEAR 3

TOTAL

PRESENT VALUE

Total costs

($1,901)

($1,595,000)

($1,595,000)

($1,595,000)

($4,786,901)

($3,968,430)

Total benefits

$0

$17,003,825

$17,465,535

$17,927,245

$52,396,604

$43,361,353

Net benefits

($1,901)

$15,408,825

$15,870,535

$16,332,245

$47,609,704

$39,392,923

ROI

993%

Payback period

<1 data-preserve-html-node="true" year

22 | The Total Economic Impact™ Of Amperity Customer Data Management

Amperity Customer Data Management: Overview The following information is provided by Amperity. Forrester has not validated any claims and does not endorse Amperity or its offerings.

Amperity Overview: Amperity is revolutionizing the way companies identify, understand, and ultimately engage their customers. Amperity’s unique technology applies AI at scale to help companies achieve a truly unified view of the customer, for the first time. Here’s how Amperity works:

To learn more visit: https://amperity.com

23 | The Total Economic Impact™ Of Amperity Customer Data Management

Appendix A: Total Economic Impact Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.

Total Economic Impact Approach Benefits represent the value delivered to the business by the product. The TEI methodology places equal weight on the measure of benefits and the measure of costs, allowing for a full examination of the effect of the technology on the entire organization.

Costs consider all expenses necessary to deliver the proposed value, or benefits, of the product. The cost category within TEI captures incremental costs over the existing environment for ongoing costs associated with the solution.

Flexibility represents the strategic value that can be obtained for some future additional investment building on top of the initial investment already made. Having the ability to capture that benefit has a PV that can be estimated.

Risks measure the uncertainty of benefit and cost estimates given: 1) the likelihood that estimates will meet original projections and 2) the likelihood that estimates will be tracked over time. TEI risk factors are based on “triangular distribution.”

The initial investment column contains costs incurred at “time 0” or at the beginning of Year 1 that are not discounted. All other cash flows are discounted using the discount rate at the end of the year. PV calculations are calculated for each total cost and benefit estimate. NPV calculations in the summary tables are the sum of the initial investment and the discounted cash flows in each year. Sums and present value calculations of the Total Benefits, Total Costs, and Cash Flow tables may not exactly add up, as some rounding may occur.

24 | The Total Economic Impact™ Of Amperity Customer Data Management

Present value (PV) The present or current value of (discounted) cost and benefit estimates given at an interest rate (the discount rate). The PV of costs and benefits feed into the total NPV of cash flows.

Net present value (NPV) The present or current value of (discounted) future net cash flows given an interest rate (the discount rate). A positive project NPV normally indicates that the investment should be made, unless other projects have higher NPVs. Return on investment (ROI) A project’s expected return in percentage terms. ROI is calculated by dividing net benefits (benefits less costs) by costs. Discount rate The interest rate used in cash flow analysis to take into account the time value of money. Organizations typically use discount rates between 8% and 16%. Payback period The breakeven point for an investment. This is the point in time at which net benefits (benefits minus costs) equal initial investment or cost.

Appendix B: Supplemental Material Related Forrester Research “For B2C Marketers, Customer Data Platforms Overpromise And Underdeliver,” Forrester Research, Inc., October 26, 2018. Joe Stanhope, “The CDP Paradox: A Chaotic Category Aspires To Address A Chaotic Challenge,” Forrester Blogs, March 8, 2018 (https://go.forrester.com/blogs/thecdpparadox/).

25 | The Total Economic Impact™ Of Amperity Customer Data Management

Appendix C: Endnotes Source: “For B2C Marketers, Customer Data Platforms Overpromise And Underdeliver,” Forrester Research, Inc., October 26, 2018.

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26 | The Total Economic Impact™ Of Amperity Customer Data Management