Improve customer relationships with Master Data Management

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Master Data Management (MDM) is a critical success factor for building optimal customer relationship management processes. Discover the benefits.
Master Data Management (MDM) is a critical success factor for building optimal customer relationship management processes . Companies that do not complement their CRM systems with MDM are likely to achieve erroneous results that will ultimately deteriorate customer relationships, which can mean a reduction in potential revenue by up to 25 percent.

CRM leaders must understand the benefits that MDM brings to improving customer relationships and must make MDM a part of their CRM strategy. MDM is critical to enabling these CRM leaders to create the 360-degree view of the customer required for an optimized customer experience.

Organizations are moving toward a more integrated CRM colombia number dataset that focuses on customer experience with improved interaction, across marketing, sales, customer service, e-commerce, and all other customer-facing channels . This approach requires an understanding of all customer relationships and interactions with the company.

This single or 360-degree view of the customer requires that all operational master data belonging to the customer be combined from all data silos where it currently resides . This data is then checked and cleaned for duplicates while selecting the highest quality values ​​across all data sources for each master data attribute. The result is a single version of the truth for the master data.







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Big Data and MDM to improve customer relations
MDM also offers CRM leaders the advantage to effectively use big data sources like social media . Organizations have routinely used business intelligence providers for things like segmentation, customer acquisition, and prospecting. However, in the past, this use most often occurred within a silo with a single system or business function, like marketing or sales, with no opportunity for coordinated reuse across the rest of the organization. Now companies are using social data to try to understand customer behavior and sentiment . And they do this in the aggregate, for areas like customer segmentation or problem resolution, or at an individual level to personalize campaigns and offers.


As interest in corporate use of big data increases, problems with poor quality master data are being raised. Without MDM, attempting to identify a customer results in the same inaccuracy issues as those used by information providers, with fragmented master data .



MDM: How to create a single view of the customer, improve the customer experience thanks to the management of your master data


Key features of an MDM providing 360° vision
Uncover hidden value in your data . By linking data, non-obvious relationships can be deduced from internal and external big data sources to obtain a complete 360-degree view. This provides a holistic view by connecting the dots that allows you to predict future customer needs.
Visual exploration of data relationships . An MDM that can visually represent data relationships can reveal opportunities to improve outcomes at all stages of a customer’s life. It offers intuitive ways to interact with customer, supplier, product, and other internal and external data. You gain the ability to look at a customer’s profile and see underlying associations that can predict the next best action.