Customer Master Data Management

The Importance of Customer Master Data Management

With customer MDM (CMDM), analyse and easily understand your customer during a modern digital age.

With the ability to track customer interactions history, improve the revenue of targeted marketing campaigns and establish meaningful relationships with customers, customer data management is an integral cog in your data management system. But first, it’s important to address what customer master data management is, and how Comma Group can help to amplify positive change to your current CRM system.

What is customer master data management?

Customer master data management is a solution used to manage and create central records of master data – while seamlessly avoiding duplications and data crossover. By analysing customer data in a tight-knit data platform, this type of data management product delivers a single customer view – linking heterogenous data sources together and synchronising customer information.

Effective customer MDM can help you to:

Track history of customer interactions
Avoid duplication in data processing
Lower marketing costs
Increase sales
Gain customer insights while delivering more value
Connect with your customers and build meaningful relationships

So why should business leaders employ customer MDM into their current customer relationship management (CRM) strategy? MDM harmoniously pairs with CRM – providing a solid foundation for customer experience management and for interacting with diverse customers via multiple channels.

MDM and Customer Relationship Management (CRM)

Customers expect businesses to present content and products that are relevant and useful for them. Just as a sound MDM solution works to harmonise your data flows across an organisation, customer relationship management is most effective when an organisation’s data is consistent and reliable. However, a key thing to remember is CRM is not master data management.

Here begs the question, “Why should we need customer MDM when we already have a solid CRM strategy?” A common question that’s often raised by business leaders or IT specialists from an organisation – but in reply, we can simply state that CRM doesn’t do everything you would want or expect it to – and you can only receive maximum value from it by adding customer MDM.

Depending on the size of the company and the desired outcomes of your master data, CMDM can dramatically amplify the value of your existing CRM system – as well as facilitating a much more valuable customer experience in the process.

Equip your CRM team with the sales and interaction data they need to optimise customer experiences for online and offline channels with Master Data Management. Without MDM in your CRM strategy, you risk annoying customers, producing irrelevant content and misaligning your products and services for your audience.

Contact us to discuss Customer MDM

Everyone benefits from good quality data: your supply chain, staff and customers.

Comma Group is a leading consultancy focused on bringing together customer information, product information management and master data management. Talk to our team to discuss whether your customer data is fully compliant with EU and worldwide regulations, or if you need any further information on our customer MDM solutions.