What is customer master data management?
Almost every organization depends on customer data to provide goods or services. For organizations to have the best possible relationship with those customers it needs to have the best possible customer data.
Having good customer data means that an organization can derive meaningful customer intelligence and engage in seamless and friction-free engagement.
Customer data can be found in an increasing number of data sources and knowing that the data in those sources are correct and proper is critical to business success.
Data about customers needs to be comprehensive, reliable and timely those are the traits that your customer master data management practice strives to achieve.
Organizations with customer data that have these characteristics can focus on high-value customer segments.
They can conduct accurately targeted marketing and sales programs, plan more effective promotions and meet the rigours of privacy, compliance, and reporting requirements.
Whether your business uses a CRM, ERP, CDP or simply a marketing platform or custom database and applications, there is a benefit in looking at the end-to-end processes and work practices associated with the management of the customer master.
Maintaining correct, complete and comprehensive customer data is customer master data management practice and means the potential of knowing all you possibly can about them, their preferences and their history with your business, this gets your service and support employees and outbound sales and marketing functions firing on all cylinders from day one right through to the here and now.
A platform that is focused exclusively on customer master data management practices can support your business in the pursuit of the intention of your customer master data management practice and your data governance goals as a whole.
At Pretectum we feel we’ve mastered a reasonably coherent and flexible platform for your organization to take a journey in Customer Master Data curation.
We want you to harvest the benefits for your organization from the moment you define what a customer is through to transacting and nurturing your relationship with them.