Customer Fundamentals – time to take a big step

Master Data Management may be positioned as a “silver bullet” for the woes of poor customer master data but it doesn’t solve for long-standing systemic organizational deficiencies.

Any organization embarking on any kind of Master Data Management (MDM) initiative will need to look long and hard at a number of characteristics of how data is created, described and managed that are independent of the MDM itself if they wish to get the best value from their MDM.

That highly desirable 360º view of the customer, for example, what is it exactly?

Benefits as described by vendors and industry experts are numerous, but perhaps a small handful is the most important and most achievable.

• Reducing the costs and risks of customer data ownership
• Reducing friction in transacting or engaging with the customer
• Improved customer segmentation and targeting lists

All three of these outcomes are however heavily contingent on a number of important behaviours and organizational culture shifts.

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