Improved customer experience (CX) is a key driver for digitalization and having optimal Master Data Management (MDM) is a core prerequisite for being successful in providing customer experience.
First, MDM underpins your insights into:
- Customer identity
- Customer hierarchies
- Customer locations
- Customer transactions
- Customer footprint on websites
- Customer footprint in social media
- Customer preferences
- Customer privacy and data protection settings and rights
Next, MDM gives you the insight into how to provide a tailored product experience by managing the data supply chain from your suppliers/vendors to each of the customer touch points by:
- Having your suppliers/vendors syndicating all the product-, service- and other information that is required by your customers
- Transforming these data into the data structure that fits your customers
- Consolidating all sources relevant for your customers
- Enriching with your internal competitive information that delight and engage your customers
- Customizing to each channel where you have a touch point with your customers
- Personalizing utilizing rich and structured customer insight
Learn more in an on-demand webinar hosted by Reltio – you can access the recording here,
Customer Experience (CX) is a trendy driver for Master Data Management (MDM) and Product Information Management (PIM).
When talking about CX we may have to distinguish between 3 main kind of user types:
- Consumers (in households)
- Small Office, Home Office (SOHO) users
- Corporate users
The critical differences between pleasing consumers in B2C and pleasing business users in B2B was discussed in the post B2C vs B2B in Product Information Management. A crucial distinction is the use of data as told in the post Where to Buy a Magic Wand?
Business users can be divided into those in small self-owned business’s as craftsmen, farmers, small shop owners, freelance consultants and many more and then corporate users who buys on behalf of a legal entity typically within a team of users.
There are intersections of customer experience preference patterns between these groups and then we are all humans regardless of our role in time. Earlier this year I presented a webinar, hosted by Riversand, on this topic. Find the link and the introduction in the post The relation between CX and MDM.
The title of this blog post is also the title of a webinar I will be presenting on the 28th February 2019. The webinar is hosted by the visionary Multidomain MDM and PIM solution provider Riversand.
Customer experience (CX) and Master Data Management (MDM) must go hand in hand. Both themes involve multiple business units and digital environments within your enterprise and in the wider business ecosystem, where your enterprise operates. Master data is the glue that brings the data you hold about your customers together as well as the glue that combines the data you share about your product offering together.
To be successful within customer experience in the digital era you need classic master data outcomes as a 360-degree view of customers as well as complete and consistent product information. In other words, you need to maintain Golden Records in Multidomain MDM.
You also need to combine your customer data and your product data to get to the right level of personalization. Knowing about your customer, what he/she wants, and their buying behaviour is one side personalization. The other side is being able to match these data with relevant products that is described to a level that can provide reasonable logic against the behavioural data.
Furthermore, you need to be able to make sense of internal and external big data sources and relate those to your prospective and existing customers and the products they have an interest in. This quest stretches the boundaries of traditional MDM towards being a more generic data platform.
You can register to join and replay the webinar here.