Organizations need to have a deep understanding of their customers and their evolving expectations. To create consistency in how customers are viewed and treated no matter where they interact or transact, the organization must have a single, actionable, 360-degree view based on a trusted customer profile.
Ideally, the organization would create this customer profile during acquisition and onboarding and regularly enrich and synchronize across the enterprise. Unfortunately, that trusted customer profile is difficult to create and maintain, due to customer data that is incomplete, inconsistent, duplicated and scattered across multiple siloed systems.
While the business improvement opportunities of master data management are significant, they are not always obvious. This means that chief data officers, enterprise architects and other data leaders must communicate the value of those opportunities in language that business stakeholders use and understand.
This paper details five value opportunities of mastering customer data based on business value assessments (BVAs) we have done with clients.
