To supply products and services, almost every company relies on customer data. With strong customer data, everyone can get relevant customer information and participate in seamless engagement with them no matter what offering is at the table. But customer data management isn't exactly a walk in the park. Besides that, consumer data must be complete, dependable, and timely—all are characteristics that a good customer master data management practice should bear.
What Is Customer Master Data Management?
Customer master data management (CMDM) is the integration of people, processes, and technology to ensure a systematic approach to the definition, generation, maintenance, and dissemination of customer data. Master data management as a discipline is an aspect of data governance, which is a part of corporate information management.
Pretectum
Managing accurate, complete, and comprehensive customer data is a customer master data management practice you wouldn't want to miss if you're trying to establish a connection with your customers. And it refers to knowing everything you possibly can about them, their preferences, and their history with your company. To carry this through, you will need data management software to accompany you on your journey.
Pretectum is a platform solely focused on customer master data management practices. It can assist your business in pursuing the objective of your customer master data management practice and your overall data governance objectives.
What Is Included in Customer Master Data?
Whether your company employs an ERP, CDP, CRM, marketing platform, bespoke database, or apps, focusing on the customer master data with Pretectum is more helpful. This platform contends it has mastered the road to perfect data curation for customers.
This comprises defining customers, transacting with them, and developing a connection with them. If your consumer makes a choice, every option in Pretectum's customer data manager offers you more information. This will improve your understanding of them, build customer familiarity, develop customer insight, and help you determine your consumers' preferences.
Pretectum's Key Features
Although MDM was previously the sole realm of specialized data groups and IT, this is no longer the case as business executives see the need to decouple the practice's focus from technologies. Technically, customer master data management is not a technological solution.
Rather, it's a business process, and companies like Pretectum have labeled or positioned themselves as providers of a SaaS delivery of Customer Master Data Management.
With essential customer information, the mechanisms companies seek to free customers from the information age and thrive in the imagination age can ultimately materialize. That is why Pretectum's personalization of interactions and engagement experiences is at the top of the list.
Consumer data enables a richer, more customized experience to become a reality. Systems that can characterize a person will have an edge. More specifically, systems like Pretectum that employ zero-party data, i.e., data that consumers have freely and consensually provided, will be the most beneficial.
Pretectum CMDM also streamlines data from transactional masters that are all combined to provide a single customer view of the customer master. In case you're new to it, both transactional and master data help you identify your customer's purchasing behavior in great detail.
Within the platform, you can also have derivatives of current data and permission-based access for improved data security. Meanwhile, forms are supplied for self-service data curation, as well as mass replacement and append.
Moreover, Pretectum CMDM manages client master data in an easy, clear, and straightforward manner. In return, it keeps the change history in the background while you alter preferences via APIs in your mobile apps, websites, and in-store or POS solutions. All of these promote consumer privacy and indicate strong customer master data stewardship.
Internally, this drives your employees to establish more profound and meaningful relationships with clients and your brand.
Pretectum's Advantages
- SaaS-based
- Pricing depends on usage
- Deployment through self-service
- Everything is hyper-connected
- Data quality is incorporated into the customer definition
- Customer data modeling that is adaptable
- With four distinct methods for implementation and application
Besides that, when one thinks about data governance, it is often characterized as a set of procedures, personnel assignments (roles), rules, standards, tools, and other compliances representing data management processes.
In the context of Pretectum's CMDM, this is usually centered on internal standards and data collection and handling policies that can clearly outline how data is obtained, kept, processed, and disposed of.
Speaking of obtaining customer data, Pretectum CMDM can additionally assist you with a variety of tasks. This assistance starts from the unification of your many sources to the creation of a golden nominal that delivers a digital twin representative of each customer.
Then, it goes all the way to active data governance support in establishing and managing the customer record. Finally, this not only improves your customer relationship but also promotes CLV or customer lifetime value.
Why Is the Customer Master Data So Important?
Personalizing the customer experience can be challenging when your data is spread across several separate systems and departments that do not integrate in real time. The purpose of CMDM is to provide a single, comprehensive view of consumers based on their purchasing habits, choices, and interests. This allows businesses to forecast and pitch items or services that are most likely to meet the wants of their customers.
With Pretectum, you would find yourself in a vantage point and stand tall with a 360-degree perspective of your clients, applying KYC in the most efficient way possible and driving new business prospects.
Most notably, Pretectum CMDM increases client base loyalty by curating zero-party and first-party data relating to consumers. The platform is industry agnostic and allows for deep integration with numerous applications that your company can use to provide more tailored client contact.
Embarking on an Enterprise 4.0 journey with customers, as part of the cyber-physical revolution, requires solutions for client master data management from 4.0 enabled organizations that can operate in this new context.
And Pretectum can help you reinvent how you interact with consumers through your services by integrating data from different systems of record and providing digital convergence of customer data across industries, businesses, and other activities.
Plus, the Pretectum platform for Customer Master Data Management (CMDM) is available with no obligation time-limited free trial evaluation. Sign up here to get started.
