FEB 24, 2014 3:24pm ET

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Gartner: Master Data Management Must be Part of CRM


Master data management is a critical success factor in creating optimal customer relationship management processes, according to research firm Gartner Inc. The firm says CRM users who avoid MDM will derive erroneous results that annoy customers, resulting in a 25 percent reduction in potential revenue gains.

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Comments (2)
Thanks for the article. While I agree with it all, we also need to acknowledge the various ontologies at play for a customer. the 360 view is dependant on relevance. A company's accounts department won't really care about the marketing campaigns a customer replied to. That does mean that the ontologies will be federated, and each MDM custodian will need to play it's part.

Instead of managing the customer as a whole, "break it into pieces" and let each relevant contact point manage that area... e.g. Customer services manage the contact details, sales manage the product info, accounts manage the debtors and banking details, etc...

In doing this, the sum of the pieces become greater than the whole, ensuring the "Single version of the truth" becomes an enterprise asset.

Posted by Zanoni L | Monday, March 03 2014 at 3:02AM ET
Managing customer as a whole requires semantic relationships between the various groups that work with customers in their own domains. The classic case is a banks marketing department refraining from sending solicitations for a home equity line of credit for a customer that has recently closed a line of credit with the bank's sales team. A customer that recently provided negative feedback might also not be a good candidate for a marketing solicitation. These facts, and others can be captured with semantic triples such as "CustomerA hasA homeEquityLineOfCredit" or "CustomerA hasNegativeFeedbackReport Report#XXX"
Posted by Michael M | Monday, March 03 2014 at 11:17AM ET
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