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What is customer MDM?

Customer Master Data Management (CMDM) is a process and technology used by organizations to ensure that customer data is accurate, consistent, and up-to-date across all systems and applications.

CMDM aims to provide a single source of truth for customer information by creating a centralized repository of customer data and managing the quality, governance, and integration of this data across the enterprise.

Customer Master Data Management helps organizations to improve customer experience, reduce data duplication and errors, enhance data security and privacy, and support informed business decisions by providing a comprehensive view of customer information.

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Customer Master Data Management is strategic

Putting a price on data is a tough task to perform if your business is not “in the business” of selling data. The real question though, is does your organization recognize its arguably most valuable data asset – customer master data, as a valuable resource? The true value of that data more than likely hides in how you use it.

Customer data holds enormous economic potential if managed well and appropriately leveraged. The challenge though is that many companies struggle with proper handling and syndication of their data. Further, they don’t think about their customer data strategically. They don’t take what they have and convert the data that is in hand, into actionable information. Worse, they may not be managing their customer data in any meaningful way, they may have data all over the place in systems, spreadsheets and even email.

By implementing some data management best practices around customer data, these same businesses could be thinking more strategically especially if they are ensuring that their data is accurate and aligned with their business objectives.

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Is your data of good enough quality for Customer MDM?

Customer data management (CDM) is one of the most important aspects of customer experience management. It helps companies get to know their customers, understand their preferences and needs, and deliver personalized services and experiences that keep customers happy and loyal. A key element of CDM is data quality.

Data quality refers to how accurately your company’s information about its customers reflects reality. If you don’t have good-quality customer data, your efforts will be wasted on inaccurate information about those customers—including ones who can’t be found when they need help with a problem or question!

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Is it time to get phygital?

Is it time to get phygital?
The rise of the phygital customer

The customer journey is now a hybrid one. The experience for the customer is now hybrid too. The way customers interact with brands and products has changed, but to what extent? For many companies, there simply isn’t enough bandwidth to figure out whether they should invest in a wholly physical or digital strategy. Perhaps it isn’t necessarily a choice between these, but more of a phygital strategy that is required.

So here’s the question: when it comes to building your brand and creating experiences for your customers, do you need to be thinking about how you can create an experience that combines the best of both worlds (the physical and the digital)?

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The Customer Master and Data Governance

Customer master data management (CMDM) and customer data governance are co-dependent disciplines. Successful CMDM is not possible with at least a few key data governance elements.

While the CMDM may be understood as principally the technology, the actual data governance is the people, processes and technology.

With Pretectum’s CMDM we feel that the three are inextricably linked and so do not see it as being possible to pick up a solution like CMDM without data governance.

The reverse may be true. You may have data governance without master data management but then the effectiveness of your data governance policies and procedures have to be called into question.

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An automotive case study in meeting customer needs

Japan’s third-largest car manufacturer is Nissan and they are currently improving their operation practices as they aim for better sales output and of course brand awareness.

Nissan is considered an example of one a European car brand that is notable and successful. Founded in 1933 by Engineer Kenjiro Den, Nissan initially produced just motorcycle engines before branching out into automobile production in 1934.

For more than 80 years Nissan has built cars in Japan and in developing markets around Europe (and beyond) selling more than 4M units annually under the Nissan brand – including well-known models like the Nissan Leaf and Nissan X-Trail SUVs.

Nissan is also the owner of the premium Infiniti brand and the heritage brand Datsun which it discontinued on April 22. In addition to cars and trucks, it has in-house performance tuning products and cars labelled Nismo

It is a tough job, focusing on the environment, vehicle and product quality and customer loyalty. The approach has to be multi-pronged and is driven by data.

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KLA Announces Plans to Build a New R&D and Manufacturing Facility in Newport, Wales

KLA Corporation (NASDAQ: KLAC) has announced plans to build a new research-and-development (R&D) and manufacturing center for the SPTS division, in Newport, Wales, UK. The new development designed to meet BREEAM standard of sustainability rating of excellent is expected to include a capital investment of more than $100 million and create a 200,000 square foot facility.…

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