The MDM Journey: From the Customer Perspective
- by Mala Narasimharajan
Master Data Management is more than just about a single version of the truth or providing a 360 degree view of the customer. It spans multiple domains ranging from customers to suppliers to products and beyond. MDM is pivotal to providing a solid customer experience - one that results in repeat business, continued loyalty and last but not least - high customer satisfaction. Customer experience is not only defined as accurate information about the customer for the enterprise, but also presenting the customer with the right information about products, orders, product availability, etc. Let's take a look at a couple of customer use cases with Oracle MDM.
Below is a picture from a recent customer panel:
Oracle MDM is a key platform for increasing upsell/cross-sell opportunities, improve targeting of customers and uncover new sales opportunies, reduce inaccuracies in mailing marketing materials to prospects, as well as to tap into and uncover the full value of a customer across business units more accurately. A leading investment and private bank leverages Oracle MDM to do a better job of identifying clients, their levels of investment as well as consistently manage them through a series of areas such as credit, risk, new accounts, etc. Ultimately, they are looking to understand client investments and touchpoints across the company's offerings. Another use case for Oracle MDM is with a major financial and insurance services company with clients worldwide, looking to resolve customer data inaccuracies and client information stored differently across mulitiple systems.
For more information on Oracle Master Data Management, click here.
