Our data warehouse allows us to know everything about our clients
Posted: Tue Jan 21, 2025 10:12 am
Discover the relationship between the potential of the data warehouse and MDM support and how together they can increase the effectiveness of a customer intelligence strategy.
Do you know your customers' names? Probably yes. And their age? Probably too. For many companies, this is where their knowledge of the consumer ends. They cannot really say that they know their rich people database because, apart from basic identification and address data, they may not be able to answer any questions about what they spend their money on, where they would never spend it or how they approach their purchases, whether at random or after a meticulous research process. But how can they know if they only rely on the data warehouse ? Where is the MDM ?
You may be interested in reading:
Data warehouse concepts: your data warehouse glossary
The potential of data warehouse and MDM support
It is true that a significant investment may have been made in the data warehouse , but it is of no use if the data is stored there, just as it could have been left at its source of origin. Customer insight is not achieved when:
The data warehouse is treated as a simple warehouse.
The data warehouse is the single source of actionable information for the business.
Making good decisions requires knowing what is happening in the real world, knowledge that is acquired through solid data, through analysis of customer behavior and never based on the instinct of the person responsible for taking action. Master Data Management ( MDM ) is crucial to achieving this.
Today, it is possible to achieve this level of consumer understanding because the necessary tools exist to:
View customer interactions with customer service.
Review accounts payable.
Study the entire sales cycle.
Evaluate the effectiveness of marketing strategies.
And, best of all, all of this can be achieved in near real time. In this way, the 360ยบ vision is taken a step further, reaching customer intelligence that optimizes the scope of the traditional CRM concept by providing the creation of a single point of view of each consumer through the integration of systems and the consolidation of data from analysis , two milestones that are impossible to achieve without adequate master data management ( MDM ).
Do you know your customers' names? Probably yes. And their age? Probably too. For many companies, this is where their knowledge of the consumer ends. They cannot really say that they know their rich people database because, apart from basic identification and address data, they may not be able to answer any questions about what they spend their money on, where they would never spend it or how they approach their purchases, whether at random or after a meticulous research process. But how can they know if they only rely on the data warehouse ? Where is the MDM ?
You may be interested in reading:
Data warehouse concepts: your data warehouse glossary
The potential of data warehouse and MDM support
It is true that a significant investment may have been made in the data warehouse , but it is of no use if the data is stored there, just as it could have been left at its source of origin. Customer insight is not achieved when:
The data warehouse is treated as a simple warehouse.
The data warehouse is the single source of actionable information for the business.
Making good decisions requires knowing what is happening in the real world, knowledge that is acquired through solid data, through analysis of customer behavior and never based on the instinct of the person responsible for taking action. Master Data Management ( MDM ) is crucial to achieving this.
Today, it is possible to achieve this level of consumer understanding because the necessary tools exist to:
View customer interactions with customer service.
Review accounts payable.
Study the entire sales cycle.
Evaluate the effectiveness of marketing strategies.
And, best of all, all of this can be achieved in near real time. In this way, the 360ยบ vision is taken a step further, reaching customer intelligence that optimizes the scope of the traditional CRM concept by providing the creation of a single point of view of each consumer through the integration of systems and the consolidation of data from analysis , two milestones that are impossible to achieve without adequate master data management ( MDM ).