Putting aside sloppy and incomplete data entry (and yes, I know that’s not a minor detail), why do large companies still have such a high tolerance for mediocre data quality, redundancy and inaccuracy? Or in MDM parlance, why don’t companies move quickly to adopt master data management and create a single-version of truth for customer, product and location - particularly when confronted by inferior data that compromises analytics, bottlenecks productivity and underminines good, customer service?
As in the example to the right, these different enterprise permutations of Ron Smith indicate that the same customer is probably persisting in systems 1, 2 and 4. By using consolidation style MDM, these records can be automatically merged, cleansed and matched in order to determine a single gold copy or accurate representation of the Ron Smith customer record. In other words, a single and standardized view of all customer attributes.
(That said, R.M Smythe in system 3 is decidedly in a grey area. Therefore, MDM will trigger a manual workflow process to determine whether system 3’s representation should be merged or approved as a new customer or gold record).
As described above, this data quality process is common to multi-system, enterprise customer MDM. But the process is often deployed as a silioed approach (system by system, database by database), throughout an organizations where MDM is not implemented. Why?
As it happens, companies are quite accepting of disparate data management standards (and the pain they generate), when silioed applications are doing their job well. This results in competing single-versions-of-truth So, what’s the standard, or whose single-view and definition of persona is correct? Is it marketing’s perception of the customer, or sales’ point-of-view? What about billing and logistics? Without MDM, or an enterprise data standard (typically expressed through coordinated data modeling, and synchronized federation), these systems will invariably shape Ron Smith’s customer persona to their own unique business requirements.
One solution is a process-driven approach to Customer 360. Here a holistic, business approach to synchronizing and managing customer master data helps provide the essential up-to-date and accurate view of the complete, real-world customer persona.
A comprehensive MDM platform provides the necessary integrated governance technologies and implementation styles to ensure the good and consistent data quality necessary for successful customer-360 initiatives, including on-boarding.
Please take the opportunity to join me, and Software AG’s Harvey Melfi for our upcoming live MDM demo as part of webMethods Wednesday.
The session (LIVE DEMO: Improve Data Quality and Processes through MDM and Data Integration), will illustrate the effectiveness of customer data management for not only improving customer data quality, but also improving associated business processes. Additionally, we’ll discuss how to integrate and propagate a single-view of customer across the digital enterprise.
Please click here, or the link above for times and registration.