Blog: Master Data Management – The Trusted Customer View
About a year ago I bought a new prestige car from one of the main brands you would all recognise. It was an exemplary experience with information communicated as my factory order made its way from German production line to Oxfordshire dealership.
On St. George's Day Amadeus has a bank holiday. This year I took the opportunity to call at the same dealership for some routine maintenance. The salesman recognised me, recalling my purchase from memory, I was impressed and felt valued. We exchanged pleasantries, before I turned to the service desk… who had absolutely no record of either me or the car. My trust in their business changed in an instant. It is a situation many of us recognise: We speak to a person in one department and find ourselves repeating all the particulars when you speak to a new department, or even just a different person in the same department.
Building Loyalty from Relationships
Joining up all recorded data across an organisation and its channels about customers, suppliers or products provides the Single Customer View. A definitive source of information about every customer, from history and recency of purchases, activity, contact history, loyalty to satisfaction and so on. Albeit your subject may be a prospect, product, supplier or other object rather than a customer; an implementation of Master Data Management is vital to achieving a Single Customer View. When marketing, financial planning or producing analytics with incomplete and inconsistent data, your business risks damage to its reputation and wasted effort spent by your employees at the very least. At worst, your company could be failing to meet standards required for regulatory compliance. Recognising and evaluating lost opportunities and reduced retention is difficult to precisely quantify and recognise. The Adoption of Master Data Management is therefore full of potential in your organisation.
Big Data. Again.
Data that informs a single customer view is constantly evolving. When technologist and marketers speak of Big Data, the reaction is increasingly muted. Technology exists to store and process colossal volumes of data; however there is a lack of application with the information held within in your big data stores. As I write The Internet of Things is changing the type, frequency and volume of data quite unlike anything we have seen for some years. The Internet of Things is an application of Big Data. A customer can use a smartphone app to set the temperature of their home, prepare an oven for cooking dinner, or remotely warm the interior of their car (mine doesn’t do this by the way). These are potential sources of data which can be collected, stored and used to personalise a product renewal or proposition with unprecedented speed and accuracy.
Building on Solid Foundations
Achieving a single customer view requires planning, co-operation across the organisation, capable software, leadership and resource. The reason most commonly attributed with an organisations failure to achieve a single customer view is: Lack of resource. Adding the capacity to build these data marts over business as usual is one of the many recognised benefits when working with Amadeus Certified Consultants. Utilising SAS Data Management solutions as we do, by those of us who have programmed with SAS for several years is a brilliantly powerful combination. By achieving repeatability, flexibility and quality from which you can begin producing analytics across you organisation from the same robust set of data. For example selecting a simple random sample of customers, without bias, for a marketing trial is as simple as follows (copy and paste this into your SAS session to try it out):
proc surveyselect data=sashelp.demographics seed=0 method=srs out=demography_contacts sampsize=50 ;
A selection of 50 records are returned here. Imagine selecting thousands from trillions of rows in your Hadoop cluster? It’s the same program.
Trust is Earned
Adopting Master Data Management provides the trusted view of your customers. Build it once and ensure your organisation works together to reuse it. It doesn’t matter to which department your customer talks, present a single customer view and earn your customers trust.
Amadeus Software can support your team to deliver integrated solutions from a single customer view, through campaign management to analytical and statistical interpretation of marketing effects. Contact us here for more information on Realising Customer Intelligence.