Organizations considering master data management (MDM) to support customer centricity often focus on how MDM can help them attract and retain customers and drive revenue through a complete customer view. They also assess the productivity gains of sparing sales and service teams from hunting for customer data in disparate applications.
It’s important to consider another effect that MDM can have on your organization—enabling compliance with current and future consumer privacy regulations.
The Do Not Track Online Bill, introduced in the U.S. Congress in 2011, signals a potential tightening of consumer privacy regulations governing the use of customer data. It would add another layer to regulations that already enable consumers to opt out of email and telephone communications.
As these privacy mandates proliferate, how can companies manage consumer preferences across channels? Data reflecting a consumer’s opt-out choices may be stored in separate applications and can be difficult to track and manage unless a company can consolidate disparate information into a complete customer view.
MDM provides a solution to maintain “golden records” on consumer privacy preferences, as noted in a new white paper by Informatica partner Infosys, “MDM—The Cornerstone of Customer Centricity.” Ultimately, privacy compliance is another element of customer centricity—orienting business processes to the customer, rather than to individual accounts.
Besides privacy and compliance, the Infosys customer centricity white paper addresses such questions as:
- Choosing the best architectural style for customer-centric MDM
- Integrating MDM with customer relationship management (CRM) systems
- Applying data quality to source systems and strengthening customer data governance
- Enhancing business intelligence for customer insight and decision-making
- Resolving customer data issues and optimizing business-side master data usage
Infosys, the global consulting and systems integration firm, also outlines risks and problems of bad customer data, examines its root cause, and draws on its experiences helping clients implement MDM for customer centricity. Download the white paper.