Customer data platforms (CDPs) are designed to provide customer data across a range of enterprise applications and departments: CRM, marketing, customer service, and others. But the value of customer data depends on it being both timely and accurate, and many CDPs have difficulty delivering information that matches the speed of the customer and is comprehensive and accurate enough to drive first-class customer engagement.
The biggest requirement for a useful customer “golden record” is to quickly and accurately update and merge core identity data like address and phone number with behavioral, transactional, and social data like web search, purchase history, and Facebook conversations.
The RedPoint Customer Data Platform™ has included match, merge, and normalization capabilities for years, but today I’m excited to announce the extension of the platform with new master data management (MDM) capabilities. RedPoint MDM expands data stewardship to sales, marketing, and customer service so that the business people with the deepest customer insight can refine and update the core customer data for better engagement with customers, citizens, and clients.
Working on the identity side of the customer equation, RedPoint MDM provides the framework to match, merge, and manage changing customer details from different source systems while retaining an audit and change trail to meet privacy and compliance requirements.
The key highlights of RedPoint MDM include:
- Easy integration with existing applications. RedPoint MDM uses prebuilt APIs (REST-based web services) and data flows in RedPoint Data Management™ to make master data (customers, products, devices, and other business entities) available in existing apps (such as call center, product fulfillment, and onboarding solutions). Our clients can now handle master data across applications with greater speed, ease, consistency, and timeliness.
- Complete view of changes. RedPoint MDM includes a versioned master data store with tags for user changes and original lineage for auditability and accountability of customer data. RedPoint provides an audit trail and view of older data at the record level, so logs and change jobs are unnecessary.
- Workflow management. RedPoint MDM includes a browser-based UI and business processes for data stewards and business users to oversee changes to master data. Business-friendly master data processes mean IT doesn’t have to build separate applications for controlling and publishing master data.
RedPoint recently launched the RedPoint Customer Engagement Hub™ solution, which combines our market-leading CDP (providing rich, 360-degree customer profiles) with our real-time customer interaction platform to optimize customer engagement across all touchpoints. RedPoint MDM enhances the CDP and helps the Customer Engagement Hub drive real-time decisions and intelligently orchestrate engagement with their customers from a single point of control. With this single point of control, businesses can leverage their better understanding of customer behaviors and preferences to provide next best actions in the moment of need and close the gap between customer experience and expectations.