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For example, take an instance where the customers call the company’s help desk to stop calling him for any promotional offers. The help desk agents take the details and tell him that he will never get any calls related to product promotions.
The very next day, the marketing team calls the customer on some promotional offers, the customer will get furious and calls the help desk again and shouts at them that nothing has happened about his request. This is a good case scenario. The customers now a day have a lot of providers in each area of business, they would simply switch to the other provider. This means that you are losing the business to your competition.
Why did this happen?
Because, there are two instances of the customer copies maintained, one by the help desk and the other by the marketing team.
The need for MDM arises in this kind of situations, where it eliminates redundant and inconsistent versions of the same data(Customer data in this case) in your organization.
So, Master Data Management (MDM) helps you in providing accurate information across multiple channels and applications with in the organization. For instance, accurate product data which is very critical to differentiate your business to that of the competition and provide customers with a dynamic and personalized product packaging specific to their needs, instead of a generic product to everyone.
MDM, also helps in understanding your key and valuable customer better as it helps organizations maintain a single view of all customer data. It synchronizes customer information across systems and applications.
Q1. Is Raw data and MDM content is same? if yes, why can’t we use raw data as MDM because adding MDM is like investing more resources.
No, they are different. RAW data can contain any data, based on the source system. If the RAW data is good enough to be considered as MDM, we can directly use the RAW data as MDM by loading it directly into MDM systems. Of course, it’s the decision of the business users on what should be part of MDM and what should not be.
Q2. What is the use of summary data database in DWH?
Summary data is a whole different concept and its key driver is what business wants. When you load the whole dimensions and fact data into the Data Warehouse, it will be at the lowest granular level possible (generally). If the business does not want to see the lower level they would request for the summary data.
For example, if you consider a retail store’s daily sales. You can have about 40k records with individual transactions or a single record with a start data and end data and the total value of the products sold with aggregated information.