Customer Data Management Task

Context:
- It can be solved by a Customer Data Management System (that may use a customer data management platform).
- …
Counter-Example(s):
- Product Data Management.
See: Customer Base, Cloud Computing, Customer Retention, Customer Satisfaction.

References

(Wikipedia, 2017) ⇒ https://en.wikipedia.org/wiki/customer_data_management Retrieved:2017-3-12.
- Customer data management (CDM) is the ways in which businesses keep track of their customer information and survey their customer base in order to obtain feedback. CDM embraces a range of software or cloud computing applications designed to give large organizations rapid and efficient access to customer data. Surveys and data can be centrally located and widely accessible within a company, as opposed to being warehoused in separate departments. CDM encompasses the collection, analysis, organizing, reporting and sharing of customer information throughout an organization. Businesses need a thorough understanding of their customers’ needs if they are to retain and increase their customer base. Efficient CDM solutions provide companies with the ability to deal instantly with customer issues and obtain immediate feedback. As a result, customer retention and customer satisfaction can show dramatic improvement. According to a recent study by Aberdeen Group inc.: "Above-average and best-in-class companies... attain greater than 20% annual improvement in retention rates, revenues, data accuracy and partner/customer satisfaction rates." ^[1]