Customer Data Platform series: 4 of 5
Over the next 5 weeks, read a new blog each week from our CDP Series as our CMO helps you to understand the CDP landscape, capabilities and functionality.
The basic raison d'être of both a Master Data Management (MDM) solution and a Customer Data Platform (CDP) is similar. Both exist to ensure that a business has a supply of carefully curated, unified, accurate and reliable corporate data, a single trusted view to deliver insights and drive business innovation, but that's where the similarities end.
For a start, MDM is a discipline and a set of processes designed to transform organization-wide data, especially in large companies, while a CDP is a packaged software product with a specific purpose to deliver a single view of the customer that the marketing department can use for the improved personalization of marketing campaigns. Another key difference is who stands to benefit from their use and how they are managed within the organization.