Within a coexistence MDM landscape, operational master data must, at times, be further enriched with additional industry data. Such data is usually procured through third-party channels and provides valuable insight to persons and parties that an organization does business with. Such data is especially useful when operationalized as it provides input to drive more efficient operations which influences strategic business decisions.
Who is Impacted?
Benny, an associate on the Sales team, is responsible for managing ACME’s retailer / distributor data. It is part of their responsibility to assist in identifying and realizing ACME’s sales opportunities.
What is the Business Problem?
ACME relies on their sales marketing team to generate new sales leads and realize their financial targets. Without the assistance of industry data from third-party sources, it is extremely challenging to conduct customer segmentation and analysis to identify new opportunities
Current Process
Currently, all new sales leads are generated by person-to-person contact by Benny and the sales team. As they gather more information about their existing customers and prospects, they are entered into their CRM system. However, since the sales team does not have access to third-party industry data, the amount of data they are able to gather is limited, and thus hinders their ability to expand their sales opportunities.
Future Process
With the introduction of third-party Dun & Bradstreet data, the sales team now has new insights into prospective customers and can carry out activities such as customer segmentation analysis and other activities driven by sales and marketing. This allows sales to better target prospects by fully understanding their customer profiles and maximizing their cross-sell and up-sell opportunities.