Single customer view
A Single Customer View is an aggregated, consistent and holistic representation of the data known by an organisation about its customers. The advantage to an organisation of attaining this unified view comes from the ability it gives to analyse past behaviour in order to better target and personalise future customer interactions. A single customer view is also considered especially relevant where organisations engage with customers through multiple channels, since customers expect those interactions to reflect a consistent understanding of their history and preferences. However, some commentators have challenged the idea that a single view of customers across an entire organisation is either natural or meaningful, proposing that the priority should instead be consistency between the multiple views that arise in different contexts.
Where representations of a customer are held in more than one system, achieving a single customer view can be difficult: firstly because customer identity must be traceable between the records held in those systems, and secondly because anomalies or discrepancies in the customer data must be resolved. As such, the acquisition by an organisation of a single customer view is one potential outcome of successful Master data management. Since December 2010, maintaining a single customer view has become mandatory for UK banks and other deposit takers due to new rules introduced by the Financial Services Compensation Scheme.