How to Effectively Manage Your Customer Master File

The challenge with customer data is that its quality quickly degenerates over time. Experts say two percent of records in a customer file become obsolete every month because customers cease, merge, split, and move. That adds up to nearly 25 percent of your customer data each year! If your customer master file (CMF) contains inactive customers, duplicate data, or coding inaccuracies, it will not provide you a clear picture of customers’ purchasing and payment patterns. This puts an enormous…