MDM (master data management) and CDP (customer data platform) are both technologies used to collect and manage customer data. However, there are some key differences between the two.
MDM is typically used to manage internal data, such as employee or product information. CDP, on the other hand, is designed specifically for customer data. It collects data from a variety of sources, including online and offline interactions, to create a complete picture of the customer.
CDPs are also more flexible than MDMs when it comes to data processing. They can provide real-time insights and enable marketers to take immediate action based on customer behavior.
In short, MDM is a great tool for managing internal data, but if you're looking for a comprehensive solution for understanding and engaging your customers, a CDP is the way to go.