Minimum Viable Customer Data (MVCD) is the minimum amount of data your organization needs to achieve a specific business objective, such as providing personalized experiences, making informed decisions, or improving customer relationships.
MVCD should be considered the bare minimum data required to deliver the value that the business wants to provide to its customers, and it is determined based on the specific business goals and use cases.
The concept of Minimum Viable Customer Data (MVCD) is thought to have emanated from the methodologies associated with Lean Startups and Agile.
The Lean Startup and Agile methodology emphasizes the importance of minimum viable products (MVPs) and minimally viable solutions. These methodologies encourage businesses to focus on delivering the minimum amount of functionality or data needed to achieve their goals, rather than trying to deliver a comprehensive solution from the outset.
The idea behind MVCD is to apply the same principles to customer data, by focusing on collecting and managing only the data that is needed to achieve specific business goals and deliver value to customers.
An MVCD mindset also helps to minimize the potential risks associated with collecting and storing customer data, such as privacy and security concerns and allows businesses to more effectively manage their resources and achieve their goals.
Understanding what you need in terms of MVCD is tied to the purpose and intent you have for the data. If you want to personalize marketing campaigns, it might require only a customer’s name and email address. Having some kind of understanding of past purchase history might add another layer of complexity to the possible options for the campaign.
If you want to improve customer service, it might require more extensive data, such as customer preferences, interactions with the company, and support history.
By focusing on MVCD, you can avoid collecting and managing data that is not necessary to achieve their goals and reduce the potential risks associated with collecting and storing customer data, such as privacy and security concerns. The Pretectum CMDM supports you in being able to choose exactly what kind of data you want to hold and maintain.
MVCD is a concept that emphasizes the importance of collecting and managing only the data that is needed to achieve specific business goals and delivering value to customers, and avoiding collecting data that is not necessary or has no direct business value.
To learn how Pretectum’s CMDM supports MVCD contact us and determine if a free trial is something you want to explore.