Master Data Management tools vs. Customer Data Platform
The premises of both master data management (MDM) tools and customer data platforms (CDP) are very nearly the same. They both propose to unify data.
MDM tools are used to pool a variety of data from all over the company and from every department. This repository becomes a “single source of truth” of all the company data. CDPs differ markedly in that they just unified customer data into a single customer view. The domain is set to benefit marketers. MDM tools, on the other hand, encompass all the data and must be tailored to suit the end needs of the system. Feasibly, an MDM tool could be modeled exactly after a CDP and cater only to a unified customer view, but more often it is used to consolidate business-critical data.