Multidomain master data management (MDM) gives personalization strategies a better start in life

Customer experience starts with understanding what customers want. Multidomain master data management is a key discipline to help in the successful development of a personalization strategy. Multidomain MDM can help you build a 360° view of the customer that is needed to fuel personalization and hyper-personalization strategies with the right insights.

Grocery is one of the retail sub channels that is poised to gain most from digital transformation.

The COVID-19 pandemic has permanently changed how we shop for groceries. Online grocers and fresh food delivery services are experiencing a rise in demand that can be hard to manage for those who are lagging digitally. Consumers expect expediency, transparency, and a seamless digital experience.

Your MDM roadmap should be embedded in an overall MDM strategy methodology.

There's no one-size-fits all. A suggested methodology for master data management (MDM) strategy and data governance initiatives typically include the following phases:

1. Education
2. Readiness assessment
3. Strategic roadmap
4. MDM software selection
5. Business case

High-quality master data and transparent processes are necessary to protect and grow your business. Master data governance helps you achieve it.

Transparency and high-quality master data are essential to everything related to your business: revenue growth, operational efficiency, risk management and compliance, analytics and digital transformation; and your ability to control costs and be agile.

The following discusses what master data governance is, why you need it, and how to implement it.

The importance of data integrity in delivering an optimal digital experience for customers

Shopping behaviors shifted dramatically last year as consumers adopted more digital tactics across the entire shopping journey. Many consumers engaged in digital activities throughout the shopping process such as researching and purchasing products online or selecting different delivery options. These retail trends are here to stay, according to a McKinsey survey, which found that 71% of apparel shoppers and 66% of grocery shoppers who used digital shopping services for the first time during the Covid-19 crisis will continue to do so after it ends.

Five steps to unlock the value of your data and achieve compliance, using approved data management principles

As your company’s connected and online business activities increase, so does the data generated by these interactions. But, how are you using this data? Are you harnessing the insights it imparts to increase sales or launch new products? If not, why not? This post gives you 5 steps on how to improve your data management efforts.

Not all “multidomain” master data management (MDM) solutions are the same. Here are the differences and why you need to know.

When selecting solutions to help support your master data management and data governance ambitions, one of the many aspects you are likely to evaluate will be support for “multidomain” MDM. Your initial inclination is almost certain to be selecting a solution that can “do-it-all.” In many cases, this will be despite the fact you currently have a business use case for only one data domain; customer or product data, for example. A single solution that could do more in the future would, of course, be desirable, to make more efficient use of available resources.

Together, small data and multidomain MDM reveal new insights into your business

Over the past few years working in data governance, I have encountered many projects aiming to re-write decision making processes using ”big data.” Data lakes, predictive analytics, AI and a cacophony of other acronyms have for many people veiled the complexity of big data, which pledged to deliver the four golden eggs of data insight; 1) better decision making, 2) happier customers, 3) freedom from risk and 4) identification of new opportunities.

Increasing the value of your data is easy with master data management

Last year was a year of tremendous change for businesses and consumers, as they adjusted to the realities of life during a pandemic. Many consumers turned to apps to track diet, fitness and other personal goals with incredible detail, accuracy and consistency, often connecting them to wearable technology that captures data automatically (e.g., heart rate or steps taken).

Trustworthy, transparent data has never been more essential to business success than right here, right now

A healthy, well-run democracy is characterized by a willingness among its leaders to find common ground they can stand on in order to create a better future for its citizens. Despite the fact they often have different opinions on what actions need to be taken, experienced politicians know they can only succeed through collaboration. They also know success depends on being able to agree on some basic assumptions about what the facts are, and what they are not. It is otherwise impossible to make sustainable progress in a democracy.