Product Information Management (PIM), DAM, EAM, PII, data enrichment, matching and linking. Not quite sure what all those abbreviations, terms and hypes mean and how they relate to Master Data Management (MDM)? Get your Master Data Management definitions in one place in this A-Z of MDM eBook.Read More
Posts about Multidomain MDM
Data silos are a huge problem for your ability to collaborate, operate efficiently and deliver excellent customer experiences. However, multidomain master data management can bring your data silos together and create new zones of insight.
This article will explore the relationship between product and supplier master data domains.Read More
To make money from data requires insightful data.
Data monetization is generally understood as the “process of using data to obtain quantifiable economic benefit” (Gartner Glossary, Data Monetization). Three typical ways to achieve this, include:
- Using data to make better decisions and thus enhance your business performance
- Sharing data with business partners for mutual benefit
- Selling data as a product or service
Multidomain master data management gives personalization strategies a better start in life
Customer experience starts with understanding what customers want. Multidomain master data management (Multidomain MDM) is a key discipline to help in the successful development of a personalization strategy. Multidomain master data management can help you build a 360° view of the customer that is needed to fuel personalization and hyper-personalization strategies with the right insights.Read More
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.Read More
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.Read More
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.
Spending too much on big data? Try small data and master data management first: Together, small data and master data management 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.Read More
What’s the most important thing in real estate? According to the old saying: location, location, location. But the sentiment can also be applied to enterprise master data.Read More
Make sure master data management includes matching and linking, business rules, governance, data privacy, enrichment and consent management
If you are evaluating master data management (MDM) solutions, what are the basic features it should offer and why? More importantly, how will each of these elements come together to benefit you and your organization? Following are six master data management features and capabilities you should look for before selecting and investing in a solution for your organization.Read More