Posts about ROI and business case

Your master data management roadmap should be embedded in an overall master data management strategy methodology.

There is no one-size-fits all. A suggested methodology for a master data management strategy and data governance initiatives typically include the following five phases:

1. Education
2. Readiness assessment
3. Strategic roadmap
4. Master data management software selection
5. Business case

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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.

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Building a business case with a strong ROI for customer data management starts with a conversation with your stakeholders

Managing your customer data with a master data management platform can add value to your business.

You know this because you’ve seen that trusted sources of customer data can help you reduce the cost of application integration, improve customer experience and get more actionable insight from your analytics.

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Chief Data Officers used to have compliance as their primary concern. Today, they are drivers of digital transformation. They are often called upon to establish a data-driven culture and underlying technology infrastructure to deliver tangible business benefits for the organization.

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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.

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Communicating the value of master data management to executive leadership can be a challenge. Here are four simple steps to get started.

The return on investment (ROI) of master data management is a topic that keeps captivating people – especially those considering investing in master data management. And with good reason. As with all major expenditures, people want to know what the outcome will be before they commit to it. It’s basic business logic.

Unfortunately, the answer isn’t always straightforward, since it isn’t necessarily easy to quantify the value of high-quality data and smoother data-driven business processes.

With this in mind, here are a few helpful steps to help you determine the ROI of a master data management implementation.

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