Posts about Transparency (2)

Financial services institutions, such as banks and insurance companies, rely on MDM-enabled transparency of their customer master data and product master data to capitalise on a number of industry trends, including:

Master data management (MDM) plays a critical role in ensuring data transparency. MDM therefore enables you to leverage the customer and product master data – that you already have – to address and drive revenue from these current trends in the financial services industry.

Do you feel like your databases are more like data vaults? The data vault contains all the information on customers, prospects, products, operations, and finances, only no one knows how to unlock it and discover its secrets.

Synthetic data is the test data that makes your business operations run smoothly; and if those operations are automated with AI, it's essential to use master data management (MDM) to make sure your decisions are unbiased.

Data generates data which in turn generates more data. How do we know if what is being produced is fit for purpose? What if a bot, designed to help us to make an informed investment decision or simply provide us with the best answer to our customer services question, gets it wrong?

Obviously, testing all the different corners of solution sets is important. As AI takes a more dominant role in automating decision processes, it becomes essential to make sure MLOps - enabled by MDM - is working from good data that is explainable (XAI) and free from bias.

Discover the seven business benefits of transparent product information management (PIM) in the pharmaceutical manufacturing industry

The business of pharmaceutical manufacturing is undergoing a data evolution. Business leaders need to understand how mastery of their data is essential to achieve leadership in a highly competitive market. The importance of the digital supply chain is growing. Manufacturers are building new processes that interconnect the back office with the front office and even directly to the customer’s operations. The pharmaceutical industry is becoming more digitally enabled and data intensive. Building a digital supply chain requires harvesting the raw materials that constitute it: Data.

Get the eight business benefits of transparent product information management in the medical device manufacturing industry - It's not all about compliance with medical device regulations

The business of manufacturing medical devices is undergoing a data evolution. Business leaders need to understand how mastery of their data is essential to achieve leadership in a highly competitive market.

The pertinence and prevalence of the digital supply chain is growing. Manufacturers are building new processes that interconnect the back office with the front office and even directly to the customer’s operations. The industry is becoming more digitally enabled and data intensive.

Building a digital supply chain requires harvesting the raw materials that constitute it: Data.

Author’s note: Click here to see my updated post for 2021 and beyond

Making the most of today’s environment requires brands to enhance their data management capabilities with new innovations.

For consumer packaged goods (CPG) companies, the only constant is change – especially as it applies to trends impacting the industry. While many of last year’s trends are just as relevant today, the difference is that consumer behavior and market changes are occurring at a much faster rate (approximately 2-3 months instead of 2-3 years). For the most part, CPG companies and their retail partners have made tremendous strides in addressing these trends. In fact, some of the best prepared companies have moved beyond surviving and are actually thriving during these challenging times.

Unified and enriched customer information can enhance your data analytics and provide actionable customer insight for corporate and investment banks

Relationship managers need insightful customer information upon which they can take action. Sometimes a single piece of unique information can give relationship managers in corporate and investment banks the edge they need to decide how to move an opportunity forward, or indeed avoid being exposed to risk. The availability and trustworthiness of that piece of information relies on the quality and richness of the data that is being analysed.

Does your business consider data an afterthought?

This was the question posed to the CDO of Dyson, Mridul Mathur, during a recent podcast. Here’s his response.

In a business context, democratizing data means to make data (and derived analytics and insights) available to all layers of an organization and its business ecosystem, across departmental boundaries.

I was riding a taxi in Paris recently where I experienced a moment I shall remember forever. It was both awe inspiring and yet terrified me to the very depths of my soul.

The driver took me down the Champs-Élysées and across the Arc de Triomphe… at rush hour.