MDM connects, masters and shares data from all your systems, including ERP, CRM, ecommerce and more. It allows you to create a 360° view of your information. You’ll learn everything from the buying history of your customers to product availability and supplier interaction.
MDM allows you to:
Eliminate silos
of master data that exist in different departments or business
Improve operational efficiency
by aligning organizational and operational data
Increase collaboration
between internal and external groups
Enhance the customer experience
by using insights to drive business performance
Save resources
by automating and streamlining essential data processes
Reduce risks
associated with regulatory compliance such as GDPR
Whether you’re considering adopting an MDM solution, you’re implementing but don’t know where to start or if you have some MDM capabilities but feel that they need to be updated, these three steps will help you get started.
As your business grows, your IT landscape becomes more complicated. Acquisitions, expansion into new markets and new countries can result in your business running multiple systems, applications and technologies. This fragmented environment creates significant data management difficulties.
MDM provides an organizing approach to data management and increases the value of your analytics and the quality of your data. It connects information, people and processes to help you meet business objectives and improves the quality of data.
PIM, DAM, CDO, data enrichment, matching and linking ... Not quite sure what all those abbreviations and terms mean and how they relate to master data management? Get the answers with this A-Z MDM guide.
“The thing that has made Kellogg’s implementation unique is that it has been global from day one. When we evaluated solutions, it had to have that capability and be able to accommodate all the languages and nuances for our markets around the world."Global Director IT Marketing | The Kellogg Company
MDM delivers core data capabilities that connect and provide information to every point in the business. You can truly transform your business strategies because you have high-quality data dispersed enterprise-wide.
The more you understand the complexities of your business challenges, the more deliberately you can begin to choose your master data management solution. To help, here are seven steps to making your MDM project a success.
After you’ve built your strategy, but before you embark on your MDM journey, take into account four considerations:
Build the business case
Since there are many stakeholders and factors involved in any large-scale IT project, the below guide will help you build the business case.
Align with your mission
Consider how your plan aligns with the purpose of your business. You should also develop your roadmap to highlight the obstacles you need to overcome.
Choose the right approach
Consider the available delivery options. For example, choose either a linear or an agile approach.
Quantify business value
Consider what success looks like to you and establish clear, attainable metrics to track and measure results.
Even if you are certain that investing in a master data management solution is the best way for your organization to succeed with your data, you will still have to 'sell it' to the rest of the decision makers. Since there are many stakeholders and considerations involved, we have developed a guide that you can follow to build the business case.
Working towards the below trends will help you improve the level of control and insight you have over your master data, allowing you to serve customers better, improve business output, remain compliant and increase revenue.
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