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Introduction
Most enterprises today, have embarked on the Digital Transformation journey. Technology forces are creating new experiences and disrupting businesses and operational models. Many enterprise executives we interviewed confirmed that they have jumped on the Digital and AI bandwagon but are unable to derive value from these investments. Now, Digital Transformation could mean different things to different Organizations. The aim is to improve efficiency, reduce costs, deliver product innovation among others resulting in business transformation using technology. However, across enterprises, increasing customer experience seem to be the hallmark theme of Digital Transformation. From a Technical standpoint, Digital transformation involves moving from the Legacy state with multiple silos such as Sales, Marketing, Finance systems to an Integrated enterprise where you can deliver Contextual and Relationship centric 360-degree views. This results in building a trusted network with your contacts outside the Organization such as Partners, suppliers, providers and distributors. In order to achieve this, along the journey you need a Central repository of critical master data assets that delivers Standardized structure, enables Interoperability, provides Unique identification of the Asset, enables single source of truth that is of very good quality, well governed and hence trusted and therefore drives greater value.
Laying the Digital Master Foundation
Industry 4.0 and its convergence of megatrends around Customer 360, Big Data, AI, Personalized marketing etc has put enormous pressure on businesses. To survive these unrelenting pressures, it’s more critical and strategic than ever, to put your data to work….
Key Business Processes leverage Master Data
Master Data is used by various teams within the organization such asSales, Marketing, Customer Service/Care, Billing Analysts, FinancialPlanners, Product Development teams etc. in support of implementingand enabling these business processes. For instance:….
Master Data Management Use Cases
Master Data Management (MDM) is used in a variety of ways across industries, to derive business value:….
The ever-growing need for MDM
While the need for MDM is arguably stronger than ever before, plenty of organizations are still slow to adopt, even those with a user base thirsty for data. The recent Aberdeen research demonstrates that the presence of a formal MDM strategy can have a demonstrable impact on user satisfaction…..
Common Capabilities of Modern MDM
