A recent PricewaterhouseCoopers survey of C-level executives at large multinational companies revealed an alarming gap between the value and usability of corporate data.
Some 71 percent of the executives believe their corporate data is a highly valuable asset—but just 39 percent of them feel their companies make very effective use of it, a PwC Management Barometer study reported.
In other words, most companies fail to effectively put their data to work to attract new customers, accelerate business processes, and improve performance. Is your company among the laggards? What would you say if your CEO asked you how the company could improve the usability of its corporate information?
Our new executive brief, “What Your CEO Should Know About Master Data Management” takes a look at just that question. Using illustrated examples, this brief outlines a practical, step-by-step use case of how MDM can turn a company’s contradictory and disorganized information into a single, authoritative data set that drives business performance.
The hypothetical scenario in the paper shows how master data management (MDM) can help boost revenue through improved customer retention and more effective cross-sell and up-sell by giving sales, marketing, and channel partner teams a consolidated view of customer accounts, their corporate hierarchies, the products and services adopted and the channels they use. Of course, MDM can be used to solve other business imperatives such as risk management and compliance and operational efficiency by consolidating product, supplier, partner, and other reference data.
If your CEO and others in the business think MDM only benefits IT, be sure to download this executive brief. With its how-to examples, it might help you develop a business case for MDM to improve customer acquisition and retention and to improve the usability—and the value—of your organization’s data. Please let me if this was a useful guide for you.