Europe might have started a little later than the U.S. with master data management, but if the inaugural Gartner MDM Summit for EMEA is any indication, it’s catching up quickly. Well over 350 registrants attended the event in London in early February, with strong representation from the UK, France, the Netherlands and other EMEA countries. Gartner Research VP Andrew White called the event a “major hit,” and I have to agree.
For us at Informatica, it was a great opportunity to hear in person from the EMEA audience how they are using or envisioning MDM for their business, especially as we added a sizable number of new MDM customers last year from European nations. As in the U.S., MDM is attracting interest from financial services companies (36 percent of London MDM Summit attendees), followed by retail, manufacturing, pharmaceuticals, and other industries.
Some other key takeaways, based on a Gartner survey—customer data is the hottest MDM focus area in EMEA, followed by product and asset data. Key objectives for MDM in EMEA are to improve business processes, create new efficiencies, and enhance decision-making. Multidomain MDM (spanning customer, product, and other domains) was highlighted as the chief emerging trend, followed by MDM in the cloud, MDM-aware applications, and MDM for small and medium enterprise. I wrote a whitepaper on multidomain MDM – read to understand how it can maximize business value.
Mike Striefel of St. Jude Medical, an Informatica MDM customer, outlined his company’s use of MDM in an inspiring presentation called “An Accelerated MDM Journey: From Mastering Compliance to Mastering Products.” With an audience of more than 110 attendees, Mike outlined how St. Jude Medical, a medical device manufacturer, had lacked a central master data foundation and struggled to manage critical data and as a result suffered business inefficiencies and increased risk.
Facing new regulatory requirements, St. Jude deployed MDM to support physician spend compliance in just 10 weeks, paving the way to manage product data and sales reporting and transition to a centralized MDM hub. The results include regulatory compliance, enhanced sales reporting and analytics, improved data quality, and a single, reliable data source to support critical business processes.
If you haven’t attended a Gartner MDM Summit, I encourage you to look into it. The next opportunity is coming right up, with Gartner’s U.S. MDM Summit on May 4-6 in Los Angeles, California. And yes—the weather will be a little nicer than London in February!