Let’s say you’re a Fortune 500 manufacturer and a supplier informs you that a part it sold you last year is faulty and needs to be replaced. What’s the first thing you do—and how do you do it?
You need answers fast to critical questions: In which products did we use the faulty part? Which customers bought those products and where are they located? Do we have substitute parts in stock? Do we have an alternate supplier?
But the answers are sprawled across multiple domains of your enterprise—your procurement system, CRM, inventory, ERP, SFA, maybe others in multiple countries around the world. How can you respond swiftly and precisely to a problem that could escalate into a business crisis?
Business issues often span multiple domains, exerting a domino effect across the enterprise and confounding an easy solution. Responsiveness and operational efficiency depend on seamlessly orchestrating interdependent processes—and the data that drives them.
Universal MDM is the concept that describes managing all master data, regardless of its type or location, with a single, unified solution. Four key characteristics define universal MDM:
- Multi-domain: Master data on customers, suppliers, products, assets, locations, can be managed, consolidated, and accessed.
- Multi-style: A flexible solution may be used in any style: registry, consolidated, co-existence, or centralized.
- Multi-deployment: The solution may be used as a single-instance hub, or in federated, cloud or service architectures.
- Multi-use: The MDM solution interoperates seamlessly with data integration and data quality technologies as part of a single platform.
With universal MDM, our hypothetical manufacturer could quickly locate reliable, authoritative master data to answer its pressing business questions, regardless of where the data resided or whether multiple MDM styles and deployments were in place. This single-solution approach is in stark contrast to standalone, purpose-built single MDM instances—in effect, a set of data silos meant to solve problems with other data silos.
To learn more about universal MDM, see this brief new video. As always, we welcome your feedback!