Category Archives: Master Data Management
“Trying to improve the quality of asset data when you don’t have a solid data management infrastructure in place is like trying to save a sinking boat with a bailing bucket,” explained Dean Balog, a senior principal consultant at Noah Consulting, in this webinar, Attention Utility Executives: Don’t Waste Millions in Operating Costs Due to Bad Asset Data
Dean has 15 years of experience in information management in the utilities industry. In this interview, Dean and I discuss the top issues facing utility executives and how to improve the quality of mission-critical asset data for asset management / equipment maintenance and regulatory reporting, such as rate case submissions.
Q: Dean, what are the top issues facing utility executives?
A: The first issue is asset management / equipment maintenance. Knowing where to invest precious dollars is critical. Utility executives are engaged in a constant tug of war between two competing priorities: replacing aging infrastructure and regular maintenance.
Q. How are utility executives determining that balance?
A. You need to start with facts – the real costs and reliability information for each asset in your infrastructure. Without it, you are guessing. Basically, it is a data problem. Utility executives should ask themselves these questions:
- Do we have the ability to capture and combine cost and reliability information from multiple sources? Is it granular enough to be useful?
- Do we know the maintenance costs of eight-year-old breakers versus three-year-old breakers?
- Do our meters start failing around the average lifespan? For this example, let us say that is five years. Rather than falling uniformly into that average, do 30% of our meters fail in the first year and the rest last eight years? Those three extra years of life can certainly help out the bottom line.
Knowing your data makes all the difference. The right capital investment strategy requires combining performance, reliability, and cost data.
Q. Why is it difficult for utility executives to understand the real costs and reliability of assets?
A. I know this does not come as a shock, but most companies do not trust their data. Asset data is often inaccurate, inconsistent, and disconnected. Even the most basic data may not be available. For example, manufacture dates on breakers should be filled in, but they are not. If less than 50% of your breakers have manufacture dates, how can you build a preventative maintenance program? You do not even know what to address first!
A traditional approach to solving this data problem is to do a big data cleanup. You clean the data, and then before you know it, errors creep back in, and the trust in the data you have worked so hard to establish is lost.
I like to illustrate the pain of this issue by using the sinking boat analogy. Data cleanup is like bailing out the water collecting in the bottom of the boat. You think you are solving the problem but more water still seeps into the boat. You cannot stop bailing or you will sink. What you need to do is fix the leaks, and then bail out the boat. But, if you do not lift up your head from bailing long enough to see the leaks and make the right investments, you are fighting a losing battle.
Q. What can utility executives do to improve the quality of asset data?
A. First of all, you need to develop a data governance framework. Going back to the analogy, a data governance framework gives you the structure to find the leaks, fix the leaks, and monitor how much of the water has been bailed out. If the water level is still rising, you have not fixed all the leaks. But having a data governance framework is not the be-all and end-all.
You also need to appoint data stewards to be accountable for establishing and maintaining high quality asset data. The job of a data steward would be easy if there was only one system where all asset data resided. But the fact of the matter is that asset data is fragmented – scattered across multiple systems. Data stewards have a huge responsibility and they need to be supported by a solid data management infrastructure to ease the burden of managing business-critical asset information.
Master Data Management (MDM) ensures business-critical asset data is consistent everywhere by pulling together data that is scattered across multiple applications. It manages and masters it in a central location on a continuous basis and shares it with any applications that need that data. MDM provides a user interface and workflow for data stewards to manage the tangled web of names and IDs these assets are known by across systems. It also gives utilities a disciplined approach to manage important relationships between the asset data, such as an asset’s performance reliability and its cost.
Q. Any other pressing issues facing utilities?
A. Yes. Another big issue is tightening regulations that consume investment dollars and become key inputs into rate case submissions and defenses. One of the complicating factors is the number of regulations is not only increasing, but the regulators are also requiring faster implementation times than ever before. So, utilities cannot just do what they have done in the past: throw more people at the problem in the short-term and resolve to fix it later by automating it “when things slow down.” That day never comes.
Q. How can utilities deal with these regulatory pressures?
A. Utilities need a new approach to deal with regulations. Start with the assumption that all data is fair game for regulators. All data must be accessible. You need to be able to report on it, not only to comply with regulations, but for competitive advantage. This requires the high quality asset information we talked about earlier, and an analytical application to:
- Perform what-if analyses for your asset investment program;
- Develop regulatory compliance or environmental reports quickly, because the hard work (integrating the data within your MDM program) has already been done; and
- Get access to granular, observed reliability and cost information using your own utility’s data – not benchmark data that is already a couple of years old and highly summarized.
Q. What is your advice for utility company executives?
A. If you are the one responsible for signing off on regulatory reports and you do not look good in an orange jumpsuit, you need to invest in a plan that includes people, process, and technology to support regulatory reporting and asset management / equipment maintenance.
- People – Data stewards have clear accountability for the quality of asset data.
- Process – Data governance is your game plan.
- Technology – A solid data management infrastructure consisting of data integration, data quality, and master data management is your means.
If you are responsible for asset management / equipment maintenance or regulatory reporting, particularly rate case submissions, check out this webinar, Attention Utility Executives: Don’t Waste Millions in Operating Costs Due to Bad Asset Data
Our panel of utility data experts:
- Reveal the five toughest business challenges facing utility industry executives;
- Explain how bad asset data could be costing you millions of dollars in operating costs;
- Share three best practices for optimizing asset management / equipment maintenance and regulatory reporting with accurate, consistent, and connected asset information; and
- Show you how to implement these best practices with a demonstration.
Bad data is bad for business. Ovum Research reported that poor quality data is costing businesses at least 30% of revenues. Never before have business leaders across a broad range of roles recognized the importance of using high quality information to drive business success. Leaders in functions ranging from marketing and sales to risk management and compliance have invested in world-class applications, six sigma processes, and the most advanced predictive analytics. So why are you not seeing more return on that investment? Simply put, if your business-critical data is a mess, the rest doesn’t matter.
Not all business leaders know there’s a better way to manage their business-critical data. So, I asked Dennis Moore, the senior vice president and general manager of Informatica’s MDM business, who clocked hundreds of thousands of airline miles last year visiting business leaders around the world, to talk about the impact of using accurate, consistent and connected data and the value business leaders can gain through master data management (MDM).
Q. Why are business leaders focusing on business-critical data now?
A. Leaders have always cared about their business-critical data, the master data on which their enterprises depend most — their customers, suppliers, the products they sell, the locations where they do business, the assets they manage, the employees who make the business perform. Leaders see the value of having a clear picture, or “best version of the truth,” describing these “master data” entities. But, this is hard to come by with competing priorities, mergers and acquisitions and siloed systems.
As companies grow, business leaders start realizing there is a huge gap between what they do know and what they should know about their customers, suppliers, products, assets and employees. Even worse, most businesses have lost their ability to understand the relationships between business-critical data so they can improve business outcomes. Line of business leaders have been asking questions such as:
- How can we optimize sales across channels when we don’t know which customers bought which products from which stores, sites or suppliers?
- How can we quickly execute a recall when we don’t know which supplier delivered a defective part to which factory and where those products are now?
- How can we accelerate time-to-market for a new drug, when we don’t know which researcher at which site used which combination of compounds on which patients?
- How can we meet regulatory reporting deadlines, when we don’t know which model of a product we manufactured in which lot on which date?
Q. What is the crux of the problem?
A. The crux of the problem is that as businesses grow, their business-critical data becomes fragmented. There is no big picture because it’s scattered across applications, including on premise applications (such as SAP, Oracle and PeopleSoft) and cloud applications (such as Salesforce, Marketo, and Workday). But it gets worse. Business-critical data changes all the time. For example,
- a customer moves, changes jobs, gets married, or changes their purchasing habits;
- a suppliers moves, goes bankrupt or acquires a competitor;
- you discontinue a product or launch a new one; or
- you onboard a new asset or retire an old one.
As all this change occurs, business-critical data becomes inconsistent, and no one knows which application has the most up-to-date information. This costs companies money. It saps productivity and forces people to do a lot of manual work outside their best-in-class processes and world-class applications. One question I always ask business leaders is, “Do you know how much bad data is costing your business?”
Q. What can business leaders do to deal with this issue?
A. First, find out where bad data is having the most significant impact on the business. It’s not hard – just about any employee can share stories of how bad data led to a lost sale, an extra “truck roll,” lost leverage with suppliers, or a customer service problem. From the call center to the annual board planning meeting, bad data results in sub-optimal decisions and lost opportunities. Work with your line of business partners to reach a common understanding of where an improvement can really make a difference. Bad master data is everywhere, but bad master data that has material costs to the business is a much more pressing and constrained problem. Don’t try to boil the ocean or bring a full-blown data governance maturity level 5 approach to your organization if it’s not already seeing success from better data!
Second, focus on the applications and processes used to create, share, and use master data. Many times, some training, a tweak to a process, or a new interface can be created between systems, resulting in very significant improvements for the users without major IT work or process changes.
Lastly, look for a technology that is purpose-built to deal with this problem. Master data management (MDM) helps companies better manage business-critical data in a central location on an ongoing basis and then share that “best version of the truth” with all on premise and cloud applications that need it.
Let’s use customer data as an example. If valuable customer data is located in applications such as Salesforce, Marketo, Seibel CRM, and SAP, MDM brings together all the business-critical data, the core that’s the same across all those applications, and creates the “best version of the truth.” It also creates the total customer relationship view across functions, product lines and regions, which CRM promised but never delivered.
MDM then shares that “mastered” customer data and the total customer relationship view with the applications that want it. MDM can be used to master the relationships between customers, such as legal entity hierarchies. This helps sales and customer service staff be more productive, while also improving legal compliance and management decision making. Advanced MDM products can also manage relationships across different types of master data. For example, advanced MDM enables you to relate an employee to a project to a contract to an asset to a commission plan. This ensures accurate and timely billing, effective expense management, managed supplier spend, and even improved workforce deployment.
When your sales team has the best possible customer information in Salesforce and the finance team has the best possible customer information in SAP, no one wastes time pulling together spreadsheets of information outside of their world-class applications. Your global workforce doesn’t waste time trying to investigate whether Jacqueline Geiger in one system and Jakki Geiger in another system is one or two customers, sending multiple bills and marketing offers at high cost in postage and customer satisfaction. All employees who have access to mastered customer information can be confident they have the best possible customer information available across the organization to do their jobs. And with the most advanced and intelligent data platform, all this information can be secured so only the authorized employees, partners, and systems have access.
Q. Which industries stand to gain the most from mastering their data?
A. In every industry there is some transformation going on that’s driving the need to know people, places and things better. Take insurance for example. Similar to the transformation in the travel industry that reduced the need for travel agents, the insurance industry is experiencing a shift from the agent/broker model to a more direct model. Traditional insurance companies now have an urgent need to know their customers so they can better serve them across all channels and across multiple lines of business.
In other industries, there is an urgent need to get a lot better at supply-chain management or to accelerate new product introductions to compete better with an emerging rival. Business leaders are starting to make the connection between transformation failures and a more critical need for the best possible data, particularly in industries undergoing rapid transformation, or with rapidly changing regulatory requirements.
Q. Which business functions seem most interested in mastering their business-critical data?
A. It varies by industry, but there are three common threads that seem to span most industries:
- MDM can help the marketing team optimize the cross-sell and up-sell process with high quality data about customers, their households or company hierarchies, the products and services they have purchased through various channels, and the interactions their organizations have had with these customers.
- MDM can help the procurement team optimize strategic sourcing including supplier spend management and supplier risk management with high quality data about suppliers, company hierarchies, contracts and the products they supply.
- MDM can help the compliance teams manage all the business-critical data they need to create regulatory reports on time without burning the midnight oil.
Q. How is the use of MDM evolving?
A. When MDM technology was first introduced a decade ago, it was used as a filter. It cleaned up business-critical data on its way to the data warehouse so you’d have clean, consistent, and connected information (“conformed dimensions”) for reporting. Now business leaders are investing in MDM technology to ensure that all of their global employees have access to high quality business-critical data across all applications. They believe high quality data is mission-critical to their operations. High quality data is viewed as the the lifeblood of the company and will enable the next frontier of innovation.
Second, many companies mastered data in only one or two domains (customer and product), and used separate MDM systems for each. One system was dedicated to mastering customer data. You may recall the term Customer Data Integration (CDI). Another system was dedicated to mastering product data. Because the two systems were in silos and business-critical data about customers and products wasn’t connected, they delivered limited business value. Since that time, business leaders have questioned this approach because business problems don’t contain themselves to one type of data, such as customer or product, and many of the benefits of mastering data come from mastering other domains including supplier, chart of accounts, employee and other master or reference data shared across systems.
The relationships between data matter to the business. Knowing what customer bought from which store or site is more valuable than just knowing your customer. The business insights you can gain from these relationships is limitless. Over 90% of our customers last year bought MDM because they wanted to master multiple types of data. Our customers value having all types of business-critical data in one system to deliver clean, consistent and connected data to their applications to fuel business success.
One last evolution we’re seeing a lot involves the types and numbers of systems connecting to the master data management system. In the past, there were a small number of operational systems pushing data through the MDM system into a data warehouse used for analytical purposes. Today, we have customers with hundreds of operational systems communicating with each other via an MDM system that has just a few milliseconds to respond, and which must maintain the highest levels of availability and reliability of any system in the enterprise. For example, one major retailer manages all customer information in the MDM system, using the master data to drive real-time recommendations as well as a level of customer service in every interaction that remains the envy of their industry.
Q. Dennis, why should business leaders consider attending MDM Day?
A. Business leaders should consider attending MDM Day at InformaticaWorld 2014 on Monday, May 12, 2014. You can hear first-hand the business value companies are gaining by using clean, consistent and connected information in their operations. We’re excited to have fantastic customers who are willing to share their stories and lessons learned. We have presenters from St. Jude Medical, Citrix, Quintiles and Crestline Geiger and panelists from Thomson Reuters, Accenture, EMC, Jones Lang Lasalle, Wipro, Deloitte, AutoTrader Group, McAfee-Intel, Abbvie, Infoverity, Capgemini, and Informatica among others.
Last year’s Las Vegas event, and the events we held in London, New York and Sao Paolo were extremely well received. This year’s event is packed with even more customer sessions and opportunities to learn and to influence our product road map. MDM Day is one day before InformaticaWorld and is included in the cost of your InformaticaWorld registration. We’d love to see you there!
See the MDM Day Agenda.
For the past few years, the press has been buzzing about the potential value of Big Data. However, there is little coverage focusing on the data itself – how do you get it, is it accurate, and who can be trusted with it?
We are the source of data that is often spoken about – our children, friends and relatives and especially those people we know on Facebook or LinkedIn. Over 40% of Big Data projects are in the sales and marketing arena – relying on personal data as a driving force. While machines have no choice but to provide data when requested, people do have a choice. We can choose not to provide data, or to purposely obscure our data, or to make it up entirely.
So, how can you ensure that your organization is receiving real information? Active participation is needed to ensure a constant flow of accurate data to feed your data-hungry algorithms and processes. While click-stream analysis does not require individual identification, follow-up sales & marketing campaigns will have limited value if the public at large is using false names and pretend information.
BCG has identified a link between trust and data sharing:
“We estimate that those that manage this issue well [creating trust] should be able to increase the amount of consumer data they can access by at least five to ten times in most countries.”[i]
With that in mind, how do you create the trust that will entice people to share data? The principles behind common data privacy laws provide guidelines. These include: accountability, purpose identification and disclosure, collection with knowledge and consent, data accuracy, individual access and correction, as well as the right to be forgotten.
But there are challenges in personal data stewardship – in part because the current world of Big Data analysis is far from stable. In the ongoing search for the value of Big Data, new technologies, tools and approaches are being piloted. Experimentation is still required which means moving data around between data storage technologies and analytical tools, and giving unprecedented access to data in terms of quantity, detail and variety to ever growing teams of analysts. This experimentation should not be discouraged, but it must not degrade the accuracy or security of your customers’ personal data.
How do you measure up? If I made contact and asked for the sum total of what you knew about me, and how my data was being used – how long would it take to provide this information? Would I be able to correct my information? How many of your analysts can view my personal data and how many copies have you distributed in your IT landscape? Are these copies even accurate?
Through our data quality, data mastering and data masking tools, Informatica can deliver a coordinated approach to managing your customer’s personal data and build trust by ensuring the safety and accuracy of that data. With Informatica managing your customer’s data, your internal team can focus their attention on analytics. Analytics from accurate data can help develop the customer loyalty and engagement that is vital to both the future security of your business and continued collection of accurate data to feed your Big Data analysis.
[i] The Trust Advantage: How to Win with Big Data; bcg.perspectives November 2013
For years, a customer’s purchase process was something of “An Unexpected Journey.” Lack of insight into the journey was a struggle for retailers. The journey was fraught with questions about product research habits, purchases and crucial factors that spark purchase decisions.
Today, the customer purchase journey no longer has to be a “guessing game.” Data integration and analytics are able to assist retailers in understanding this journey. To begin, let’s examine how consumer behaviors and the role of product information have changed since the advent of substantial bandwidths and social buying. To do so, lets examine the way shoppers buy today.
The customer buying experience has changed in the following ways:
The days of the single visit to a trusted retailer are behind us. Today’s shoppers are in control. They are hugely aware of their power as consumers, and they’re exercising it freely.
Buyers aren’t using one specific channel anymore. They’re shopping in stores, online, through mobile apps, on social platforms, and from catalogs simultaneously. Lacking a central focal point, quality data integration and analytics have become imperative to understanding this behavior. Retailers must be able to track the purchase decisions of one consumer as he or she switches back and forth amongst these channels. If done correctly, a retailer would be able to recognize behavior specific to individuals and act on it, serving ads or timely discounts to them.
Purchasing decisions are “crowd-informed.” Recommendations and reviews from peers guide consumers and validate their choices every step of the way. As a result, it has become increasingly necessary for retailers to understand how they are being reviewed. But more specifically, it is important for the retailer to identify and target influential reviewers. If this is done effectively, the retailer may be able to personalize their experience and make that influential consumer feel special. This may seem like a complicated task with small returns, but imagine if they write a positive review that is ultimately read by thousands of people. This could lead to a fantastic return on investment for the retailer.
Shoppers used to be dependent on a few sources of information. Now with Internet search tools, consumers are able to hunt for answers themselves. As such, retailers must understand what type of information their consumers are searching for. With this information, retailers may be able to update the content on their websites, blogs, or social channels to provide information customers need. To visualize this purchase journey we’ve created the INFAgraphic below.
So how can I learn more?
Join us at Informatica World 2014 to learn rich information about retail technology and the “purchase journey.”
Experts will share ways of leveraging your data to boost sales and heighten customer experience. The conference also has a dedicated MDM Day on Monday May 12 with workshops and sessions showing how vendors, distributors, retailers and individuals interact in the “always-on,” connected world.
Reserve your spot by signing up here.
This year, over one dozen healthcare leaders will share their knowledge on data driven insights at Informatica World 2014. These will be included in six tracks and over 100 breakout sessions during the conference. We are only five weeks away and I am excited that the healthcare path has grown 220% from 2013!
Join us for these healthcare sessions:
- Moving From Vision to Reality at UPMC : Structuring a Data Integration and Analytics Program: University of Pittsburgh Medical Center (UPMC) partnered with Informatica IPS to establish enterprise analytics as a core organizational competency through an Integration Competency Center engagement. Join IPS and UPMC to learn more.
- HIPAA Validation for Eligibility and Claims Status in Real Time: Healthcare reform requires healthcare payers to exchange and process HIPAA messages in less time with greater accuracy. Learn how HealthNet tackled this challenge.
- Application Retirement for Healthcare ROI : Dallas Children’s Hospital needed to retire outdated operating systems, hardware, and applications while retaining access to their legacy data for compliance purposes. Learn why application retirement is critical to the healthcare industry, how Dallas Children’s selected which applications to retire and the healthcare specific functionality that Informatica is delivering.
- UPMC’s story of implementing a Multi-Domain MDM healthcare solution in support of Data Governance : This presentation will unfold the UPMC story of implementing a Multi-Domain MDM healthcare solution as part of an overall enterprise analytics / data warehousing effort. MDM is a vital part of the overall architecture needed to support UPMC’s efforts to improve the quality of patient care and help create methods for personalized medicine. Today, the leading MDM solution developer will discuss how the team put together the roadmap, worked with domain specific workgroups, created the trust matrix and share his lessons learned. He will also share what they have planned for their consolidated and trusted Patient, Provider and Facility master data in this changing healthcare industry. This will also explain how the MDM program fits into the ICC (Integration Competency Center) currently implemented at UPMC.
- Enterprise Codeset Repositories for Healthcare: Controlling the Chaos: Learn the benefit of a centralized storage point to govern and manage codes (ICD-9/10, CPT, HCPCS, DRG, SNOMED, Revenue, TOS, POS, Service Category, etc.), mappings and artifacts that reference codes.
- Christus Health Roadmap to Data Driven Healthcare : To organize information and effectively deliver services in a hypercompetitive market, healthcare organizations must deliver data in an accurate, timely, efficient way while ensuring its clarity. Learn how CHRISTUS Health is developing and pursuing its vision for data management, including lessons adopted from other industries and the business case used to fund data management as a strategic initiative.
- Business Value of Data Quality : This customer panel will address why data quality is a business imperative which significantly affects business success.
- MD Anderson – Foster Business and IT Collaboration to Reveal Data Insights with Informatica: Is your integration team intimidated by the new Informatica 9.6 tools? Do your analysts and business users require faster access to data and answers about where data comes from. If so, this session is a must attend.
- The Many Faces of the Healthcare Customer : In the healthcare industry, the customer paying for services (individuals, insurers, employers, the government) is not necessarily the decision-influencer (physicians) or even the patient — and the provider comes in just as many varieties. Learn how, Quest, the world’s leading provider of diagnostic information leverages master data management to resolve the chaos of serving 130M+ patients, 1200+ payers, and almost half of all US physicians and hospitals.
- Lessons in Healthcare Enterprise Information Management from St. Joseph Health and Sutter Health St. Joseph : Health created a business case for enterprise information management, then built a future-proofed strategy and architecture to unlock, share, and use data. Sutter Health engaged the business, established a governance structure, and freed data from silos for better organizational performance and efficiency. Come hear these leading health systems share their best practices and lessons learned in making data-driven care a reality.
- Navinet, Inc and Informatica – Delivering Network Intelligence, The Value to the Payer, Provider and Patient: Today, healthcare payers and providers must share information in unprecedented ways to reduce redundancy, cut costs, coordinate care, and drive positive outcomes. Learn how NaviNet’s vision of a “smart” communications network combines Big Data and network intelligence to share proactive real-time information between insurers and providers.
- Providence Health Services takes a progressive approach to automating ETL development and documentation: A newly organized team of BI Generalists, most of whom have no ETL experience and even fewer with Informatica skills, were tasked with Informatica development when Providence migrated from Microsoft SSIS to Informatica. Learn how the team relied on Informatica to alleviate the burden of low value tasks.
- Using IDE for Data On-boarding Framework at HMS : HMS’s core business is to onboard large amounts of external data that arrive in different formats. HMS developed a framework using IDE to standardize the on-boarding process. This tool can be used by non-IT analysts and provides standard profiling reports and reusable mapping “templates” which has improved the hand-off to IT and significantly reduced misinterpretations and errors.
Additionally, this year’s attendees are invited to:
- Over 100 breakout sessions: Customers from other industries, including financial services, insurance, retail, manufacturing, oil and gas will share their data driven stories.
- Healthcare networking reception on Wednesday, May 14th: Join your healthcare peers and Informatica’s healthcare team on Wednesday from 6-7:30pm in the Vesper bar of the Cosmopolitan Resort for a private Healthcare networking reception. Come and hear firsthand how others are achieving a competitive advantage by maximizing return on data while enjoying hors d’oeuvres and cocktails.
- Data Driven Healthcare Roundtable Breakfast on Wednesday, May 14th. Customer led roundtable discussion.
- Personal meetings: Since most of the Informatica team will be in attendance, this is a great opportunity to meet face to face with Informatica’s product, services and solution teams.
- Informatica Pavilion and Partner Expo: Interact with the latest Informatica and our partners provide.
- An expanded “Hands-on-Lab”: Learn from real-life case studies and talk to experts about your unique environment.
The Healthcare industry is facing extraordinary changes and uncertainty — both from a business and a technology perspective. Join us to learn about key drivers for change and innovative uses of data technology solutions to discover sources for operational and process improvement. There is still time to Register now!
We are happy to announce many opportunities to add to your MDM knowledge at this year’s Informatica World Conference in Las Vegas, Nevada. The conference will run between May 13-15 and will feature many MDM sessions within the conference agenda and a pre-conference MDM Day on May 12th focused solely on MDM and PIM sessions.
May 12: MDM Day, “Driving Value from Business-Critical Information”
After the overwhelming response to our New York MDM Day in February – we are hosting a pre-conference MDM Day with a laser focus on MDM and PIM. Attendance is free when you register for the full Informatica World Conference. This Day features more than 20 sessions to choose from and provides a chance to learn from experts such as St. Jude Medical, Citrix, and Quintiles, and network with various companies that apply MDM and PIM solutions. We’ll host an “Ask the Experts” table with systems integration partners and present Informatica best practices and product roadmaps.
What: MDM Day – Driving Value from Business-Critical Information
When: Pre-Conference, May 12th, 9:00 AM – 5:00 PM
Where: Cosmopolitan Hotel, Las Vegas
How: Sign Up Here for MDM Day (free with full conference registration)
May 13-15: 2014 Informatica World Conference – MDM Sessions
As the industry evolves, Informatica takes great effort to share our successes and bring our customers together to discuss their experiences in putting data strategies to work. This year, there will be more than a dozen sessions on MDM at the main conference, including:
- Scaling MDM to Enterprise Size: Lessons Learned from HP’s Ginormous Volume (HP)
- Operational Insight for MDM (Zurich American Insurance)
- Increasing Revenue and Retention in M&A (AutoTrader)
- Using MDM to Build a Complex Solution for Dynamic Business (Thomson Reuters)
- Two Distinct Best-in-Class MDM Implementations (McAfee-Intel Security and PwC)
Be sure to attend these and more to learn how industries from healthcare to retail are applying Informatica technologies to fit their objectives for data integration and management.
What: Informatica World Conference
When: May 13- 15th 2014
Where: Cosmopolitan Hotel, Las Vegas
How: Register Today!
Register today for the Informatica World Conference and make the most of your trip to Las Vegas with a free pre-conference MDM Day. Learn more about both events online, or contact me if you have any questions. See you in Vegas!
Recently, I ordered a pair of athletic pants from a high-fashion, online retailer. The pants were a well-known brand and cost $96.00. The package arrived within a few days. However, when I opened the box, I found it did not contain the product I expected. The brand and color were correct, but it was not the style I’d chosen. Disappointed, I wrote the retailer, explaining the issue and requesting the correct product. Then, I returned the incorrect product.
According to recent research, the average vendor’s “cost per return” is $20.00. That means that my return was a Margin Killer for the retailer.
Three days later, the replacement delivery arrived. Whoop there it is… Disappointment number two. It was the exact same incorrect product. Yet another Margin Killer, Return Number 2. Another $20.00 in costs for the retailer. What would it take for this retailer’s logistic team to avoid repeating their error? Could they scan the product? Could they use a QR code, a bar-code or some sort of picture?
I returned the incorrect product for the second time. Eventually, shipment number three reached my home. Can you guess what was in the box? Yes, the same incorrect product, again, for the third time. The Margin Killer: Return Number 3. For this retailer, the math is simple:
Return 1: $20.00
Return 2: $20.00
Return 3: $20.00
Total return cost: $60.00
Revenue = Possibly zero?
Funky side note: When browsing stores downtown on Saturday, I found the correct pants in a SportScheck store, and for ten dollars less! So remember, the modern customer is demanding, always-connected and shopping on an “Informed Purchase Journey”.
So how can I learn more?
If you work in retail technology, you will find rich information about this purchase journey at the Informatica World 2014 conference. The Retail Path track will feature insights from companies like Nike, Avent, Discount Tire, Nordstrom, Geiger, Intricity and Deloitte. Experts will share ways to leverage your data to boost your sales and heighten customer experience. The conference even has a dedicated MDM Day on Monday May 12 with workshops and sessions showing how vendors, distributors, retailers and individuals interact in the “always-on” connected world. Make sure you have a spot by signing up HERE.
Today, it is not uncommon for retailers to have multiple brands and several channels through which they sell their products. Due to changes in social behavior, consumers are demanding retailers provide relevant and interactive experiences at every touch point.
The Retail Path at Informatica World 14 is your chance to engage with the world’s leading retail brands and industry experts. The retail path covers topics such as expanding product assortment, introducing new products and reducing supply chain costs. It will focus on driving customer loyalty using social, local, mobile and customer feedback. You will learn about unique customer experiences with relevant information, analytics and relationships between data and people.
These sessions are great for leaders in ecommerce, marketing, supply chain retail and product management. They’ll be held during the MDM pre-conference (May 12) and Informatica World Retail Path (May 13-15).
SNEAK PREVIEW OF RETAIL PATH SESSIONS, MAY 13th
NIKE: Creative Uses of Informatica Data Quality and Data Services Nike has pushed the limits of Informatica Data Quality and Data Services by re-imagining uses for reference tables, scorecards with associated metadata, web services, and more. Learn how Nike adds value to its business customers and increases ROI by adding virtualization through data services. Speakers: Teresa Mains, Corbett Oliver, Udaya Vepakomma
Point of Sale: Retrieving your POS data in Near Real TimRetailers know that capturing Point of Sale (POS) data in a timely manner can drive customer loyalty and merchandising efficiencies. In this session, Intricity shares how the powerful Informatica Platform has enabled it to capture POS data in near real time — enabling its retailers to share brick and mortar inventory with web stores, drive intraday targeted marketing, and provide customers with the convenience of in-store pickups. Speaker: Arkady Kleyner
Nordstrom: Customer Service at its best – How Information Powers Nordstrom’s Customer Centricity Strategy
Known for its quality products and customer service, Nordstrom never stops innovating. Learn how Nordstrom uses “personal book” to drive revenue through customer personalization. Speakers: Vaidyanathan Seshan; Gopinath Raghavan
Avnet: Using Informatica B2B Data Exchange and B2B Data Transformation to Expand Your Trading Partner Portfolio
Business to Business (B2B) transaction automation is pursued by companies of all sizes due to the efficiencies and message integrity inherent to transactional automation. This session will explain how Avnet’s use of Informatica B2B Data Exchange and Data Transformation empowered its business to establish B2B integrations with small and medium size trading partners. Speakers: David Crowell, Anthony Daniel
SNEAK PREVIEW OF PRE-CONFERENCE MDM DAY, MAY 12th
Keynote: Deloitte’s Digital Influence - The New Digital Divide
The growing gap between the needs and expectations of shoppers and the digital experience brands and retailers are offering them.
Speaker: Jeff Simpson, Director, Deloitte
Best Practice: Transforming your business for tomorrow’s commerce – best practice with product information management
Geiger is the largest privately held promotional products distributor in the world and is the only distributor ranked in the “Top 10” for the last 30 straight years. In this energetic information-packed session, “The Selling CIO”, Dale Denham will talk about the role of product information in ecommerce and how it improved Geiger’s ability to promote and sell promotional products. Attendees will learn how to achieve business goals by identifying the critical steps involved in implementing a Product Information Management (PIM) system. Additionally, this session will cover how to use data and technology to support agility in sales and marketing operations.
Speaker: Dale Denham, CIO, Geiger
Panel discussion with sponsoring partners and speaking customers:
The global digital revolution: How vendors, distributors, retailers and individuals interact in the always on and connected world.
Moderator: Ben Rund, Sr. Director Product Marketing PIM & Procurement, Informatica
Innovations Connecting Buyers and Suppliers – What’s new in PIM and Procurement, Roadmap
Speakers: Stefan Reinhardt, Product Manager PIM, Jakki Geiger, Sr. Director Product Marketing MDM
Holistic Data Governance: A Framework for Competitive Advantage
Speaker: Rob Karel, VP Marketing & Strategy MDM
Four high value workshops, presented by domain experts and industry specialists:
- Workshop “Future of commerce use cases”: How recommendation, targeting, ecommerce, social and mobile need to leverage product information. Moderators: Nagesh Kanumury, Principle Product Manager & Rich Dase, Ideosity
- Workshop “Business use cases of collaboration and Business Processes Management”: Product information and beyond. Moderators: Daniel Walter, Product Manager PIM & Nimish Mehta, LumenData
- Workshop “Why business users required quality data”: use cases, rules, roles, dashboards and important KPIs. Moderators: Stefan Reinhardt, Product Manager PIM & Matt Wienke, Infoverity
- Workshop “Connecting the dots”: Business use cases leveraging the relations of different master data. Commerce Relevancy: Customer segmentation and product personalization. Supplier spend management and supplier catalogs. Moderators: Markus Schuster, Sr. Director Product Management PIM & Procurement & Naveen Sharma, Cognizant
Save your chair at this high value pre-conference day by signing up HERE.
Please feel free to contact me (email@example.com, +1 650 385 5151) or Cathy Wright (firstname.lastname@example.org, +1 650 385 5151) if you have any questions, or if you would like us to consider additional topics for the agenda. We look forward to seeing you at the MDM Day meeting on 12th May in Las Vegas.
Last month, our MDM Day Conference in New York confirmed that data management is a hot topic. As many have sought additional knowledge regarding best practices, next month’s Gartner Enterprise Information & MDM Summit will provide great learning opportunities. As a sponsor, Informatica will host two sessions focused on MDM in action during this event from April 2nd – 4th in Las Vegas.
On Thursday, April 3rd, Informatica will present alongside one of our clients, AutoTrader. We’ll discuss AutoTrader’s successful integration of its auto dealers, OEMs, and ad agencies, through the use of multidomain MDM. As a result of this, AutoTrader increased revenue through cross-sell and upsell, and also improved customer service and retention rates through a 360-degree view of relationships.
You will learn how to architect a real-time operational MDM hub integrating multiple acquired companies, establish cross-functional data governance, and measure ongoing data quality. Lastly, we will discuss what worked and didn’t with business stakeholders and how to mitigate risk.
What: Increasing Revenue and Retention in M&A: AutoTraders’ Operational MDM Case Study
When: April 3rd, 10:15-11:15 AM
Where: Pallazo D, Venetian Hotel, Las Vegas
Later that afternoon, I will present “Hybrid MDM Architecture: Scaling On-premise MDM to Hybrid Cloud Hub-of-Hubs.” This presentation will cover how MDM implementations begin by solving the most pressing business problem in a single hub. While these implementations are mostly on premise, they can expand to another use case, domain, or region, and might evolve to another MDM hub within the cloud or in a different country. Whatever the journey is, the question is clear: How do you integrate different hubs in a hybrid or federated hub-of-hubs MDM architecture?
Come to this session to learn how certain leading companies are solving this conundrum.
What: Hybrid MDM Architecture: Scaling On-premise MDM to Hybrid Cloud Hub-of-Hubs
When: April 3rd, 1:15-1:35 PM
Where: Exhibit Floor, Theater Area, Venetian Hotel, Las Vegas
Experience is the best way to learn – but second-best is to learn from someone else’s experience. We look forward to seeing you at the Gartner Enterprise Information & MDM Summit on Thursday, April 3rd.
Register Here for the Gartner Conference.
Every company wants to see a “time to market improvement.” The wisest companies know this is only possible once you’ve mastered your internal data. One such company is Saint-Gobain, a Netherlands-based distributor of building materials. Saint-Gobain has accelerated and enhanced their customer’s multichannel experience using Informatica Product Information Management (PIM). Using Informatica PIM, Saint-Gobain has unleashed the potential of their information in the following ways:
- Ecommerce product introduction: Before using Informatica PIM, it took about one week to update a product to the website – now it is done within a few minutes.
- Everywhere commerce: The mobile app helps construction workers, on-site, to learn the details and stock availability of nearly 100,000 products and parts.
- Cross-selling: In addition to selling roof tiles, Saint-Gobain is also offering additional materials and tools as an up-sell.
- Retail stores: In addition to direct distribution, St. Gobain also sells through retailers. These specialty retailers need to create individual customer quotes which contain potential cross-sell and up-sell items. With Informatica PIM the retailers can create these custom quotes more effectively.
In the video below, Ron Kessels, Saint-Gobain’s Deputy Director of E-Business, talks about how they bring products to market more quickly while creating more opportunities for up-selling building supplies.
If you’d like to learn how your retail business can bring products to market more quickly, consider attending the Informatica World 2014 RETAIL PATH. This collection of sessions will show how to create unique customer experiences with relevant information, analytics, and relationships between data and people. In addition, the pre-conference MDM Day offers a track on “Omnichannel Commerce and Supplier Optimization”.