Tag Archives: mdm solution
Our customer executives delivered some inspiring presentations at our recent Informatica World conference on how master data management (MDM) is enabling strategic business imperatives such as increasing revenue by making more relevant cross-sell offers, improving regulatory compliance with more effective reporting, and streamlining key business processes such as order-to-cash to improve the customer experience. A big thank you to all the presenters for sharing their stories!
These innovative companies are using MDM to better leverage their business-critical data about customers, products, channel partners, suppliers, employees and so on to do two things: 1) enable strategic imperatives or 2) solve pressing business problems. If you were at Informatica World this year, but were unable to attend these MDM customer sessions, you can get access to the presentations online by searching for these titles. (more…)
If you’ve wondered exactly what type of impact master data management (MDM) can have on improving B2B sales here’s a terrific opportunity to find out first hand!
I’m delighted to announce that Kodak, the multibillion-dollar global imaging company, will be joining us for a must-attend webinar on how it’s using a multidomain MDM solution to enable customer centricity and empowering its sales, marketing and customer service teams with access to a single customer view. (more…)
Are you planning to attend Informatica World 2010 next week?
If so, I invite you to hear these breakout session presentations from our master data management (MDM) customers, including:
- Johnson & Johnson’s Charles Bloodworth, IT Director, Medical Devices & Diagnostics;
- Merrill Lynch’s Sal Caruso, Director, Client & Account Data;
- St. Jude Medical’s Mike Striefel, Senior Manager, Enterprise Information Delivery, and
- GlaxoSmithKline’s Nipun Bhonsle, Manager, Strategy, Architecture & Information. (more…)
Retailers have long recognized the value of a single customer view, but the emergence of multichannel research and shopping has made achieving that ideal more difficult. Today’s consumers hopscotch across online, in-store, call center, social media, mobile, and other channels—how can retailers keep up?
If you have a single view of your retail customer, you can assess channel buying preferences and tailor marketing accordingly. You can deliver the personalized and consistent experience that discriminating consumers expect across all touchpoints. And you can take advantage of the unique cross-sell and up-sell opportunities that multichannel environments offer.
For instance, if Jane buys a $2,000 leather couch in a store and you can match her information to the email address she registered three months earlier at your Web site, you’re in a great position to pitch matching pillows with a personalized email.
But, as outlined in a new Informatica executive brief, siloed data systems for point of sale (POS), e-commerce, call centers, and more make it difficult for retailers to achieve a single customer view. The brief includes survey results from a leading research organization, including the following statistics:
- 92 percent of retailers don’t integrate customer data from all channels
- 68 percent of companies cite improving customer data integration as a top priority for 2010
- Less than 25 percent of retailers extend personalized loyalty programs across all channels
The devil, as they say, is in the detail. Your organization might have invested years of effort and millions of dollars in an enterprise data warehouse, but unless the data in it is accurate and free of contradiction, it can lead to misinformed business decisions and wasted IT resources.
We’re seeing an increasing number of organizations confront the issue of data quality in their data warehousing environments in efforts to sharpen business insights in a challenging economic climate. Many are turning to master data management (MDM) to address the devilish data details that can undermine the value of a data warehousing investment.
Consider this: Just 24 percent of data warehouses deliver “high value” to their organizations, according to a survey by The Data Warehousing Institute (TDWI). Twelve percent are low value and 64 percent are moderate value “but could deliver more,” TDWI’s report states. For many organizations, questionable data quality is the reason why data warehouses fall short of their potential. (more…)
A few months ago at the Gartner MDM Summit, I met the head of information management at MillerCoors. He recalled the challenges he faced in explaining to executives of America’s second-largest beer company why it needed master data management.
He came up with a pitch-perfect analogy.
“We make two things—beer and data,” he told executives. “We need to manage our product supply chain and our information supply chain equally efficiently.”
I love that quote because it underscores a truth in all industries—every business is an information business. Whether you make beer or diapers, automobiles or annuities, seamless integration of all information flowing through a company is key to meeting customer needs and gaining competitive advantage. (more…)
One of the most critical first steps for financial services firms looking to implement multidomain master data management (MDM) is to quantify the cost savings they could achieve.
Unfortunately, a thorough analysis of potential ROI is also one of the steps least followed (a key culprit being disconnects between business and IT).
This shortcoming is spotlighted in a new Informatica white paper, “Five Steps to Managing Reference Data More Effectively in Investment Banking,” which outlines key questions to ask in sizing up the cost implications of bad data and antiquated systems, such as:
- How long does it take to introduce a new security to trade?
- How many settlements need to be fixed manually?
- How many redundant data feeds does your firm have to manage?
- How accurate and complete are your end-of-day reports?
- Do you have the data you need to minimize risk and exposure? (more…)