Tag Archives: multidomain mdm
Top 10 Similarities Shared By Master Data Management (MDM) Customers
What do our master data management(MDM) customers have in common? Regardless of industry, use case, region, or the type of information they are mastering, I’ve identified 10 key factors they have in common.
Carved Wax Crayons designed by Pete Goldlust
1) Company size is $500M+
2) Experiencing rapid company growth, likely due to mergers and acquisitions (more…)
Healthcare Providers Evolving Their Use of MDM
Having spoken with a number of healthcare providers at recent events including the Gartner MDM Summit, Informatica’s own MDM workshops and a variety of other meetings, I’ve noticed their use of MDM is evolving as of late. It’s clear that within the provider community, MDM is quickly maturing beyond a single virtual view of the patient using an Enterprise Master Patient Index (EMPI). (more…)
Cloud-Enabled MDM Comes of Age: Cognizant Delivers First SaaS Solution Built on Informatica MDM
The industry’s first cloud-based solution for master data management (MDM) has arrived, signaling the emergence of a new architectural model for MDM that can offer rapid time to deployment without substantial capital expenditures.
Cognizant, a leading provider of IT and consulting services, is rolling out a solution called Cognizant MDM-in-the-Cloud for Life Sciences. Built using Informatica MDM at the core technology, it’s designed to help pharmaceutical and medical device companies to realize a complete, accurate view of monetary gifts and in-kind transfers made to physicians, including gifts, entertainment, consulting fees, meals, research funding, and more.
Do You Trust Your Data?
Recently I was talking to a prospective customer who shared some challenges they faced recently– they had asked five people for a report and had gotten five different answers. Unfortunately, this is not an uncommon situation. In fact, at times it seems as though making business decisions and managing business processes is a bit like using an “origami fortune teller” — you hope you get the right answer, but you’re really leaving your fate to chance.
Are Line Of Business (LOB) Executives Involved In MDM Or Is It Mostly An IT Initiative?
In recent conversations, I’ve been asked whether line of business executives are getting involved in master data management (MDM), or whether MDM is still mostly an IT initiative.
Attract & Retain Customers with Informatica Customer Centricity Solution (with MDM at the core)
From our experience at Informatica, the business is absolutely involved! In fact, it’s often a high-impact business event that triggers the alarm that a company needs MDM and data quality to deliver trusted and complete data. Many times, the root cause of these business problems is inconsistent, incomplete and duplicated customer data. Two examples:
1) An $8 billion technology manufacturer implemented Informatica MDM after its IT team couldn’t quickly and accurately respond to an executive’s request for a list of the company’s top 400 B2B customers. It took IT six weeks to assemble the information because it was scattered across applications, and many large customers had complex hierarchies with multiple subsidiaries that all had to be reconciled by hand. Next step, focus on the next 400 customers. (more…)
Are You Building The Right Foundation For CRM 2.0? Bridge Your Data Silos With MDM
Improving your company’s ability to attract and retain customers requires that you take your customer relationship management (CRM) system to the next level of effectiveness—regardless of whether it’s a Software-as-a-Service (SaaS) application like salesforce.com or on-premise such as Siebel CRM or a custom-built application. (more…)
MDM-Embarking on CRM 2.0? Then You Know It’s All About The Data
Arguably the top lesson of CRM 1.0 was simply this—data matters. Though CRM 1.0 promised to deliver a 360-degree customer view, untold numbers of multimillion-dollar CRM systems fell short of expectations because they failed to address the incomplete, incorrect, inconsistent and duplicate data that proliferated across the enterprise.
Acquire & Retain Customers with Trusted & Complete Customer Data
Now companies are moving to CRM 2.0, in many cases to the cloud with salesforce.com or another software as a service (SaaS) provider. And this time, determined to get the data right, many businesses are looking to master data management (MDM) and data quality to generate a true 360-degree customer view. (more…)
MDM In Action: A New Demo On Customer Account & Channel Partner Management
One of the hottest areas of master data management (MDM) is using high quality master data to drive revenue by supporting sales and channel operations. Informatica customers have racked up some terrific successes using MDM to generate a single, reliable view of customer and account information—and here’s a key reason why.
Acquire & Retain Customers with Trusted & Complete Customer Data
With Informatica MDM and Informatica Data Quality, sales and channel personnel gain hands-on control of customer data, product data and channel partner data and the relationships between this data. Those customer-facing teams no longer need to spend most of their time hunting for information in the CRM system, SFA system, billing system, partner management and other systems and reconciling it in spreadsheets. And they don’t need to wait on IT to round up and deliver the data they need right away.
If you’re wondering how this works, check out our six-minute how-to demo on MDM for customer account and channel partner management. This new demo offers a practical, step-by-step walk-through of how a sales, marketing and channel operations personnel can evolve from trying to sort through the clutter of contradictory data from multiple systems to leveraging a single, actionable customer account data set that powers a 360-degree customer view in their CRM system so they can improve customer acquisition and retention.
Inaugural Gartner MDM Summit In London A Major Hit
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. (more…)
How Banks Can Use MDM To Increase Customer Share of Wallet
If you mention master data management (MDM) to sales, marketing or customer service personnel in a bank, their eyes might glaze over. After all, MDM sounds like something for the IT folks to worry about—not something that can help customer-facing staff and managers do their jobs better.
Acquire & Retain Customers with Trusted & Complete Customer Data
But show them this new online demo on the business benefits of MDM, and you’d get a different reaction … quite possibly, “When can we have this up and running?”
This six-minute business-focused demo, Customer Centricity in Financial Services, gives you a step-by-step look at how sales, marketing and customer service in the banking industry can use Informatica MDM and Informatica Data Quality, to get a single view of each customer (also known as the single customer view), including which products and services they are using, and customer relationships (also known as house-holding). This information helps customer-facing employees improve customer acquisition and retention by identifying relevant cross-sell and up-sell opportunities to increase customer share of wallet, and by delivering better customer service because they have visibility into a customer’s full relationship with the bank. (And, it helps IT maximize the value of their customer relationship management (CRM) investment). This demo shows how easy it is to create three levels of customer views:
1) Single customer view: Creating golden records by reconciling names, addresses, emails, phone numbers, and other data from disparate sources for a single view of a customer.
2) 360-degree customer view: Expanding the single customer view to include the customer’s products across lines of business (checking, mortgage, IRA, car loan, etc.)
3) Extended customer view: Expanding the 360-degree customer view to reflect the customer’s network of people, business, and product relationships and help customer teams pursue long-term, multigenerational value. (more…)