Tag Archives: Single version of the truth
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…)
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…)
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…)
The CEO of a global technology products manufacturer had a simple question: “I need a list of our top 400 global customers by revenue—immediately.”
The boss got his answer—six weeks later.
That’s how long it took the company’s IT team to root through disparate applications, engage data owners in various business units and geographies, and manually reconcile granular data to answer a basic question that bears directly on the bottom line.
It’s a true story, and one with a happy ending. This multibillion-dollar company implemented Informatica MDM for multidomain master data management (MDM). It exploited the solution’s capabilities and followed best practices in aggressively tackling business-critical data challenges.