May 30, 2018
Master data management is the combination of people, process, and technology for centralizing and maintaining your master data. The key here is, it's not just the technology. Obviously, we are a software company and we deliver a technology in the form of software, but when you're implementing MDM, you have to consider that it's not just the purchasing of a platform to implement, but also getting the right people involved and defining the business processes that you need to solve, and then applyi...
May 23, 2018
Domains are really kind of the big level blocks that we use to define master data. We have some example categories of domains. So, one common domain a lot of people look to manage within the MDM is customer domain. Customers could be individuals, they could be individual people, consumers if you will. They can also be businesses as well that use. So, depending on whether you're a B2B or B2C organization, but then there's other flavors of customer or unity type domains that are out there.
May 16, 2018
The next concept is Multi-Domain MDM. This is really where over the past, 5 to 10 years, most vendors are turning towards. In the past, you had a lot of MDM solutions that were purpose-built for a single domain. But the times are a changing, see how.
May 09, 2018
The next concept is reference data which is really just master data. But it's a little different from some of your big complex core domains. So, reference data's typically just your simple list that you use to describe things, and most of your operational applications will already have reference data embedded in them, the simple example, the list of languages I just used. Your CRM and ERP applications both might have their own list of languages that obviously have overlapped. They probably both ...
Dec 18, 2017
CRM solutions are advertised to provide a single source of truth for customer information. So why do I STILL need a data management strategy when implementing or migrating my CRM solution?
Nov 20, 2017
Customers often wonder why some organizations are able to get budget approval for their data management initiatives quickly, while others struggle to get funding. While they know there is a business need, they struggle to get buy-in, leading to a lengthy debate where the decision in some cases is to do nothing.
Oct 02, 2017
Master Data Management (MDM) is a two part data management strategy applicable to organizations of every size in every industry. MDM includes the information definitions, business rules, and processes to provide and maintain consistent and accurate sets of master data, enabled by data management technology.Does IT facilitate the business in delivering an MDM solution? Yes.Can IT successfully deliver an MDM solution without a business need/sponsor? No.
Sep 18, 2017
When it comes to any successful master data management project, people matter. Given that MDM is a relatively new function, most organizations aren’t sure what resources and roles need to be created or designated to make the solution successful.
Sep 04, 2017
Master Data Management is two part data management strategy used by organizations of every size in every industry. It includes specific business processes combined with the technical infrastructure required to provide and maintain consistent and accurate sets of master data.Sometimes, we vendors in the data management world can make the easy complicated.But master data is important to everyone NO MATTER the size of your organization.
May 30, 2017
In the business world, you often hear references to the "Total Lifetime Value of a Customer," the meaning of which sometimes varies. One permutation of lifetime value is calculated on an aggregate basis across all of your customers, answering the question, "What is the average value of a newly obtained customer?" The Aggregate Lifetime Value can be calculated based on simple financial metrics including revenue, profit, and customer retention. Refer to en.wikipedia.org/wiki/Customer_lifetime_valu...