Key Business Processes in other domains and how they benefit from MDM
Your enterprise is unique. That’s how you maintain an edge against the competition. You certainly have master data that is standard within your industry and even across industries. But it’s just as sure that you have differentiated processes and different data in certain key areas. Master data management systems that began as purely customer-centric or product-centric software cannot handle other domains as cleanly. A truly multi-domain MDM solution can address your unique needs.
Below are just a few examples of business processes that depend on good, accurate and up-to-date data.
Intangible Asset Management
Do you own or manage intellectual property like media, books or even radio frequencies? These items may not be well-handled by the attributes and hierarchies of traditional PIM software. Modern multi-vector MDM handles these unique requirements in the data, and they also handle custom requirements in the related workflows.
Maximizing New Data
Is your company betting on social data, sensor data, or other types of IOT (Internet of Things) data to give you a competitive advantage?You’ll need the tools to master your customers effectively and the agility to manage products in a new way. Will that suffice? Will you manage social events? New metrics? Can you clearly predict the direction that the IoT will lead you? If not, then you’ll need the flexibility to master whatever business objects need to be shared throughout the enterprise (that’s master data!) MDM can give you the flexibility to master whatever business objects need to be shared throughout the enterprise.
Are Key Performance Indicators (KPIs) important to your business?Are the metrics providing key insights? KPI’s can help ensure a successful program, but only if your KPIs are providing a true representation of the businessprocess.Many times KPI development is a bottoms-up, technical approach which is not aligned with the business.Having the freedom to define business-driven KPIs independent of the data.With a good MDM system you can leverage any domain and use rules to map business outcomes to any data independent of its structure.
These are just a few examples of business process that can be enhanced with an MDM solution.
Semarchy’s Evolutionary MDM™ solution gives you the power to model any data relationships and the flexibility create any workflow to support your existing processes. Traditional Product Information Management (PIM) and Customer Data Integration (CDI) platforms provide “best practices” that often requires changes to your existing systems. Our agile MDM methodology aligns with your existing processes without forcing you to adapt.