As businesses expand and the volume and variety and complexity of structured, unstructured and semi-structured big data increases relentlessly, it has become harder to create a consistent and accurate view of master data. Without the right Master Data Management (MDM) strategy, companies often fail to properly collect, store, and interpret business-critical information. What results is a disparate system that leads to poor customer engagement, reduction in supply chain efficiency, concealed risks, and interruption of multichannel product distribution. Additionally, MDM structures need to be "future-proofed," so that data scientists can leverage AI to its full potential and transform the business.
An effective MDM strategy allows your organization to reconcile data discrepancies across applications and platforms to keep momentum moving forward. In addition, by generating a single source of truth (SSOT) for customer, supplier, product, and other business-related data entities, your organization can:
Digital champions are staying hypercompetitive by using artificial intelligence, machine learning, and analytic tools to turn raw data into actionable information.
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Our MDM consultants can help you to develop a single, authoritative view of your business-critical data. We achieve this goal by automating the collection and storage of data from diverse sources, including sales, marketing, competitor data, and more.
First, our consultants determine the data storage solution based on the size and scope of your IT requirements. This can include on-site storage, public cloud, or hybrid infrastructure.
Once the master data is ingested into your new system, a self-service solution ensures employees can access the information required based on their role within the organization. Where appropriate, we will implement MDM analytics tools and services to scan the information, as well as provide customized insights that can help you grow your business. This is also where we future proof your MDM structures for AI initiatives.
Besides the direct analytics of your master data, our MDM strategy improves your data quality by eliminating bad or duplicate data for more efficient storage. In turn, this will cause a reduction in your financial costs and the time used to access and interact with said data.
Effective MDM strategies are built on a foundation of strong data governance principles that ensure data quality, compliance, and security.
Perhaps the most important reason that companies are seeking MDM services is to make sure they are up-to-date and compliant with laws and regulations that help protect customer data and safeguard company privacy.
A good master data management strategy will keep data governance at the heart of every business decision. This will help streamline necessary audits, make sure your enterprise meets disaster recovery requirements, and help avoid burdensome fines or penalties for failing to comply with regulations like GDPR, CCPA, PCI-DSS, and HIPAA.
At Trianz, we understand the importance of linking all data to a single point of reference. That is why we have partnered with Informatica — the world's No. 1 provider of data management solutions — so that we can better equip your organization to strategically manage and create single, authoritative views of your business-critical data.
By partnering with Informatica, we offer several consulting services to our clients, including:
Trianz successfully delivers MDM solutions to cleanse, standardize, enrich, and integrate core entities across multiple domains. Our services provide the MDM tools and governance required to ensure your master data remains consistent following implementation, and to facilitate expansion into other data domains.
We help you establish and reach targeted milestones on an MDM journey, breaking down the project into manageable phases to avoid a "boil the ocean" approach. With our dedicated MDM Center of Excellence, Trianz has effectively implemented MDM at Fortune 500 companies in large multi-year engagements, as well as in numerous smaller multi-domain MDM deployments.
Whether you are establishing a new Master Data Management solution, or modernizing an existing one, we know MDM is a significant undertaking. That is why we not only help organizations to update their data solutions, but also update policies and procedures so that your business will support new data governance standards.
At Trianz, we are here to help businesses create an environment that ensures data is properly collected, stored, and accessed far into the future. If you are ready to transform your business data from a necessary burden to a true financial asset, please contact us to schedule a consultation today.
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