Tuesday, March 28, 2017
Profisee Master Data Management Blog
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Operational MDM in Action

Profisee continues to see a growing emphasis on operational master data management (MDM) among their customer implementations. While represented industries range from healthcare, to oil and gas, to specialty retail, these implementations focus on taking enterprise data management from IT-driven data warehousing initiatives to an enabling platform for operational decision making.

Many companies have broadened existing MDM implementations from managing reference data to mastering their more dynamic customer and product data domains. One specialty retailer is taking it even further, building an MDM solution to measure the success of their various digital marketing campaigns, helping them measure how effective a campaign has actually been, given the budget spent, the geographic location of the promotion, and the digital platforms (such as Twitter and Facebook) actually used. Another company, in the association management space, is working on delivering the benefits of their MDM implementation directly to the consumer, first creating a data management portal for vendors that work with various community associations, ensuring a current and accurate master list of vendors; and then using the information to create portals that present association-approved vendors to homeowners, enabling them to obtain services from the vendors directly. With MDM-enabled portals, the vendors can ensure their data is accurate across all association systems, and the various associations can be sure they are providing accurate, current information about approved vendors to association members.

Many of these new operational MDM implementations focus on the companies’ customers, which take a variety of forms, depending on the industry. For healthcare, it may be patients; one healthcare services company that operates a wide variety of facilities across the United States is turning to MDM to integrate their many acquired and legacy facilities applications and data, seeking to gain a better understanding of where their business is coming from, matching the patient referrals that come in from their many hospitals and providers.

In some cases, MDM is being used to help identify who the “real” customer is. For one leading financial institution, the customer is a borrower, and the goal is to control credit risk. This firm is turning to MDM to better assess who it is they are lending money to, by developing a single view of their lendees, which may be businesses operating in multiple locations. Similarly, a global media company seeks to streamline their credit operations and get a better picture of the total revenue opportunity represented by large corporate advertisers with whom they may be doing business at both the local and corporate levels.

Other companies that are embracing or improving customer relationship management (CRM) solutions find they can increase the value of their CRM investments by using MDM to synchronize customer data in their CRM systems with customer-related data in other enterprise systems. This creates a single, “true” enterprise view of the customer that enables companies to more readily engineer a profitable, high-satisfaction customer experience. One direct marketer of technology products has a wide variety of customer types that are reached through a number of disparate sales channels. This company used MDM to clean up their complex customer listings prior to beginning a new CRM implementation. For another company, a technology products manufacturer, MDM is the key to managing their price book within their CRM system.

In the complexity of today’s business environment, with its proliferation of mergers and acquisitions, multifaceted supply chains, and intricate customer identities and relationships, MDM is emerging as a key operational tool, consolidating and organizing data into actionable information. Further, it is boosting the value of enterprise initiatives such as digital marketing, CRM and risk management, by integrating and synchronizing the systems and data that support them. Looking ahead, we predict a rising trend in the development of workflow-enabled user interfaces that will further operationalize MDM across the enterprise.

 

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