So, 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. You have a Customer Data Integration or CDI solution that was purpose-built just for managing customer data. Then you had the PIM side which was Product Information Management that was focused purely on managing information about products. A lot of organizations would go out, buy a CDI solution, a PIM solution, and then they might go out to buy other smaller solutions that are purpose-built for industry-specific domains, it’s much more of a best of breed by domain environment. The trend of the last 10 years has been for vendors to move towards this concept of Multi-Domain MDMs. This is something that’s generally embraced by industry analysts, by vendors, as well as customers, and what everybody is looking for is one platform they can use to implement any domain that they need to within their enterprise, using one set of tools and technologies.
Multi-Domain and Domain Overview:
There are some definite benefits to this. The first one is that one of the goals of MDM is to drive stewardship out into the business. So get IT out of the business of fixing and correcting data and enable the business to do that themselves. If you’re able to implement a Multi-Domain solution using one platform, all your data stewards regardless of which domain they’re actually managing, can do that through one common user experience. It makes things more approachable, reduces the cost and complexity of training. It allows you to really scale the solution out to a larger audience. There is also a smaller technology footprint, so you only have to learn one set of tools and technologies, one platform to deliver, so it makes it easier for a given team to have full knowledge of the right way to do things, and the best practices for a given platform. Whereas if you have multiple platforms, there’s obviously much more to learn, understand, and a higher likelihood of things being done not following best practices.
The other benefit is we talked a little bit about reference data. Reference data is oftentimes shared across domains. So, one example could be a list of languages, and you could have in the product domain, a need to describe product descriptions in different languages. So, language becomes the reference data element that helps describe product descriptions. Likewise, you could have for the customer domain, the need to store the native language of that customer that they do business in. If you have one Multi-Domain platform, you can maintain a single list of languages as a reference data set and leverage it across both of those domains more easily. The net effect of all this is, if you can go with a Multi-Domain MDM platform, we’re able to deliver lower total cost of ownership because you’re able to get some tailwind as far as understanding the technology, data stewards being able to grasp it more easily because they have one tool to learn, and that yields a higher return on your overall investment.
The Profisee MDM platform provides exactly what we are looking for."
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