Details
From customers and products, to employees and locations, the demand for master data management has hit an all-time high. Managing golden records of your most important data is critical for more accurate and timely data & analytics, operational efficiencies, and risk mitigation – but how do you scale to address these competing use cases?
In this webinar you will hear and see the key capabilities that will drive greater economies of scale in a master data management solutions. Takeaways will include:
- Key trends that are driving new MDM use cases
- Considerations to improve your business case
- Demonstration of mastering employing employee, vendor, and product in the same solution
Speakers
Post-event summary
The webinar titled “3 Keys to Driving Economies of Scale when Mastering Your Data” hosted by EDM Council and Precisely, explored the critical role of master data management (MDM) in achieving operational efficiencies, enhancing customer experiences, and ensuring compliance. The webinar was led by industry experts:
- Sue Pawlak, Director, Product Marketing, Precisely
- Sachin Bapat, Vice President, Value Engineering & Business Architecture, Precisely
- Moderator: Mike Meriton, Co-Founder, EDM Council
Sue highlighted the importance of multi-domain MDM, emphasizing its ability to harmonize data from various sources into a single repository. This consolidation not only reduces operational costs but also accelerates time-to-market for products and services. Sue pointed out, “Master data is not just about managing the data. It’s about transforming data into a strategic asset.”
Sachin provided real-world examples from the telecommunications, energy, and consumer product goods sectors, demonstrating how MDM solutions can address challenges like inconsistent data and improve customer service and operational efficiencies. For instance, a regional telecom company implemented a multi-domain MDM solution to manage location data, resulting in improved customer service and operational cost reductions.
The panelists stressed starting small with high-value, low-effort projects and scaling up as the benefits become evident. They also discussed the significant impact of AI and predictive analytics on MDM, with AI-driven features helping to anticipate and correct data input errors, thus enhancing the overall data quality.
The session concluded with insights into Precisely’s data integrity suite, which integrates data from various sources, ensuring its quality and enriching it for optimal use. The presenters emphasized the importance of a comprehensive data integrity journey, supported by strategic partnerships and robust business cases to drive successful MDM implementations.