The, What, Why, & How of MDM in Digital Business Transformation Slideshare
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MDM not only makes digital transformation possible, it optimizes the results of these efforts while reducing the risk of tactical and strategic failures. This webinar dives into the critical role that MDM plays in digital business transformation initiatives
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The, What, Why, & How of MDM in Digital Business Transformation Slideshare
- 1. 05_01_2005_01_20 THE WHAT, WHY, & HOW of MDM in Digital Business Transformation Strictly Confidential © 2019 Profisee Group, Inc. 1 Bill O’Kane Bill.OKane@profisee.com www.Profisee.com
- 2. 05_01_20 THE CRITICAL ROLE OF MDM 2Strictly Confidential © 2019 Profisee Group, Inc.
- 3. 05_01_20 “MDM NOT ONLY MAKES DIGITAL TRANSFORMATION POSSIBLE, IT OPTIMIZES THE RESULTS OF THESE EFFORTS WHILE REDUCING THE RISK OF FAILURES SUCH AS CUSTOMER ALIENATION AND LACK OF PRODUCT SEARCHABILITY. – BILL O’KANE 3Strictly Confidential © 2019 Profisee Group, Inc.
- 4. 05_01_20 4 Examples: Detection of duplicate data across all systems during customer on-boarding; Supporting multiple product taxonomies to increase website searchability WHAT Strictly Confidential © 2019 Profisee Group, Inc. 4 What exactly is digital business? Most organizations don’t know the answer. Regardless, trusted master data is key to the changes that will be need to be made to business operations and analytics. Digital business requires high quality, low latency master data (examples: customer data, product data) in order to succeed.
- 5. 05_01_20 Strictly Confidential © 2018 Profisee Group, Inc. 5 HOW MANY CUSTOMERS DO WE HAVE? ARE THESE TWO VENDORS THE SAME? HOW MUCH DO WE BUY FROM THIS SUPPLIER?
- 6. 05_01_20 WHAT 6Strictly Confidential © 2019 Profisee Group, Inc. What is Master Data? Most software systems have lists of data that are shared (logically and/or physically) and used by several of the applications that make up the system. This data tends to change slowly over time, not every time a transaction or interaction takes place. For example: A typical ERP system will have at the very least Customer Master, Item Master and Account Master data lists. This master data is often one of the key assets of a company. In fact, it’s not unusual for a company to be acquired primarily for access to its Customer Master data. The same company may have Customer Master data in a CRM system, and the CRM and ERP systems may or may not be integrated with each other.
- 7. 05_01_20 DATA MANAGEMENT SOLUTION SPACE Data Quality Data Profiling Deduplication Data Governance Data Glossary Data Catalog Policies Master Data Management Data Modeling Golden Record Management Data Stewardship Workflow Management Data Quality Rules Data Verification/ Standardization Innovation Tactical Customer Data Management Journey Strategic Customer Data Management Journey
- 8. 05_01_20 WHY 8Strictly Confidential © 2019 Profisee Group, Inc. The impact of digital transformation on your business processes The risk of these processes going horribly wrong without MDM • Current process enhancement • Things you already do, but sub-optimally • Example – credit risk assessment during customer on-boarding • New process • Things you can’t do at all • Example – cross/up-selling during customer on-boarding • Mistakenly rejecting or approving a customer for credit. • Attempting to sell a product the customer already owns or has rejected during past interactions. • Violating privacy preferences or regulations.
- 9. 05_01_20 9Strictly Confidential © 2018 Profisee Group, Inc. CATEGORIZATION OF BUSINESS BENEFITS How do you formulate, categorize, and prioritize business process and analytics changes? CurrentSuboptimalProcesses NetNewProcesses Cost Efficiency Revenue Enhancement Business / IT Collaboration IT-Driven Enhancements
- 10. 05_01_20 HOW 10Strictly Confidential © 2019 Profisee Group, Inc. How does MDM provide trusted data to digital business processes and analytics? • Semantic reconciliation models the true current and future business uses and definitions of customer, product, etc. in your organization. • Business application data models no longer dictate business definitions. MDM is often the first time the “real” business – both current and future – is accurately modeled from a data perspective. • Allows business/data quality rules to be rationalized based on the “new” master data model and enforced across all entry points. • Provides an interface or services layer to access trusted master data in near real time, allowing trusted data to be automatically communicated between systems.
- 11. 05_01_12 BI/DW SCMERP CRM Company: Crete Carrier Corp Contact: Deborah Varchie Email: deb@cretecarrier.com Credit Rating: CCC DUNS: Address: 800 Piedmont Ave Atlanta, GA 3030 Company: Creet Carrier Co Contact: Deborah Varchie Address: 12001 Buford Hwy Doraville, GA 30340 Company: Crete Carrier Corp Company: Creet Carrier Corp Company: Crete Carrier Co. Company: Crete Carrier Company: Creet Carrier Co Company: Creet Carrier Corp Contact: Deb Varchie Company: Crete Carrier Co. Contact:: Deborah Varchie Company: Crete Carrier Contact: Deborah Varchy HOW DOES MASTER DATA MANAGEMENT HELP? Company: Creet Carrier Corp Contact: Deborah Varchie Company: Creet Carrier Corp Contact: Deborah Varchie Email: deb@crete.com DUNS: 12-123-4567 Credit Rating: CCC Address: 800 Piedmont Ave Atlanta, GA 30308 Email: deb@crete.com DUNS: 12-123-4567 ERP CRM SCM BI/DWCRM ERP SCM Address: 800 Piedmont Ave Atlanta, GA 30308 BI/DW MDM Correct Enhance Connect Unify| | |
- 12. 05_01_20 HOW Strictly Confidential © 2019 Profisee Group, Inc. How does MDM enable enhanced and new business processes in support of digital business transformation? • Contains the trusted “golden record” of the customer’s master data, and references to the customer’s data across all operational systems. • Can facilitate trusted access to all master and transactional data about the customer in those systems. • Allows business rules to be automated and executed with low latency across boundaries that formerly required manual processes to be executed during or after the current operation, or not at all. MDM: BI/D W SCMERP CRM ERP CRM SCM BI/D W CRM ERP SCM BI/DW MD M
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- In business, things always seem simple on the surface. Take these questions for example, they all seem simple. But today, it's getting harder to get the information we need for even simple questions like these . Similarly, we all remember puzzles like this from our childhood. There's only 4 pieces, it's easy. Now, if this simple puzzle represents the information we need to answer one of these questions, Let's see why it's gotten so hard to solve.
- Here we have the Data Management Journey Quadrant. Every company or organization is in a different place in their Data Management journey. Let's look at what's different about the 10% of organizations that HAVE adopted a STRATEGIC approach to managing their data and the those that havaen't. One the left axis is MDM Viewpoint. Companies with a broad MDM Viewpoint understand that MDM can solve a wide array of data challenges. On the bottom is Business Engagement. Companies with high Business Engagement have business stakeholders who understand data management, the value it can deliver, and are bought in. The 10% of companies that have adopted MDM are mostly in the top right quadrant, called Strategic. Why is this, it's because they have been able to justify the traditional Massive Data Management projects, as well as, have both IT and the Business aligned on the business outcome of MDM. At the same time, every company we meet with would like to be able to do all of these things. Everyone would like better their data quality or to improve cross system integrations. What's stopping them? When faced with the prospect of a Massive Data Management project, which has traditionally been the only option imposed by MDM vendors, the smart ones, have done nothing. It's been too costly, too complex, and it takes too long to get the results needed for a fast moving, fast changing business. What does that mean for the rest of the 90%? Well, they're in a different phase on their data management journey. (THIS IS WHERE YOU CAN RELATE TO THE ROOM WITH SPECIFIC INFORMATION ABOUT THEIR STRATEGIC BUSINESS INITATIVE, OR PROJECT.) Some organizations have a broad vision for data management, but limited buy in for the business. They may have a CDO, CIO or other IT executive who sees numerous opportunities for data management to help the business, but are unable to get the business to buy-in. Other organizations have IT resources that see perhaps a single data management problem they'd like to quickly solve, but need an easy entry point so they can show some results. Organizations in the Searching quadrant have business users who are aware of data challenges, such as a CMO who know CRM is a mess, but aren't aware of data management as a solution to their problems. AGAIN, THIS IS AN OPPORTUNTY TO ENGAGE THE PROSPECT AND ASK WHERE THEY FEEL THEY ARE IN THEIR JOURNEY. Now let's take a look at how Profisee helps companies on this journey.
- DV Here is a picture of a typical enterprise. Let's look at Crete Carrier, one of their top customers. 1. Let's start with CRM. Here we find not one, but three different records for Crete Carrier. With MDM we can identify and Correct these duplicates, merging them together. 2. In our ERP, we're missing the DUNS number, and the address only has a 4 digit zip. With MDM, we can enrich this data, filling in the blank DUNS, and verifying the Address. 3. Next, in our Supply Chain system, the address is different from our ERP and incorrect. With MDM, we can Connect these systems, updating our SCM application with the new address from the ERP. Lastly, our BI/Data Warehouse. Since we are consolidating data across applications, it's a real mess, with all versions of Creet Carrier represented. With MDM now connecting these applications together, we can create a complete view of Crete Carrier, enabling more accurate and trusted analytics. With MDM, we are able to Correct, Enhance, and Connect data to support information driven initiatives. So why does this matter today? It seems obvious.