Organizations today are critically reliant on data. However, as enterprise applications accumulate—often through digital transformation initiatives, new product launches, or mergers and acquisitions—business-critical data becomes increasingly siloed.
As a result, organizations struggle to gain a complete view of customers, products, business partners, or other data domains scattered across legacy systems, cloud, databases, and spreadsheets—typically featuring unique ways of defining, modeling, and recording master data. Working with a network of vendors and suppliers, each with their own array of applications and data systems only complicates the picture further. All of which inhibit an organization’s ability to realize value from their data.
Master Data Management (MDM) allows organizations to consolidate data from multiple sources to create a single source of truth that provides a holistic view of enterprise-wide information. Join this webinar to discover how multi-domain MDM can eliminate the guesswork and uncertainty that results from data gaps and inconsistencies, paving the way for new, powerful insights through cross-domain intelligence.
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How to achieve a single view of critical business data with MDM
1. How to achieve a single
view of critical business
data with MDM
2. Housekeeping
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To compete and thrive in
today’s digital economy….
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right, compliant, and available everywhere it’s needed—faster.
your core business data must be
6. DIGITAL
CORE
Critical business
data is more
dispersed than ever.
Customer
ecosystem
Product
ecosystem
Employee
ecosystem
Finance
ecosystem
Things
ecosystem
Vendor
ecosystem
API LAYER
BI, AI, DATA ANALYTICS
7. 47%
of newly created
data records
have at least one
critical error
68%
of organizations
say disparate data
negatively impacts
their organization
84%
of CEOs say that they
are concerned about the
integrity of the data they
are making decisions on
Data Trends Survey 2019 Forbes
HBR
A business imperative
8. A single source of truth for
common business data used
across systems.
Master Data
Management
Flexible data
model
Support for
multiple data
types
Open,
extensible
integration
framework
Configure
not code
approach
Workflow &
automation
Data
governance
quality &
stewardship
10. Consolidate data
DATA TARGETS
Systems Data lakes
Reports Databases
Data pools Apps
DATA SOURCES
Internal & external systems
Spreadsheets & docs
Databases
Third-party data services
People
Ingest data from many sources and syndicate across data targets
11. Flexible integrations
INTEGRATION OPTIONS
APIs (RESTful, SOAP)
Database views
Files (Excel, CSV, XML, JSON)
Choose how and when you share data
SCHEDULING OPTIONS
On demand
Scheduled
Event driven
12. Find the
right MDM
solution
• Be extremely flexible
• Configure, not code
• Be open and extensible
• Handle enterprise complexity without being complex
• Be highly scalable and secure
• Enable granular control
• Ensure the highest level of data quality
13. People, processes, and
technology
Keys to MDM
success Flexible data
model
Support for
multiple data
types
Open,
extensible
integration
framework
Configure not
code
approach
Workflow &
automation
Data
governance
quality &
stewardship
14. People, processes, and
technology
Keys to MDM
success Flexible data
model
Support for
multiple data
types
Open,
extensible
integration
framework
Configure not
code
approach
Workflow &
automation
Data
governance
quality &
stewardship
15. A flexible
data hub
The foundation for success
in today’s digital economy.
BACK AND FRONT-
OFFICE ROLES
Administrators
Data Stewards
Business Contributors
Business Viewers
ORG.
STRUCTURES
Local
Centralized
Federated
USES
Operational
Analytical
DOMAINS
Product Asset
Customer Location
Supplier Material
DATA TYPES
Master Data
Reference Data
Metadata
Digital Assets
STYLES
Centralized
Consolidation
Coexistence
Registry
Hybrid
HIGHLY FLEXIBLE DATA MODEL
OPEN, EXTENSIBLE INTEGRATION FRAMEWORK
Data Syndicaton &
Synchronizaton Via
Standard Protocols
Platform Accessible
To Third-party Apps
via Open APIs
Able To Leverage
Peer Services
Using APIs
Data Accessible To
Third-party Apps
Via Sql Views
DEPLOYMENT OPTIONS
Cloud On-premise
LICENSING OPTIONS
Perpetual Subscription
16. MORE THAN JUST
TRUSTED DATA
Get cross-domain
intelligence to drive
better decision-making
PRODUCT
MANAGE
Master, application, reference, and
metadata across domains.
AGGREGATE & VIEW
Transactional, behavioral, and
unstructured data.
VENDOR
CUSTOMER
ASSET
LOCATION
MATERIAL
17. Contextual insights
• See products owned by customer.
• Easily navigate between domains.
• See customers by product.
• See detailed customer analytics within the MDM platform.
18. Make informed decisions
PRODUCT DATA TARGETS
Systems Data lakes
Reports Databases
Data pools Apps
DATA SOURCES
Internal & external systems
Spreadsheets & docs
Databases
Third-party data services
People
MANAGE & VIEW
Master, application, reference, and
metadata across domains.
AGGREGATE & VIEW
Analytics on transactional,
behavioral, and unstructured data.
VENDOR
CUSTOMER
ASSET
LOCATION
MATERIAL
Handle multiple domains on a single instance
19. Core multi-domain MDM capabilities
Bring your data governance policies to life
Data stewardship
& quality
Access control &
ownership
Audit, rollback, &
lineage
Golden record
management
Data integration &
syndication
Hierarchy
management
Process
automation
Relationship
linking
Cross-domain
intelligence
Role-based UI and
dashboards
20. Right-size your MDM solution
PRODUCT
EnterWorks
VENDOR
CUSTOMER
LOCATION
MATERIAL
ASSET
Add capabilities and other domains when you’re ready
Sales &
services portal
+
Print
automation
+
Digital asset
mgmt. (DAM)
+
GDSN
synchronization
+
Managed
syndication templates
+
Vendor portal
- product data
+
Vendor portal
- vendor data
+
Customer domain
solution
+
Advanced
reporting
+
Smart
Template Pro
+
21. Match & merge
Create a trusted golden record for use
across the enterprise
• Easily identify and manage duplicate records.
• Configure rules to facilitate record matching
and survivorship.
• Quickly select attribute values from duplicate
records to create a master record.
• Maintain lineage of records used to create a
master record.
22. Flexible, configurable
data model
Be more agile and reduce TCO
• Create unlimited entities, data attributes,
metadata fields, and business rules.
• Manage the data model via a web-based UI
without needing coding skills.
• Get multi-lingual attribute and data support.
• Create dynamic relationships between attributes,
entities, and domains.
• Create data models from scratch or leverage
out-of-the-box domain-specific data models.
23. Data quality and
standardization
Create and maintain high-quality data
• Easily see data quality issues via dashboards
and reports.
• Profile data and constantly perform data
quality health checks.
• Standardize data automatically according to
your rules.
• Match, merge and de-duplicate data.
• Monitor and report workflow execution.
• Integrate with third-party enrichment,
cleansing, and verification services including
Melissa Data, Dun & Bradstreet, and USPS.
24. Versioning, audit,
rollback, & lineage
Keep track of all your data
• Maintain audit history down to the attribute
level—know what changed, when, and
by whom.
• Display audit history for any record and
easily compare multiple versions.
• Rollback an object or attribute value to
a previous version.
• Maintain and trace data lineage for
reconciled data.
25. Process automation
Get trusted data where it needs to
go, faster
• Build new workflows quickly and easily
with drag-and-drop visual designer.
• Create parallel and sequential tasks, and
workflow loops.
• Set up task, approval, and past due,
reminder, and escalation email
notifications.
• Get full visibility into process status via
dashboard reports.
• Collaborate with internal and external
participants (human and system).
26. Sophisticated
hierarchy
management
Handle unlimited, complex hierarchies
with ease
• Create unlimited, multi-level hierarchies.
• Link a data object to multiple nodes and
hierarchies simultaneously.
• Audit and rollback changes to hierarchies.
• Auto-classify items.
• Visualize and easily manage hierarchies
within the platform UI.
27. Taxonomy
management
Streamline and simplify product data
classification
• Classify and structure product data based
on your specific standards or an industry-
standard classification system.
• Enable business users to maintain
classification structure and category-
specific attribute assignments via the UI.
• Use inheritance to reduce time-to-market
and simplify editorial processes—maintain
data one time in one place.
• Easily maintain taxonomy node/category
ownership and responsibilities.
28. Drive success in the front and back office
Empower business teams to drive
incremental revenue.
• Test and scale new business models and
channels, fast
• Create tailored offers and content
• Use cross-domain intelligence to make better
decisions
• Use enriched, accurate data across domains
Empower data and IT teams to drive
business results through timely,
trusted data.
• Syndicate and synchronize trusted data
across the systems that power your business
• Meet your data quality and compliance goals
• Configure not code and keep pace with your
dynamic business
• Get granular control over who can modify
your data model and business rules
29. People, processes, and
technology
Keys to MDM
success Flexible data
model
Support for
multiple data
types
Open,
extensible
integration
framework
Configure not
code
approach
Workflow &
automation
Data
governance
quality &
stewardship
30. Core Components Complementing Technology
Business accountability for data with ‘fit
for purpose’ operating models/processes
and a complementary org construct to
provide a structured and repeatable
process for sustained data integrity and
value creation
Data Harmonization to ensure that data
governance actions are always based on
organizational value drivers, follow a
structured, repeatable and scalable
governance model and deliver data
ontology and architecture capabilities
Data Governance Framework that
ensures the availability, usability,
integrity, and sustainability of your most
critical data in support of analytics,
operations and compliance
Data Metrics Model that organizes
critical data governance and quality
metrics to better inform business
performance and dimensionalizes
them for proper analysis and action
31. Proven Data Harmonization Approach
Why should we
harmonize data?
(define repeatable
decisioning criteria)
What data should
we harmonize and
prioritize?
What dimensions
(levels) should we
harmonization our
data across?
What does our data
harmonization need
to support and how
do we sustain it?
Leveraging a leading practice Data Harmonization Framework ensures a value-based approach to determine
the critical data and what level of harmonization delivers incremental benefits as a part of a scalable and
sustainable delivery model.
32. Context Drives Data Harmonization Value
Data Harmonization strategies that don’t consider ‘context’ always fail to deliver value and never gain meaningful
followership from the organization
35. Let’s continue the conversation…
Contact us
Set up a 30-minute
personalized demo
+1-877-700-0970
“Get in touch” on www.precisely.com
www.precisely.com
Demos
White Papers
Case Studies
Hello everyone,
and welcome to today’s webinar
and welcome to today’s webinar
Hello everyone,
And thank you for joining us today.
Before we begin, I’d like to review some quick items
Please note that webcast audio is streamed trough your computer speakers
If you need technical assistance with the web interface or audio, please reach out to us using the Q&A box
You can also submit your questions at any time during the presentation through the Q&A box.
We will answer as many questions as we can at the end of the presentation
If we do not get to your question, we will follow-up via email after the webinar
This webinar is being recorded.
You will receive an email following the webinar with a link to the recording and slides—which we encourage you to share with any colleagues who were unable to attend. [PAUSE]
[PAUSE]
And we encourage you to share them with your colleagues who are unable to attend today.
And now I’ll turn it over to your presenter. Enjoy the webinar.
[Jason] Intro speakers and hand off to Sumit
[Sumit]
Talk track
Today’s digital economy runs on data. If you’re going to compete and thrive <click>
Talk track
Your core business data must be right. It must be compliant, and just as important, it must be available wherever it’s needed by the business, faster than ever. We’re talking about the core master data that describes your business—your products, customers, vendor, equipment, employees and the like.
So how do you improve the quality of your most important business data and ensure that it gets to all the systems and people that need it quickly? <click>
Talk track:
But with today’s loosely-coupled systems landscape, digitizing processes is challenging, to say the least. The critical data that powers your core business processes and underpins your transformation efforts is more dispersed than ever before. Think about your customer data for a moment. It may reside in your ERP, CRM, marketing, eCommerce, point-of-sale systems, and so on. The effect of these data silos is not just data discrepancies between systems, but process inefficiencies as business teams wait for data from one system into another or act as the glue between systems rekeying data from one place to another.
You may have dialed in your sales process to move customers through the sales cycle efficiently, but if it takes days to set up a new customer in the system where you process your orders, you’ve lost momentum and maybe even customer goodwill in the process.
And you can certainly find any number of articles and surveys in the press, or analyst reports, that dig into this issue. Here you see just a few stats from Forbes, the Harvard Business Review, and Precisely’s own Data Trends Survey.
When two-thirds of organizations say siloed data negatively impacts their data initiatives and almost half of newly created data records have at least one critical error, it is no wonder that 84% of CEOs doubt the integrity of the data on which they make decisions!
105
A data hub that provides the foundation for success in today’s digital economy.
MDM platforms drive not only better data, but also better processes – and ultimately better business results.
They provide key capabilities that organizations require to master, govern, and share master data across the systems that power their business. This includes the capabilities needed to handle multiple data types including master data, application data, reference data, and digital assets.
92
But it’s not enough to just have high-quality data. You need to get that trusted data and digital assets to the systems that power your business quickly, whether those systems are in your digital core or in the increasingly complex landscape that surround your core.
93
94
107
Design principles to look for in an MDM platform.
All of the tools and features necessary to manage data and business complexity – without being complex.
People, processes, and technology need to come together to achieve success.
Segue into technology talk track w/ Sumit.
People, processes, and technology need to come together to achieve success.
116
This slide sets up the discussion around MDM features coming up in the following slides.
The main point to get across here is the importance of an extremely flexible platform in many dimensions—enabling them to meet their needs today and long into the future.
Flexibility across data domains, data types, implementation styles, licensing structure, and deployment models is critical.
Our highly flexible data model enables you to easily model any business requirement and data structure using the application’s UI.
extremely flexible in many dimensions.
103
Multi-domain MDM enables cross-domain intelligence. Companies can create linked relationship between different data domains and aggregate data from other sources within the platform. This ability to enables business users to do things like see products owned by a particular customer or customer by products, so they can make better business decisions. This slide can tee up the cross-domain intelligence demo.
Organizations can centralize data governance activities in a single platform, and doing everything one platform lowers TCO.
104
The key points here are how we enable them to:
Manage and view master, application, reference and metadata across any domain in a single platform.
We can enable them to aggregate and view analytical data from many sources within the platform (like sales history or social sentiment data)
111
A data hub for managing any type of data—ingest or synchronize information with any source system including your ERP and your CRM and once ingested, validate the incoming data to make sure it meets your quality requirements. Once validated, data can enter a workflow where it can be further enriched and then synchronized with any other business system.
Businesses can also surface up analytics on transactional, behavioral, and unstructured data in the context of the domain people are working in. An example of this would be surfacing sales history or social sentiment data in the context of a product.
Emphasize multiple domains in a single instance versus other vendors with separate loosely-coupled domain-specific platforms (like Informatica).
A hub for better business, not just better data
112
Tee up key capabilities for multi-domain MDM.
Key capabilities that organizations require to master, govern, and share master data across the systems that power your business. This includes the capabilities needed to handle multiple data types including master data, application data, reference data, and digital assets.
114
“MDM is something to grow into, not dive into out of the gate.” - Forrester
An extensible MDM platform gives you options to add-on modules and domain specific functionality allows you to take a modular approach. You can right-size your solution out of the gate and grow over time.
Use this slide to position that they are buying into a fully fledged multi-domain hub and that they can add both domains and additional functionality when they’re ready.
Add-on modules include Digital Asset Management, Print Automation, Vendor Portal, and GDSN synchronization.
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
122
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
126
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
127
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
128
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
129
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
Sumit wraps up
130
Note to sales:
Use this slide to tee up the main match and merge capabilities that they’ll see in a demo.
109
Benefits overview: MDM as a data hub designed to drive success in both the front office and the back office.
Although MDM has traditionally primarily been a back-office initiative, empowering the front office is also important, either by enabling them to use the platform directly or by giving them timely access to trusted data in the business systems they use.
Look for a solution that has been designed to drive success in both the front office and the back office. Enable your front-office teams to test and scale new business models and channels and enable your back-office Data and IT teams to drive business results through timely, trusted data.
Sumit hands off to David
Introduce the people and processes aspect (Strategic Services) and how they come together with technology to achieve success.
And finally, I just want to thank you all again for joining us.
If you go to our website you can find demos, White papers, case studies, and a lot more information about how a strategically deployed vendor portal can help streamline third-party collaboration and reduce manual processes to produce engaging omnichannel experiences, accelerate time-to-market, and execute more successful product launches.
And if you think of any follow-up questions, or would like to continue the conversation, please reach out.
You can contact us directly through our phone number or through the get-in-touch button on precisely.com
[PAUSE]
Questions?
Can you also do Vendor and Customer masters too?
I’m on S4 Hana will this work with my system?
I have custom fields in my material master, does this work for those?
We often have fields that the business is missing can you make them require even if SAP doesn’t require them?
We would love to speak to you in more detail about your product data processes and how we can help you make an impact to your business , so please feel free to reach out to us.
If you go to our website you can find demos, White papers, case studies, a lot more information about how PIM can help you manage configurable products and finished goods more effectively, streamline processes, and enhance customer experiences