WHY SILOED DATA EXISTS
As Conway’s Law explains1, systems tend to mirror the (social) boundaries within an organization. A centralized team structure will result in a centralized application. If there’s an invoicing department, for example, there will be an invoicing system. That’s ideal for the invoicing department, but the invoicing data is unavailable to the other parts of the organization. Every new system, from ERP to e-commerce, can become a monolithic entity that stores its data in a data silo.
In the ‘90s, both the internet and globalization revolutionize the way in which businesses operate and create value from data. As the design, authority and decision-making processes were decentralized from the start of the internet, this became the new norm. Across departments, business units and geographies, decentralized decision-making often led to data being duplicated in multiple locations. The result? A broad spectrum of hybrid IT-driven organizations with often widely distributed, isolated and duplicated data.
MDM IS THE KEY
In the current digital age, these organizations are on their unique path to becoming a customercentric, business agile enterprise. In order to be able to create relevant omnichannel experiences and to achieve operational excellence, organizations must free their siloed data. That’s exactly what Master Data Management (MDM) does: it’s the method to manage and integrate all the master data for customers, products, suppliers, vendors, locations, assets and more. MDM creates one single source of truth for all the processes in and outside an organization. That’s why MDM is the key business driver for innovation, operational efficiency and revenue growth.
In this whitepaper you will learn:
- Why data silos exist
- The main organizational issues resulting from siloed master data
- How MDM solves these challenges
- 7 ways MDM delivers business value
- How to choose an MDM provider
Access the complete whitepaper by downloading it below.
Read more about the topic of Master Data Management in our dedicated page here.