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MDM, Whitepapers • 3 min read

[WP] Master Data Management: Creating jet fuel for your business

Joeri Moors | 20-07-2020

Bad data can seriously impact the business, costing a company up to 30% of its revenue. Gartner Research found that organizations believe poor data quality to be responsible for an average of $15 million per year in losses. To deal with data issues, a solid master data management (MDM) approach and solution are key. Read our whitepaper to get started.

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FUELING YOUR BUSINESS

Running a business without uniform and accurate data is like driving a car with no oil in the engine. It may work for some time, but undoubtedly this will lead to a faltering state where planning is inaccurate and production and sales suffer. Marketing initiatives will miss the intended impact and sales predictions will at best be nothing more than a well-intended shot in the dark. With the amount of data growing exponentially, these challenges are more and more likely to appear. And what’s worse: IDC2 projects that 80% of your data may be unstructured in five years. If not handled properly, data will become a rising struggle. But data also gives the opportunity to grow and evolve beyond the competition. With data at the core of your organization, you can open up new markets, realize business goals and transform into a truly digital company. Quality data helps to create superior product, digital and customer experience that increases customer loyalty. That’s why a 2018 Experian3 report found that 95% of c-level executives believe that data is an integral part of forming their business strategy. But how do you start the transformation into a data-driven organization?

MASTERING YOUR DATA

This whitepaper will show why ‘master data’ is crucial to your organizations success. The term master data represents all the different types of data that flow through an organization. Master data applies to finances, customers, suppliers, products and so on. Managing your master data is the prerequisite for executing business processes and applications and therefore, of the highest importance. Master Data Management (MDM) allows you to define, manage, centralize, organize, categorize, localize, synchronize and enrich all of your master data. This secures a single version of the truth, which will prove itself to be a valuable asset.

In this whitepaper you will learn:

  • What is MDM
  • How MDM fuels organisations today
  • The five top benefits of MDM
  • MDM: the key for global success?
  • The six signs your organization is ready for MDM

Access the full whitepaper by downloading it below. 

To read more about Master Data Management, go to our dedicated page here.

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Whitepaper

MDM: Creating jet fuel for your business

Download now
Picture of Joeri Moors

Joeri Moors

MDM Market Development Manager

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