Master Data Management
Companies have typically tackled the problems of unreliable data by implementing multiple master data management (MDM) point solutions in specifi c domains, such as a customer MDM solution for customer data and a product information management (PIM) solution for product data. This is a sensible approach, but some companies are realizing that they have solved one set of problems only to create another: They now maintain multiple sets of master data that are established in functional silos, making it impossible to view the data across domains. Compounding the problem, customer data alone is often mastered in multiple systems such as marketing systems, CRMs, and call centers across local MDM solutions, cloud services, and legacy systems.
It is therefore important to have a Universal MDM solution which means it can be platform independent and be able to integrate with all seamlessly.
Universal MDM sits in a layer above a company’s disparate applications such as CRMs, marketing systems, call centers, and MDM solutions, unifying them into a single, all-encompassing MDM solution. With Universal MDM, a company can maintain a single view into all of its master data. A company can gain a view not only into the relationships among entities across different domains but also into the interactions that touch these different domains. Universal MDM promises a wealth of business benefits. To choose one example, customer service representatives would always know the full history of every customer, in order to to go above and beyond customer satisfaction; by solving more problems more quickly, they would be advantageously well positioned to offer special discounts. However, Universal MDM has a set of comprehensive requirements. It needs to work with any source and any target, and it needs to work with any domain and any style (Registry, Consolidation, Coexistence, Centralized).
Finally, it needs to be able to work with any client on any platform or device. Fundamentally, Universal MDM must provide:
Universal services. Services that work universally across all master data in the enterprise
Universal domains. Universal support for all key data domains
Universal governance. Control over all master data through a common interface
Universal solutions. Solutions that work universally for companies in key vertical industries
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