Across industries and trades, master data management (MDM) solutions result in positive business outcomes through improving efficiency and enabling new business. In addition to that, master data management is necessary to ignite digital acceleration and facilitate data governance.

Master data is the backbone of any company’s data infrastructure. But the nature of their master data can differ a lot depending on the type of industry, enterprise size and business area.

Day two has come and gone at our Connect conference in Copenhagen, and while innovation - the overarching theme for yesterday - continued to be a key topic, day two was all about sharing digital transformation success stories.

Our annual Connect conference kicked off today in the heart of Copenhagen, at the Tivoli Hotel & Congress Center. A conference where customers and partners meet to imagine, inspire and ignite their shared passion for all things data.

There are many benefits to reap from master data management (MDM). Providing higher efficiency or enabling new business – a positive ROI is almost unavoidable regardless which industry you serve or organization you operate.

Taking retail as an example, mastering your various data domains addresses some of the most business-critical issues such as growing the product catalog, increasing customer loyalty, reducing product returns and accelerating sales.

In my previous blog post I explained master data management (MDM) and its importance in the context of the consumer and the customer experience. In this post, I look ahead and shed some light on what we can expect from a technology and customer experience perspective in the near future, as the growing expectations from consumers are currently driving businesses in new directions - and with that, they are also driving MDM.

People who want to lose weight study nutrition facts. They want to know the total amount of calories, percentage of calories from fat, protein, carbohydrates, cholesterol, allergens and many other facts. The higher the awareness, the more scrutiny of information the consumer will exercise.

Recently, with the explosive growth of online shopping and ecommerce, you may have heard some say retail is dead or dying. You may have even read a blog predicting this. But if, like me, you attended ShopTalk in Las Vegas, you know those predictions were wrong.

In my previous post, I discussed the power of matching supply and demand data using master data management (MDM). I showcased challenges many retail, footwear and apparel (RFA) makers face in the market today, as well as the value of applying MDM as a strategic asset that improves decision making and collaboration. 

For retailers around the world, the data economy has put a premium on leveraging information as a strategic asset that directly impacts revenue and growth. This is a growing trend that isn’t surprising given today’s ubiquitous use of mobile devices and the digital consumer. 

If you rely on CRM, ERP, ecommerce, data warehouses and related systems, you’ve likely experienced challenges associated with costly manual entries, siloed systems and inefficient processes. These challenges often result in the creation of duplicate records that contain mismatched pieces of information – or worse – inaccurate or conflicting data.