Is MDM helpful?

Master Data Management, abbreviated as MDM, is useful in companies of all sizes and aims at securing the consistency of large and strategically critical quantities of data originally coming from various data sources.

    Facts

    MDM Right to the Point

    Simple and comprehensive

    This way, you see everything at a glance for the basis of strategic decisions: The users themselves determine the structure of all master data, connect data records, and merge redundant data or duplicates.

    Reducing Error Rates

    All your company’s master data can be managed centrally in the Master Data Management system. You manage the data of a product in the master file and, from there, all records referencing it are automatically updated, too.

    Spot-On Decision-Making

    Link product and customer data with branch stores, articles, or physical storage places – and secure the consistency of your data records.

    Who needs a PIM system?

    Marketing

    For marketing experts who want to distribute high-quality product information to all touch points in a quick and reliable manner. The uniqueness of the customer experience and the solidification of the customer retention occupy a central role.

    Who needs a PIM system?

    E-Commerce

    For shop operators who want to connect product info, customer data, reviews, and SEO figures with one another, staying streets ahead of their fellow competitors. Make strategic business decisions today on the basis of well-researched key figures for tomorrow’s success.

    Who needs a PIM system?

    Sales

    For sales professionals who want to convince their customers with personalized product offers and promotions. To this end, you no longer require the entire product catalog but only those parts which truly seize the customer’s interest.

    Who needs a PIM system?

    IT Administration

    For IT exports prefer a well-structured system infrastructure instead of isolated data clusters and interface programming. The central data management cuts redundancy and, consequently, simplifies your workflows.

    Who needs a PIM system?

    Executive Board

    For CEOs who don’t make decisions based on gut feelings but firmly grounded upon hard data and facts. What makes the difference is the combination of products, customers, and task-related data.

    Who needs a PIM system?

    Product Management

    For product managers who want to keep an overview of their products, namely the entire product life cycle from product idea to successor products. And, at the same time, an overview of all components, recipes, or stocklists of all products at a glance.

    WHAT DO YOU HAVE TO KNOW ABOUT MDM?

    How does MDM function?

    Master Data Management is the centralized organization of all of your company’s data. Here, three aspects you’ll have to keep in mind.

    Multi-Domain Versus Single-Domain MDM

    When talking about MDM nowadays, you’re usually referring to “Multi-Domain Master Data Management.” Contrary to systems for “Single-Domain Master Data Management”, such systems manage data from multiple — or, ideally, all — fields and areas. Single-domain systems, for example, focus on a specialized field such as PIM or CRM.

    Multi-Domain MDM Software does not Replace All Systems

    This type of software is not developed to the end that you will only use one system for all your company’s business decisions. MDM is only one kind of data storage and has, as a rule, little to no domain-specific functions. That is to say, it cannot generate invoices out of offers or classify product data by industry standards such as eCl@ss. Such specialized tasks are still executed within dedicated systems the data of which is mirrored in the MDM system.

    The Advantages of Multi-Domain MDM Systems

    Without MDM software, your subject-specific data remains dispersed over various applications or, perhaps, even simple MS Excel tables – so that comprehensive oversight of customers or products is not possible without significant effort. The main goal of Multi-Domain MDM systems is to dissolve unordered data clusters, unifying them and bringing them into relation.

    The Most Essential Facts on MDM

    Storing master data centrally for an enhanced overview and connection of all data from various domains and fields are the core functions of MDM. Additionally, MDM provides you with…

    • extensive user-generated data types from texts and tables to multimedia
    • does not replace CRM, ERP, or PIM
    • however, a MDM system actively communicates with CRM and ERP systems
    Everywhere in Your Company

    See more, make better decisions.

    360° View on Products and Customers

    Combine product and customer data into an all-encompassing overview.

    High-Quality Decisions

    Make decisions based upon up-to-date and department-independent data.

    Faster Reaction Time to Market Shifts

    Your overview of all data lets you to identify the early patterns of market changes, allowing you to prepare anticipatory actions well in advance.

    Enhancing Data Quality

    Data is now managed only in one central spot so that there is no error rate in data record transmission.

    Cutting Redundancy

    Central management using one and the same data pool saves resources which you may then allocate more efficiently for relevant tasks as necessary.

    Team-Overarching Collaboration

    Linking data and storing it centrally boosts internal communication and knits tighter bonds between your individual teams for even closer collaboration.

    Questions and Answers

    What is master data?

    What is master data?

    Master data are unordered units of information from corporate departments. For example, this includes data on customers, target groups, corporate branches, tasks and jobs, products, or suppliers.

    What kind of systems can be connected to MDM?

    What kind of systems can be connected to MDM?

    A Master Data Management system can integrate all sorts of systems: PIM, CRM, ERP, online shops, and SCM.

    Where can eggheads come into play?

    Where can eggheads come into play?

    eggheads’ very own software solution, eggheads Suite, encompasses functions of MDM systems for the primary field of product data. Additionally, you can create and manage data on customers, tasks, or corporate branches and connect them with one another as necessary.

    What is the cost of a MDM solution?

    What is the cost of a MDM solution?

    There’re as many possibilities as there is master data.
    License costs may vary from free Open Source PIM to Enterprise PIM. Let’s talk about your goal, your return-on-investment, and your information flows together and analyze your concrete requirements in collaboration.

    Let’s talk about product data together.

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