Cloud-native Multi-Domain MDM is the Future of Data Management to Help Companies Overcome Data Fragmentation
Informatica (NYSE: INFA), an enterprise cloud data management leader, today announced cloud-native Intelligent Multi-domain Master Data Management (MDM), designed to empower customers with trusted views of business-critical master data, across any and all domains and assets to enhance every function with intelligent data.
To be successful in the digital economy, businesses need fast, direct access to a trusted 360-degree view of the business. Yet, the IDC InfoBrief, sponsored by Informatica, “Driving Business Value from Data in the Face of Fragmentation and Complexity”, found that 32% of organizations were using more than 1000 data sources and nearly 80% store more than half of their data in hybrid and multi-cloud infrastructures. This highlights the challenge businesses face with more data, of more types, spread across more sources than ever before. This increasing fragmentation and complexity create barriers to success for businesses needing to create hyper-personalized customer experiences, manage complex global supply chains and innovate with their data.
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“Digital business is a complex network of relationships and interdependencies between customer, products, partners, locations and other business entities,” said Stewart Bond, IDC Research Director. “Multidomain master data management is a key enabler of analytics and operational processes across the entire value chain of business, from producer to consumer and all points in between.”
Traditional MDM solutions focus on single domains such as customer or finance, encouraging silos and creating additional fragmentation as organizations create fragmented infrastructures with a plethora of point solutions. Now, with Informatica’s Intelligent Multi-Domain MDM, enterprises can connect, understand and manage the relationship between multiple domains such as location, customer, product or supplier as well as assets including IoT devices or sensors. For example, in today’s fast-paced, always-on environment retailers need to create hyperpersonalized experiences and meet customers with the right offer, at exactly the right time, in the right format to delight customers and drive value for the business. With Intelligent Multi-Domain MDM retailers are able to connect and manage domains including location, customer, product and supplier to bring together a holistic view of the customer to deliver that unique experience and follow it up with connected customer service and relevant communications.
With Multi-domain MDM, enterprises can leverage a single view of the business by bringing together all different types of master data, across multiple domains, processes and assets into the Intelligent Data Management Cloud (IDMC). Organizations can manage all services relating to master data management from a single interview and enjoy the following key benefits:
- Grow revenue with increased adoption, productivity, and agility. Built on a cloud-native microservices architecture with user-centric design principles and AI-powered automation Multi-domain MDM is tailored to meet users with intuitive interfaces, guided workflows, and machine learning recommendations to simplify the discovery, curation and consumption of master data for analytical and operational use. This increases data democratization, in a trusted way, across teams empowering data stewards, analysts and analytics teams to leverage master data to drive more value, increase wallet share of existing customers and strengthen brand loyalty.
- Speed deployment and reduce total cost of ownership (TCO) with a single solution. With the new Multi-domain MDM enterprises can deploy a new domain in weeks, not months, enabling organizations to keep pace with the rapid pace of change. An all-in-one solution, it integrates all the data management capabilities required for the practice of master data management with pre-configured domain and industry content to simplify implementation and administration. Powered by CLAIRE, Informatica’s AI engine, it can deliver 50 per cent increase in productivity, by automating the onboarding of master data and identifying source fields and mapping them to master data models, saving the enterprise thousands of hours.
- Accelerate business outcomes and manage risk and compliance. Enterprises can drive better business outcomes with a closed-loop view of their data spanning all areas of the organization including sales, service, marketing, billing and after-sales support. It’s not just the customer-facing view that is transformed with Multi-domain MDM, organizations can better understand suppliers, finance elements and operational details. For large enterprises with multiple subsidiaries or those undergoing mergers, the ability to have a trusted, single view across multiple businesses and all domains helps accelerate integrations, improve compliance and reduce risk.
“Intelligent data is transforming industries, but complexity and fragmentation are creating roadblocks and stalling innovation. We’re seeing some organizations simply shift the fragmented data problem to a fragmented infrastructure problem,” said Jitesh Ghai, Chief Product Officer at Informatica. “Informatica’s cloud-native Multi-domain MDM addresses that by connecting the dots between valuable data from domains across the business in a single, end-to-end solution, delivering the trusted, holistic view businesses need to make intelligent decisions, fast.”
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