Ever since online data consumption has increased, businesses are left with no other option but to manage data effectively in order to acquire success. It is high-volume data that comes from across the platforms and in no time, it becomes redundant and outdated.
The data can be anything, for instance, product data, customer data, transactional data, etc. and if not managed well then businesses can face its repercussions such as performance issues. Data management is crucial if you wish to drive exceptional customer experience and sales.
To manage business data efficiently MDM or Master Data Management comes into the picture. And when it comes to the best MDM, Pimcore MDM is the leading open-source MDM software that assists you to manage every facet of master data or records. Without it, businesses cannot move ahead in this digital-driven age.
Master Data Management (MDM) in Pimcore
Pimcore’s MDM is an assortment of tools, technology, and processes that help businesses to maintain their data consistently and accurately. Managing data in high quality is a difficult task to do and if a business fails to handle data, it leads to poor performance and lesser sales. When you use MDM, you can manage data from a single location, which mitigates data redundancy, improves its reliability, and provides useful insights.
Pimcore’s MDM is multi-domain and multi-vector that can be easily deployed on-premises and in cloud infrastructure both. It offers specific features and functionalities to manage data impressively.
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Data quality and data governance through MDM
Data quality and data governance are the most critical facets of data management for enterprises. When it comes to information architecture, you can define data policies and maintain compliance. Pimcore’s MDM has capabilities that help you to implement data quality dimensions associated with your master data.
Data rules to manage compliance, quantitative measurements for information policies, and integration of all these into a data governance framework can be done with the help of Pimcore’s MDM. Any organization with proper master data management, has well-defined data governance policies and an established organizational structure for better management and execution.
A few important use cases of Pimcore’s MDM
1. Top-notch quality, reliable and clean muster data
MDM monitors data quality, and data completeness, and analyses the whole system’s process quality. It has a feature to automatically supply the right type of master data to all the output channels.
Pimcore’s MDM offers a central view for data quality checks and data validation. It also provides rich auditing and versioning features to measure and track all data modifications in one place. Moreover, you get pre-configured data types for URLs, geodata, colors, numbers, SKUs, etc.
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2. Consistency and integrity of data
Pimcore’s master data management helps in centralized data management, compliance, governance, and transparency of master data across the data value chain. You can easily define, authorize, and reuse master data entities for better consistency and efficiency.
Using MDM, an organization can eliminate tiring manual processes for master data management in multiple applications.
3. Increased security standards
Organizations’ master data is used across all the platforms they operate and that demands a high-security level for data protection. Pimcore’s MDM helps you with a multi-layer security concept to provide robust security to Pimcore-based solutions.
It offers user authentication and rights management, ensures multifactor authentication, and industry standard SSO protocols for complete security of data credibility. It restricts the access of unauthorized users to the system.
4. Reuse of data
Master Data Management assists in the easy import and export of data between Pimcore and external systems and provides seamless integration of these systems. It also reuses the whole data model, business logic, and data validation configuration. Pimcore’s MDM provides a full-featured REST web services API and a Data Hub GraphQL API for real-time integrations with other apps.
5. Publishing and versioning
You can use the decadent publishing feature of Pimcore’s MDM to take complete control of your enterprise data. Governance policies integrated with workflow and access management provide you with full control of product data. Organizations can use scheduled publishing and trace data with the versioning feature.
Common Misconceptions about MDM
1. No need for PIM because MDM covers product data as well
MDM takes care of product data but not in-depth. Therefore, PIM is anyways required to manage product data properly.
PIM and MDM both are required in an enterprise system. PIM looks solely at product information, whereas, MDM covers customers, vendors, distributors, locations, employees, and all other types of data.
2. If an organization has ERP, why use MDM
Again, ERP and MDM serve different needs of an organization. ERP manages the CRM, SCM, business intelligence (BI), etc. of an enterprise. And MDM ensures data enrichment, data governance, data workflows, and updated data supply to all the channels.
3. Every MDM is a multi-domain, multi-vector system
MDM is single-domain and multi-domain both; however, Pimcore’s MDM is multi-domain system. Single-domain MDM is programmed to collect data for a single domain only with limited features. Multi-domain MDM helps organizations to attain proper business intelligence with efficient data management.
4. MDM implementation is a one-time job
MDM facilitates cross-departmental, cross-functional collaboration and analysis, which is a continuous process. It is a dynamic facet of an organization that keeps on thriving with new business requirements, mergers, and acquisitions.
What all MDM brings for your organization?
- MDM helps you to extend your reach to new data domains without incurring huge expenses.
- It dumps data silos across the platforms and also helps in eradicating them.
- Manages and controls different versions of the data.
- Easily connects with every type of business enterprise system such as CRM, BI, etc., and perform seamless third-party integrations.
- It makes your whole system the fastest without hampering its performance.
- Improves time-to-market.
Wrapping up
In a nutshell, MDM caters to the analytical and operational needs of an enterprise. To improve supply chain operations, enterprise-wide efficiency, and boost processes MDM helps with different gen-next integrations. Analytical needs imply better business intelligence, analysis, forecasting, etc. These requirements ultimately aim to achieve higher ROI, improved customer experience, and reduced time-to-market; MDM helps to acquire these goals. Pimcore’s MDM is a must to have software for enterprises!
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