Maybe you're a communications company that needs to recognize customers as individuals in order to consolidate billing. How much will a consolidated bill save you in mailing costs? How much will it cost you in support costs if the customer data is inaccurate and the bill details are incorrect? Or maybe you're a high-tech company with multiple versions of the same business customer and your corporate hierarchies are all over the map. How would fixing this drive business benefits? How could it save costs by letting you streamline territory assignments or target marketing messages? Or maybe you own the supply chain for the high-tech firm and your supplier relationships are, uh, sub-optimal. Or perhaps you could sunset a system or two by semantically reconciling your product data?
You get my point. Don't try justifying the hub itself. Calculate the ROI on the first one or two business initiatives that the hub will enable. Then watch the system pay for itself.
Dig Deeper on MDM best practices
Related Q&A from Jill Dyché
Is it better for companies to go with an enterprise-wide master data management (MDM) implementation or deploy MDM departmentally? Find out which ... Continue Reading
What’s the biggest BI problem companies keep running into? Overloading data at the expense of functionality, says an expert. Find out how to avoid ... Continue Reading
There’s a lot of confusion about agile business intelligence (BI). Get an expert’s take on what agile BI really is and if it’s a valid BI development... Continue Reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.