Even if you change your applications – maybe because you need more functionality or because there is an easier way to do it – your data will always stay the same. In time, you would need to handle your data and what better way to do this than with Oracle Master Data Management (MDM)?
What Is Oracle Master Data Management?
Oracle Master Data Management helps you manage your rapidly expanding data volumes and deal with degradation of data while working within your current IT environment. Oracle Master Data Management brings together, cleanses, enriches and synchronizes your business’ most important data.
With Oracle Master Data Management, you can also make use of pre-defined data models and applications to help you manage your master data and even sharing it with your business intelligence, applications and processes.
Oracle Master Data Management Hubs
Your business has different domains and Oracle gives you master data capabilities that handle the different characteristics of these domains. This is the reason why Oracle Master Data Management has several hubs:
- Oracle Customer Hub – helps you manage contacts, addresses and other customer data.
- Oracle Product Hub – helps you manage all data related to your products.
- Oracle Supplier Hub – gives you an easy way to store and access supplier details and information.
- Oracle Site Hub – brings together site information and other insights.
- Oracle Data Relationship Management
Features and Benefits of Oracle Master Data Management
So what do you get from using Oracle Master Data Management?
- Oracle Master Data Management allows you to use Oracle Enterprise Data Quality to cleanse and standardize your data. This basically ensures that your data is of high quality and very reliable.
- It gives your customers an enhanced experience with your Web site and other touch points.
- It allows you to work with other Oracle and non-Oracle applications.
- It gives your apps a higher ROI. When you have good data quality, you can easily move and use data across different platforms: CRM, PLM, SCM and other applications. What this means is that you can deploy these platforms easily without spending too much time and resources trying to integrate one with the other.
- It lays the foundation for your business intelligence and data warehousing initiatives. It also supports data governance, or makes sure that you store and access data in accordance to your business and data policies.
- It is necessary for ERP consolidation.
The Statistics Say It All!
So if you need a master data management solution, look no farther. Oracle currently has more than a thousand MDM customers worldwide who use the company’s software to keep tabs on their customer, supplier, business and site data. Oracle claims that their Master Data Management solutions led to an average of:
- 15% increase in campaign response rates
- 20% reduction in launching a new product to the market
- 15% reduction in time to value metrics
- 20% lower integration costs
- 3% improvement in up-sell and cross-selling activities
- 2% increase in customer retention rates
- 15% reduction in reporting costs
So what are you waiting for? Take that first step to using Oracle Master Data Management and call Four Cornerstone today!