At Pivotree, our experience providing MDM implementation and support to many companies and industries gives us a unique perspective. Our team has applied MDM in creative, atypical ways to help our clients get to new levels of ROI.
This blog series will share real-world use cases that highlight seven things you may not know MDM could do.
1) Use a “Silver Record” to Support Your Golden Record
Creating a golden record to maintain a single view of trusted master data is a common concept in MDM. But you may not be familiar with the concept of a “silver record,” i.e., using automation to build your golden record.
What is a Silver Record?
When building a golden record, the key question is, “What record do the users modify?” The conventional process is for users to modify data directly in the golden record. For customer data that isn’t shared outside the company, this works great. If you have all of your customer’s information — and it’s accurate and up-to-date — that’s all you need.
But for the product domain, you also need to enhance your records with marketing data (like descriptions, attributes, and digital assets) to sell your products effectively. However, during this enhancement phase, you still want to control the golden record to ensure the data used to enhance the record fits your data quality standards.
Pivotree found a solution to this dilemma. We created a “silver record” inside the MDM platform where users can enhance records, which can then be merged into the golden record. This concept allows users to enter certain portions of data into the silver record; then, based on automated rules we establish, that data gets promoted to the golden record — whether from internal or external sources. The silver record gives companies greater traceability when creating the golden record. This way, you can optimize your product data golden record for selling while using automation to maintain visibility and data quality.
2) Creating Spec Sheets with One Click
In certain industries, spec sheets are an essential tool. Research & Development and Product Management teams use them to communicate important information across the organization and out to partners. For instance, in the food and beverage space, companies use spec sheets to send vital product specifications — like ingredients, nutritional information, and allergen information — to retailers who need to know about the products they have on their shelves.
The problem with spec sheets is that they are typically a huge pain to create. The arduous process involves extracting data, sending it to a graphic artist, having the graphic artist design it, and printing it or sending it. On top of being a hassle, the process can take days or weeks and is prone to errors.
To solve this challenge, we’ve empowered users to create spec sheets with one click.
When we create this solution for clients, teams who don’t typically use MDM (like R&D and Product Management) can access the system, find a product, and dynamically create a spec sheet on the fly with one click. This solution introduces MDM to a whole new group of users, streamlines an essential process, and enables efficiencies across internal and partner networks.
3) Incorporating Multiple Banners within a Single MDM
Many companies have multiple “banners” for which they need to manage data. These banners typically operate independently, whether they are various brands under the same parent company or regional business units. The traditional MDM philosophy is to combine the data from multiple banners and bring it under one data model.
But occasionally, our assessment of an organization determines that banners need to remain separate and independent. In cases like this, we don’t actually have to combine the banners or perform two separate MDM implementations. We’re able to incorporate multiple banners with completely separate data models into a single MDM.
By using this process, we can:
- Leverage commonalities to benefit each banner.
- Maintain each banner’s independence.
- Grant rights and privileges separately to each banner.
- Use different data governance and data quality models for each banner.
By envisioning beyond the traditional MDM philosophy, we’re able to provide a valuable solution that helps companies with multiple banners reap the benefits of accessing collective data while not sacrificing what makes each banner unique.
More to Come!
With the right guidance and expertise, companies can think bigger about the applications of MDM. In the next blog in the series, we’ll dive into the last four unconventional solutions MDM can provide. Stay tuned!
Pivotree works with companies to maximize their MDM investment. If you’re not happy with the current state of your MDM (or want the fastest ROI from an upcoming implementation), our expertise with MDM platforms and processes can show the way. To discuss how our team can optimize your MDM ROI, contact us here, and one of our MDM experts will be in touch.
FAQs
1. How does the concept of a "silver record" in MDM address the challenge of maintaining data quality while allowing users to enhance product records?
The concept of a “silver record” in MDM addresses the challenge of maintaining data quality while allowing users to enhance product records by providing a controlled environment for data enhancement. Users can input certain portions of data into the silver record, which acts as a staging area. Automated rules are then applied to promote the data from the silver record to the golden record based on predefined criteria. This approach ensures that data used to enhance the record meets quality standards while giving users flexibility in updating product information.
2. What specific industries benefit most from the one-click spec sheet creation feature enabled by MDM, and how does it streamline their processes?
The one-click spec sheet creation feature enabled by MDM benefits industries where spec sheets are essential tools, such as food and beverage. This feature streamlines the process of creating spec sheets, which typically involves extracting data, designing the sheet, and distributing it. With one click, users, including those in R&D and Product Management teams, can access the MDM system, locate a product, and dynamically generate a spec sheet. This not only saves time but also reduces errors and enables efficient communication of vital product information.
3. Can you provide examples of scenarios where incorporating multiple banners within a single MDM system offers advantages over traditional MDM implementations?
Incorporating multiple banners within a single MDM system offers advantages in scenarios where maintaining separate and independent banners is necessary. Instead of combining data from multiple banners into one data model, each banner retains its own data model within the MDM system. This approach allows for leveraging commonalities across banners while maintaining their independence. Additionally, it enables separate management of rights, privileges, data governance, and data quality models for each banner, optimizing data management for diverse business units.