230 people responded to this Ventana Research study. The results show that companies are looking to use MDM to resolve analytical as well as operatinal issues. Here are some highlights from the study.
Managing Multiple Data Entities is a Top RequirementThe results show that companies need to manage multiple data entities, with customer data the number-one priority of respondents and product data number two. Overall, 83 percent of companies include customer data as part of their MDM initiative. Companies also are looking to standardize financial and other data that is needed as the source of information used for analysis; this is more important to those working in business units than to those in IT. We believe this indicates a growing realization that in competitive markets, companies need a more consistent definition and understanding of customers to increase their own operational efficiency and respond more effectively to customers' needs. The respondents prioritized much more highly data that affects external business with customers than they did more inwardly facing data about, for example, employees and suppliers.
Customer-Focused Departments and Processes will Benefit Most from MDM
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