Customer data may offer the largest ROI (“Local data, global master, March), but there is a whole other world of data out there that barely refers to customers.
Product and supply chain data is what you’ll find bursting the seams of a manufacturer’s data warehouse, for example – not customer data. There is a need to break down ROI on a sector-by-sector basis, rather than applying homogenous principles. In a manufacturer’s case, the biggest ROI comes from an MDM solution that enables them to identify issues such as duplicate orders to different suppliers, which can then be combined into one order with the supplier that offers the best prices.
Master data can offer excellent returns, especially if a business is losing money from poor data management, but customers need to know where to apply the tourniquet – sectors vary.
EMEA managing director, DataFlux