As a company grows, technological development does not always follow. Sometimes we find that the information we have about a product, for example, is scattered in several places. The increasing amount of data slows down time-to-market and makes it difficult to access information. Data management takes more and more time generating more and more costs. What if, in the spirit of digital transformation, we could automate these processes? Information systems that help with this are MDM (Master Data Management), which includes tools to facilitate data management and approval processes.
Master Data Management - a system that acts as a central data repository. It contains all the data an enterprise has and supports its management. This includes technical, transactional/trade, logistics, marketing, multimedia (digital assets and their metadata) data.
All the data is combined, making it consistent and always up-to-date. When different systems use the same data, there is often data redundancy and problems determining which data is up to date. Different types of data are in different formats in different systems, making access difficult. Sometimes it happens that it is hard to pull data from some system and this is done manually.
Salespeople or people from the Marketing Department notice this. They have a problem to present an offer or advise a customer. In order to gather a complete set of information about the offered service or product, they need to collect information from different places. Master Data Managemnt allows them to automate these activities to have easy access to data from multiple sources from multiple departments. MDM not only helps reduce internal costs, but also improves the user experience and increases sales.
If you need a Master Data Management system, which one should you choose? What to look for when making such an important decision from the perspective of a company's IT ecosysytem?
One of the few systems containing all of the above features is the Pimcore platform. In the form of a free open-source license, Pimcore provides a wide range of capabilities, from a system for product information management (PIM), enterprise data management (MDM), digital assets management (DAM), CMS extended to user experience management (DXP) or putting up an entire online store (e-commerce).
Among the functionalities for MDM is data management and modeling, including assigning a classification system such as ETIM; workflow management; a Data Quality Management module; custom BI reports; a Data Hub to connect to any systems and much more. With all this ready to configure in a free license, users love Pimcore. According to B2B market research organization FeaturedCustomers, among MDM systems, Pimcore has the most deployments (388) and has been one of the leaders for several years. According to the Gartner Research Institute, Pimcore is the "Consumer's Choice" in the Master Data Management category for the second year in a row, thanks to outstanding ratings and high customer satisfaction. It is hard to count all the awards in the MDM category for Pimcore, and it is one part of this Platform. For medium and large companies with broad needs, this is the best system to support and automate enterprise growth.