Among surveyed U.S. organizations, respondents indicated they believed fully a third of their customer and prospect data was in some way “inaccurate,” prompting 89 percent of surveyed C-level executives to acknowledge that inaccurate data was undermining their organizations’ ability to provide an excellent customer experience. Eighty-four percent noted that the increasing volume of data collected within their organizations was also “making it difficult to meet regulatory obligations.”
Leverage a complete, accurate, trusted view of organizational data
for better business decisions, optimal outcomes, and clear competitive advantage.
Dealing with the Data Dilemma
What to Do with Too
Much of a Good Thing
Businesses in every industry are increasingly aware that accurate, actionable organizational data may be the single most critical driver of long-term, sustainable growth and success. Yet for most, the lightning-fast technology advances delivering ever-more data to their organizations are—paradoxically—something of a double-edged sword.
On the one hand, they have ever-greater access to better data, acquired more quickly, able to fuel more efficient and profitable operations. On the other hand, they watch as more software on more platforms churn out ever-more data, increasingly at risk of being siloed, fragmented, conflicting, outdated, or endlessly duplicated. They are finding, in short, that more data does not necessarily mean more valuable data.
A Grave C-Level Concern
A recent global data management benchmark study by credit reporting agency Experian underscores the gravity of the situation (click to access report).
Defining the Discipline
What Is Master
At its most basic level, master data management (MDM) is the way an organization defines and manages its most important data in order to ensure that the entire enterprise shares a common, trusted view of the accurate, real-time information needed for critical business analysis and decision-making, operational efficiency, and compliance with governance and regulatory requirements.
Tokara partner Profisee defines MDM most simply as "the technology, tools, and processes that ensure master data is coordinated throughout the enterprise, providing a unified master data service of accurate, consistent, and complete master data both across the enterprise and to business partners."
MDM includes not only the initial creation of clean, relevant, authoritative, enterprise-wide master data, but also its ongoing maintenance using tools and processes designed to ensure it remains clean and consistent over time as is updated, expanded, and used to drive efficiency, growth, and long-term success.
Tokara + Profisee Partnership
As industry-leading technology consultants and engineers, the Tokara team enjoys a close partnership with leading MDM solutions provider Profisee. Ranked again by Gartner as an MDM leader in its "2020 Master Data Management (MDM) Magic Quadrant" report, Profisee's scalable, next-generation platform simplifies MDM, quickly delivering superior user experience and uncompromising performance in all the areas that clients need to maximize the value of their data.
[Profisee leads with strengths in] market understanding, vision and mind share. Profisee has identified a gap in the market for companies looking to get started with MDM and seeking an easy-to-use, cost-effective and rapidly deployed MDM solution at a consumable price point—a need also reflected in [3X increase in] Gartner client inquiries. In support of this vision, Profisee also offers a pure starter solution—Essentials—that can be later upgraded to an enhanced enterprise solution via the switch of a license key.
—Gartner 2020 MDM Magic Quadrant Report
[Profisee leads with strengths in] cost and speed of deployment. Customers report an easy-to-understand pricing model, an economically priced offering and favorable TCO. All this, combined with shorter implementation time frames, makes for a solid proposition in support of Profisee’s vision to service the unpenetrated MDM market. Profisee has more implementations taking under three months than any other vendor in this Magic Quadrant.