Measuring and Defining the Business Value of Implementing MDM\/PIM for Your Organization<\/p>\n\t<\/div>\n\t\t\t
What is Master Data?<\/strong><\/h2>\n\n\n\nMaster Data is the core data that runs through an enterprise’s digital ecosystem.<\/p>\n\n\n\n
It covers an enormous amount of data, typically relating to customers, suppliers, products, parts, employees, materials, locations, recipes, and more.<\/p>\n\n\n\n
Master Data forms the foundation that enables enterprises to build analytical capabilities and manage their business. Business functions across the organization, from Marketing to Operations to Finance, rely on Master Data to make informed decisions, plan effective strategies, and measure their success.<\/p>\n\n\n\n
Due to the importance and complexity of this information, many resources, technologies and disciplines have evolved around Master Data Management to get the most value from it.<\/p>\n\n\n
\n\t\n\t\tLearn how to choose a future-ready MDM platform.\t<\/div>\n\t\n\t\tDownload the Ebook: What is Master Data Management?<\/p>\n\t<\/div>\n\t\t\t
\n\t\t\tGET IT NOW<\/a>\n\t\t<\/div>\n\t<\/div>\n\n\n\nIdentifying Where MDM and PIM Have the Biggest Impact<\/strong><\/h2>\n\n\n\nWhen thinking about how to introduce and implement MDM into your organization, it\u2019s useful to consider where and how it will have the greatest impact. These are the functions, departments, and people that will be impacted most by this solution (and also have the most to gain!).<\/p>\n\n\n\n
Syndigo\u2019s Ben Rund called out areas of the business that will be heavily influenced by MDM in the webinar. Using Gartner\u2019s Maturity Matrix, he identified key MDM impacts on a spectrum of Risk vs Reward.<\/p>\n\n\n\n
The many benefits of a well-implemented MDM system can be associated into three broad categories:<\/p>\n\n\n\n
How you RUN the business.<\/strong>
This covers benefits associated with improving or streamlining core business functions. Though these might not be the most \u201cexciting\u201d perks of MDM, they influence some of the most critical day-to-day operations across the organization.<\/p>\n\n\n\nHow you GROW the business.<\/strong>
This includes functions essential to staying ahead of the competition, increasing sales, and improving retention and loyalty.<\/p>\n\n\n\nHow you TRANSFORM the business.<\/strong>
High-level and larger-scale initiatives that expand your overall presence in the marketplace or fundamentally change the way you do business internally and externally.<\/p>\n\n\n\nWatch the clip below for a more detailed explanation of how to share this context within your organization.<\/p>\n\n\n\t\n\t\t![\"MDM](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/1_Videos-Thumbnails_MDM-Blog-1024x576.webp\")
\t\t\n\t\t\t![\"Play\"](\"https:\/\/syndigo.com\/wp-content\/themes\/syndigo\/img\/play.svg\")
\n\t\t<\/div>\n\t\t\n\t\t\t![\"Play\"](\"https:\/\/syndigo.com\/wp-content\/themes\/syndigo\/img\/play-white.svg\")
\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nFour Ways to Express MDM Business Value<\/strong><\/h2>\n\n\n\nThough there are many benefits to adopting Master Data Management solutions, it can be difficult to express their importance and value. It\u2019s useful to be able to distill a business case down to a compelling argument for different audiences. Consider using one or more of these approaches when pitching MDM to your organization:<\/p>\n\n\n\n
The \u2018Simple One\u2019<\/strong>
Sometimes the easiest way to share the value of adopting MDM is to simply express what will happen if you don\u2019t.<\/p>\n\n\n\nRund explained the inspiration for this approach came from a conference Q&A panel he attended:
\u201cI actually learned that lesson while attending an eCommerce conference…a PIM program owner sat on the panel stage and he was asked in the Q&A by someone in the audience, How did you get the buy in from your CEO? How did you get the budget? Why do you need a PIM program in your organization? His answer was, if we don’t do it, we are dead<\/strong>. That was his quote. It was really drastic, and very simple words.\u201d<\/p>\n\n\n\nWatch below for a complete explanation of using the \u2018Simple One\u2019 approach.<\/p>\n\n\n\t\n\t\t![\"Why](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/2_Videos-Thumbnails_MDM-Blog-1024x576.webp\")
\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Story Teller<\/strong>
Sometimes making a persuasive case isn\u2019t so simple. One way to share a compelling pitch for MDM is through storytelling. You can use real examples and use cases from other industries, your own marketplace, or even within your own day-to-day experiences.
One example Rund gives is a success story of great PIM and MDM coming together in his own life. When on a business trip, he got an email from a brand encouraging him to reward himself after a recent run. The message included timely, highly-relevant information: a lookbook with appealing products, a special offer, and even a map to the address local store\u2014a compelling experience all enabled by PIM and MDM. This combination of the \u201cright information, at the right time, at the right person,\u201d in his words, was enough to compel him to go make a purchase.<\/p>\n\n\n\nWatch both of the example stories from the webinar below for more inspiration.<\/p>\n\n\n\t\n\t\t![\"Master](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/3_Videos-Thumbnails_MDM-Blog-1024x576.webp\")
\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Benchmark Lover<\/strong>
With the stakes so high, not everyone can be swayed with just anecdotes. \u201cNot everyone loves the stories, some people love data,\u201d Rund explained. \u201cSome people love facts, statistics and benchmarks.\u201d<\/p>\n\n\n\nFor people who want the analytical proof, there\u2019s no shortage of powerful facts and figures that show the value of MDM. For example, here\u2019s some compelling research from iXtenso<\/a>:<\/p>\n\n\n\t\n\t\t![\"MDM\"](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/4_Videos-Thumbnails_MDM-Blog.png\")
\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nROI of Data\/PIM\/MDM<\/strong><\/p>\n\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t![\"PIM](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/1.svg\")
\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\tConversion rates increase 35% by using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t![\"PIM\"](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/2.svg\")
\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\tMargins increase 44% by using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t![\"ecommerce](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/3.svg\")
\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t75% more speed for e-commerce using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\nFind even more high-impact statistics, from general market research to category-specific changes, in the webinar clip below:<\/p>\n\n\n\n
The Analyst Approach<\/strong>
Finally, Rund suggested a methodical approach that pulls in the authority and expertise of organizations regularly involved implementing or monitoring the success of MDM programs: for instance, an analyst or consulting specialist. For example, here\u2019s how Gartner recommends building your MDM case:<\/p>\n\n\n\n![\"Business](\"https:\/\/syndigo.com\/wp-content\/uploads\/2023\/08\/Master-Data.png\")
<\/figure>\n\n\n\nWatch below for a full explanation of this approach:<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nHow to Build an MDM Business Case for C-Suite Priorities<\/h2>\n\n\n\n
MDM is a major step forward for an organization, one that often requires buy-in from top-level leadership to be successful. When making a push for MDM, it\u2019s important to be able to explain how this is going to solve C-Level challenges across the organization.<\/p>\n\n\n\n
This approach boils down to mapping MDM directly to your senior leadership\u2019s objectives. Because those objectives can be numerous and broad, it may require some thought and work to cover everything.<\/p>\n\n\n\n
But that effort will result in the most persuasive argument for initiating the organization-wide improvement and transformation enabled by MDM and PIM working together.<\/p>\n\n\n\n
You\u2019ll find in-depth advice, examples and resources for speaking to C-Suite priorities in this portion of the webinar:<\/p>\n\n\n\t\n\t\t![\"CXO\"](\"https:\/\/syndigo.com\/wp-content\/uploads\/2022\/06\/CXO-1024x575.png\")
\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Fast Track for Seamless PIM and MDM Adoption<\/h2>\n\n\n\n
Master Data Management solutions connect products, customers, employees, suppliers, physical locations and more in a single cohesive and easy-to-manage data ecosystem.<\/p>\n\n\n\n
If you\u2019re ready to unlock this power at your organization, or need help in understanding how to share its value with internal stakeholders, Syndigo can help. Learn more<\/a> or click here to get a tour<\/a> of everything MDM is capable of.<\/p>\n","protected":false},"excerpt":{"rendered":"Master Data Management (MDM) is critically important for the long-term success of any business that wants to thrive in our fast-moving, ever-changing environment. But as a highly complex and sometimes amorphous topic, it can also be difficult to push for buy-in and adoption across your organization.<\/p>\n","protected":false},"author":1,"featured_media":44394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_page_status":"","footnotes":""},"categories":[16],"tags":[19],"class_list":["post-3306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-mdm"],"acf":[],"yoast_head":"\n
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Download the Ebook: What is Master Data Management?<\/p>\n\t<\/div>\n\t\t\t
Identifying Where MDM and PIM Have the Biggest Impact<\/strong><\/h2>\n\n\n\nWhen thinking about how to introduce and implement MDM into your organization, it\u2019s useful to consider where and how it will have the greatest impact. These are the functions, departments, and people that will be impacted most by this solution (and also have the most to gain!).<\/p>\n\n\n\n
Syndigo\u2019s Ben Rund called out areas of the business that will be heavily influenced by MDM in the webinar. Using Gartner\u2019s Maturity Matrix, he identified key MDM impacts on a spectrum of Risk vs Reward.<\/p>\n\n\n\n
The many benefits of a well-implemented MDM system can be associated into three broad categories:<\/p>\n\n\n\n
How you RUN the business.<\/strong>
This covers benefits associated with improving or streamlining core business functions. Though these might not be the most \u201cexciting\u201d perks of MDM, they influence some of the most critical day-to-day operations across the organization.<\/p>\n\n\n\nHow you GROW the business.<\/strong>
This includes functions essential to staying ahead of the competition, increasing sales, and improving retention and loyalty.<\/p>\n\n\n\nHow you TRANSFORM the business.<\/strong>
High-level and larger-scale initiatives that expand your overall presence in the marketplace or fundamentally change the way you do business internally and externally.<\/p>\n\n\n\nWatch the clip below for a more detailed explanation of how to share this context within your organization.<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nFour Ways to Express MDM Business Value<\/strong><\/h2>\n\n\n\nThough there are many benefits to adopting Master Data Management solutions, it can be difficult to express their importance and value. It\u2019s useful to be able to distill a business case down to a compelling argument for different audiences. Consider using one or more of these approaches when pitching MDM to your organization:<\/p>\n\n\n\n
The \u2018Simple One\u2019<\/strong>
Sometimes the easiest way to share the value of adopting MDM is to simply express what will happen if you don\u2019t.<\/p>\n\n\n\nRund explained the inspiration for this approach came from a conference Q&A panel he attended:
\u201cI actually learned that lesson while attending an eCommerce conference…a PIM program owner sat on the panel stage and he was asked in the Q&A by someone in the audience, How did you get the buy in from your CEO? How did you get the budget? Why do you need a PIM program in your organization? His answer was, if we don’t do it, we are dead<\/strong>. That was his quote. It was really drastic, and very simple words.\u201d<\/p>\n\n\n\nWatch below for a complete explanation of using the \u2018Simple One\u2019 approach.<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Story Teller<\/strong>
Sometimes making a persuasive case isn\u2019t so simple. One way to share a compelling pitch for MDM is through storytelling. You can use real examples and use cases from other industries, your own marketplace, or even within your own day-to-day experiences.
One example Rund gives is a success story of great PIM and MDM coming together in his own life. When on a business trip, he got an email from a brand encouraging him to reward himself after a recent run. The message included timely, highly-relevant information: a lookbook with appealing products, a special offer, and even a map to the address local store\u2014a compelling experience all enabled by PIM and MDM. This combination of the \u201cright information, at the right time, at the right person,\u201d in his words, was enough to compel him to go make a purchase.<\/p>\n\n\n\nWatch both of the example stories from the webinar below for more inspiration.<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Benchmark Lover<\/strong>
With the stakes so high, not everyone can be swayed with just anecdotes. \u201cNot everyone loves the stories, some people love data,\u201d Rund explained. \u201cSome people love facts, statistics and benchmarks.\u201d<\/p>\n\n\n\nFor people who want the analytical proof, there\u2019s no shortage of powerful facts and figures that show the value of MDM. For example, here\u2019s some compelling research from iXtenso<\/a>:<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nROI of Data\/PIM\/MDM<\/strong><\/p>\n\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\tConversion rates increase 35% by using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\tMargins increase 44% by using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n\n\n\n\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\n\t\t\t\t75% more speed for e-commerce using PIM\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\nFind even more high-impact statistics, from general market research to category-specific changes, in the webinar clip below:<\/p>\n\n\n\n
The Analyst Approach<\/strong>
Finally, Rund suggested a methodical approach that pulls in the authority and expertise of organizations regularly involved implementing or monitoring the success of MDM programs: for instance, an analyst or consulting specialist. For example, here\u2019s how Gartner recommends building your MDM case:<\/p>\n\n\n\n<\/figure>\n\n\n\nWatch below for a full explanation of this approach:<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nHow to Build an MDM Business Case for C-Suite Priorities<\/h2>\n\n\n\n
MDM is a major step forward for an organization, one that often requires buy-in from top-level leadership to be successful. When making a push for MDM, it\u2019s important to be able to explain how this is going to solve C-Level challenges across the organization.<\/p>\n\n\n\n
This approach boils down to mapping MDM directly to your senior leadership\u2019s objectives. Because those objectives can be numerous and broad, it may require some thought and work to cover everything.<\/p>\n\n\n\n
But that effort will result in the most persuasive argument for initiating the organization-wide improvement and transformation enabled by MDM and PIM working together.<\/p>\n\n\n\n
You\u2019ll find in-depth advice, examples and resources for speaking to C-Suite priorities in this portion of the webinar:<\/p>\n\n\n\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t\t\n\t\t<\/div>\n\t\t\n\t\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Fast Track for Seamless PIM and MDM Adoption<\/h2>\n\n\n\n
Master Data Management solutions connect products, customers, employees, suppliers, physical locations and more in a single cohesive and easy-to-manage data ecosystem.<\/p>\n\n\n\n
If you\u2019re ready to unlock this power at your organization, or need help in understanding how to share its value with internal stakeholders, Syndigo can help. Learn more<\/a> or click here to get a tour<\/a> of everything MDM is capable of.<\/p>\n","protected":false},"excerpt":{"rendered":"Master Data Management (MDM) is critically important for the long-term success of any business that wants to thrive in our fast-moving, ever-changing environment. But as a highly complex and sometimes amorphous topic, it can also be difficult to push for buy-in and adoption across your organization.<\/p>\n","protected":false},"author":1,"featured_media":44394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_page_status":"","footnotes":""},"categories":[16],"tags":[19],"class_list":["post-3306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-mdm"],"acf":[],"yoast_head":"\n
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This covers benefits associated with improving or streamlining core business functions. Though these might not be the most \u201cexciting\u201d perks of MDM, they influence some of the most critical day-to-day operations across the organization.<\/p>\n\n\n\n
How you GROW the business.<\/strong> How you TRANSFORM the business.<\/strong> Watch the clip below for a more detailed explanation of how to share this context within your organization.<\/p>\n\n\n\t\n\t\t Though there are many benefits to adopting Master Data Management solutions, it can be difficult to express their importance and value. It\u2019s useful to be able to distill a business case down to a compelling argument for different audiences. Consider using one or more of these approaches when pitching MDM to your organization:<\/p>\n\n\n\n The \u2018Simple One\u2019<\/strong> Rund explained the inspiration for this approach came from a conference Q&A panel he attended: Watch below for a complete explanation of using the \u2018Simple One\u2019 approach.<\/p>\n\n\n\t\n\t\t The Story Teller<\/strong> Watch both of the example stories from the webinar below for more inspiration.<\/p>\n\n\n\t\n\t\t The Benchmark Lover<\/strong> For people who want the analytical proof, there\u2019s no shortage of powerful facts and figures that show the value of MDM. For example, here\u2019s some compelling research from iXtenso<\/a>:<\/p>\n\n\n\t\n\t\t ROI of Data\/PIM\/MDM<\/strong><\/p>\n\n\n\n Find even more high-impact statistics, from general market research to category-specific changes, in the webinar clip below:<\/p>\n\n\n\n The Analyst Approach<\/strong> Watch below for a full explanation of this approach:<\/p>\n\n\n\t\n\t\t\t\t MDM is a major step forward for an organization, one that often requires buy-in from top-level leadership to be successful. When making a push for MDM, it\u2019s important to be able to explain how this is going to solve C-Level challenges across the organization.<\/p>\n\n\n\n This approach boils down to mapping MDM directly to your senior leadership\u2019s objectives. Because those objectives can be numerous and broad, it may require some thought and work to cover everything.<\/p>\n\n\n\n But that effort will result in the most persuasive argument for initiating the organization-wide improvement and transformation enabled by MDM and PIM working together.<\/p>\n\n\n\n You\u2019ll find in-depth advice, examples and resources for speaking to C-Suite priorities in this portion of the webinar:<\/p>\n\n\n\t\n\t\t Master Data Management solutions connect products, customers, employees, suppliers, physical locations and more in a single cohesive and easy-to-manage data ecosystem.<\/p>\n\n\n\n If you\u2019re ready to unlock this power at your organization, or need help in understanding how to share its value with internal stakeholders, Syndigo can help. Learn more<\/a> or click here to get a tour<\/a> of everything MDM is capable of.<\/p>\n","protected":false},"excerpt":{"rendered":" Master Data Management (MDM) is critically important for the long-term success of any business that wants to thrive in our fast-moving, ever-changing environment. But as a highly complex and sometimes amorphous topic, it can also be difficult to push for buy-in and adoption across your organization.<\/p>\n","protected":false},"author":1,"featured_media":44394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","_page_status":"","footnotes":""},"categories":[16],"tags":[19],"class_list":["post-3306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-mdm"],"acf":[],"yoast_head":"\n
This includes functions essential to staying ahead of the competition, increasing sales, and improving retention and loyalty.<\/p>\n\n\n\n
High-level and larger-scale initiatives that expand your overall presence in the marketplace or fundamentally change the way you do business internally and externally.<\/p>\n\n\n\n\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nFour Ways to Express MDM Business Value<\/strong><\/h2>\n\n\n\n
Sometimes the easiest way to share the value of adopting MDM is to simply express what will happen if you don\u2019t.<\/p>\n\n\n\n
\u201cI actually learned that lesson while attending an eCommerce conference…a PIM program owner sat on the panel stage and he was asked in the Q&A by someone in the audience, How did you get the buy in from your CEO? How did you get the budget? Why do you need a PIM program in your organization? His answer was, if we don’t do it, we are dead<\/strong>. That was his quote. It was really drastic, and very simple words.\u201d<\/p>\n\n\n\n\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\n
Sometimes making a persuasive case isn\u2019t so simple. One way to share a compelling pitch for MDM is through storytelling. You can use real examples and use cases from other industries, your own marketplace, or even within your own day-to-day experiences.
One example Rund gives is a success story of great PIM and MDM coming together in his own life. When on a business trip, he got an email from a brand encouraging him to reward himself after a recent run. The message included timely, highly-relevant information: a lookbook with appealing products, a special offer, and even a map to the address local store\u2014a compelling experience all enabled by PIM and MDM. This combination of the \u201cright information, at the right time, at the right person,\u201d in his words, was enough to compel him to go make a purchase.<\/p>\n\n\n\n\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\n
With the stakes so high, not everyone can be swayed with just anecdotes. \u201cNot everyone loves the stories, some people love data,\u201d Rund explained. \u201cSome people love facts, statistics and benchmarks.\u201d<\/p>\n\n\n\n\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\n\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t
Finally, Rund suggested a methodical approach that pulls in the authority and expertise of organizations regularly involved implementing or monitoring the success of MDM programs: for instance, an analyst or consulting specialist. For example, here\u2019s how Gartner recommends building your MDM case:<\/p>\n\n\n\n<\/figure>\n\n\n\n\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nHow to Build an MDM Business Case for C-Suite Priorities<\/h2>\n\n\n\n
\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\t\n\t\t\t\t\n\t\t<\/div>\n\t\t\n\t\t<\/div>\n\t<\/a>\n\t\n\n\nThe Fast Track for Seamless PIM and MDM Adoption<\/h2>\n\n\n\n