Informatica Sees Intelligent Multi-Domain MDM as the Future of Data Management
Informatica is shaping the future of master data management (MDM) with a new cloud-native solution.
Called Intelligent Multi-domain Master Data Management (MDM), it allows customers to view their business-critical master data across any and all domains and assets. In its press announcement, it calls it the future of data management.
The launch comes as companies ask for faster and more direct access to a trusted 360-degree view of the business. Yet, the IDC InfoBrief, sponsored by Informatica, “Driving Business Value from Data in the Face of Fragmentation and Complexity,” found that 32% of organizations were using more than 1,000 data sources and nearly 80% store more than half of their data in hybrid and multi-cloud infrastructures.
The sprawl of data sources makes data management exponentially challenging, as data is spread across more sources than ever before. In addition, different data types add to the challenge of managing this data, creating possible fault lines that increase data fragmentation. Together, these challenges erect barriers to building hyper-personalized customer experiences, managing complex global supply chains, and encouraging data-driven innovation.
Reducing data fragmentation and offering a 360-view are what MDM solutions were supposed to do. But traditional solutions tended to focus on single domains such as customer or finance, unintentionally creating more silos and adding to the ongoing fragmentation.
Informatica’s Intelligent Multi-Domain MDM takes a different approach. It allows companies to connect, understand, and manage the relationship between multiple domains such as location, customer, product, supplier, and assets, including IoT devices or sensors. This is especially vital as more companies deploy IoT sensors to gain a more accurate data-driven view of their operations.
For example, today’s retailers want to create hyperpersonalized experiences to offer the right products at precisely the right time and in the correct format to drive business value. According to Informatica, its Intelligent Multi-Domain MDM allows retailers to connect and manage domains including location, customer, product, and supplier; it creates a holistic view of the customer to deliver that unique experience and follow it up with connected customer service and relevant communications.
“Digital business is a complex network of relationships and interdependencies between customers, products, partners, locations, and other business entities,” said Stewart Bond, IDC’s research director. “Multidomain master data management is a key enabler of analytics and operational processes across the entire value chain of business, from producer to consumer and all points in between.”
Intelligent Multi-Domain MDM offers several benefits. It uses a cloud-native microservices architecture built on user-centric design principles and AI-powered automation. The intuitive interfaces, guided workflows, and machine learning recommendations simplify the discovery, curation, and consumption of master data for analytical and operational use. This increases data democratization and improves mastering MDM.
It is also designed ground-up to reduce the total cost of ownership (TCO). With the new Multi-domain MDM, companies do not have to manage several point solutions and can deploy a new domain in weeks, not months, enabling organizations to keep pace with the rapid pace of change. In addition, pre-configured domain and industry content simplify implementation and administration, further reducing deployment times.
Powered by CLAIRE, Informatica’s AI engine, the company claims the new offering can increase productivity by 50%. The AI engine helps to automate the onboarding of master data, identification of source fields, and mapping them to master data models, saving the enterprise precious time.
Lastly, the platform can accelerate business outcomes and manage risk and compliance. With a single view across different domains, it improves the company’s understanding of suppliers, finance elements, and operational details. For large enterprises with multiple subsidiaries or are undergoing mergers, a trusted, single view can speed up integration, improve compliance and reduce risks.
“Intelligent data is transforming industries, but complexity and fragmentation are creating roadblocks and stalling innovation. We’re seeing some organizations simply shift the fragmented data problem to a fragmented infrastructure problem,” said Jitesh Ghai, Informatica’s chief product officer.
“Informatica’s cloud-native Multi-domain MDM addresses that by connecting the dots between valuable data from domains across the business in a single, end-to-end solution, delivering the trusted, holistic view businesses need to make intelligent decisions, fast,” he added.
Image credit: iStockphoto/maroke
