Empower your Business with Data Insights using Master Data Management
Strategic business decisions that align with organisational goals, objectives, and initiatives require data-driven decision-making that uses data, measurement, and facts. Data-driven decision-making can assist organisations in boosting revenue, accelerating innovation, acting on insights more quickly, and upholding compliance. However, Data-driven decision-making cannot be attained by merely selecting the right analytics technology to locate strategic opportunities. Organisations must create a data culture that encourages critical thinking and curiosity among all employees. Businesses need to empower employees with self-service capabilities and collaborative governance. Data skills need to be developed through practice and instruction. Additionally, organizations require the backing of a community that uses data to make decisions and executive advocacy.
Making sure that organisational data is accurate, consistent, manageable, and accessible across all domains and sources is one of the fundamental problems of data-driven decision-making. Master Data Management (MDM) can help with this.
Master Data Management is creating and maintaining a single source of truth for the most essential shared data assets. Master data describes the identifiers that provide context about business transactions and operations, such as location, customers, products, and assets. Using a comprehensive Master Data Management Strategy, MDM may help prevent data silos and enhance business information.
TIBCO EBX® software is a leading solution for MDM that helps businesses manage all master, reference, and metadata on a single platform. TIBCO EBX® software allows users to model, govern, and share any domain of master data, such as customers, employees, suppliers, assets, locations, materials, products, legal entities, financial accounts, reference data, and more. TIBCO EBX® software also enables creation of fully configurable applications that provide self-service access and collaborative governance for business users.
TIBCO EBX® software has helped many organisations across various industries achieve success with data-driven decision-making. Here are some examples:
- A global pharmaceutical company used TIBCO EBX® software to manage its product master data across 120 markets and 15 systems. This enabled them to reduce time-to-market for new products by 50%, improve regulatory compliance by 80%, and increase customer satisfaction by 30%.
- A leading retailer used TIBCO EBX® software to manage customer master data across multiple channels and touch-points. This enabled them to create a 360-degree view of their customers, personalize their offers and promotions, and increase customer loyalty and retention.
- A major airline used TIBCO EBX® software to manage its aircraft master data across its fleet and maintenance operations. This enabled them to optimize asset utilisation, reduce operational costs, and enhance safety and quality.
It is best if an organisation starts with Master Data Management to empower the business with actionable intelligence through data-driven decision-making.
Start your Master Data Management journey today and choose TIBCO EBX® software. Contact InfoBuild today to learn how TIBCO EBX® software can help you achieve your business goals with data-driven decision-making.
Written by Jikku Jacob