Informatica conulting service
However, relational databases cannot serve as an effective and efficient single source of truth for master data assets. Typically, every team or business unit in organizations maintain their own versions of data across multiple relational databases, resulting in data silos and excessive duplications. Besides, the databases aren’t optimized to process and analyze large datasets or queries, thereby hindering the real-time analytics operation.
Organizations that are looking to effectively analyze master data and maintain a single source of truth should invest in the implementation of a master data management (MDM) platform.
Informatica for Master Data Management Platform Development
Informatica is a cloud-based data management and integration tool that offers a dedicated interface for creating and launching master data management platforms. MDM platforms created using the Informatica tool act as a cloud-based repository that extracts and consolidates core business information from legacy databases, CRM, and ERP systems.
The intuitive AI-powered CLAIRE engine enables MDM platforms to automate several data management tasks, such as data cleansing, data matching, quality checks, and others. By offering insights related to data asset duplication and format discrepancies, the MDM platforms help data stewards take corrective actions and ensure greater compliance with predefined standards. Moreover, by using MDM platforms, data analysts and IT professionals can easily perform querying processes, like filtering, entity relationship visualization, and comparison of large datasets through SQL commands.
When businesses associate with a reputable Informatica consulting services provider, custom MDM platforms optimized for complex querying can be easily built and launched. Dedicated Informatica consultants build MDM based on two different architectures, such as:
-
Hub-and-Spoke Architecture- This architecture enables the data management platform to extract, transfer, and load data from operational systems like ERP and CRM into a cloud hub. In the hub, data is cleansed, deduplicated, and formatted autonomously based on pre-defined rules. Consequently, the hub redirects processed data to operational systems, guaranteeing that master data remains consistent across applications and tools.
-
Registry Architecture – The MDM platform built based on a registry architecture creates a virtual reference pointer for master data assets present across different systems. Through queries or access requests, the MDM platform retrieves master data directly from the source systems and delivers a coherent response.
Key Use Cases of Informatica-Powered Master Data Management Platform Implementation
1. Supply Chain Optimization
In general, teams managing supply chain operations largely rely on data to make decisions related to product procurement, order processing, and logistics. By implementing an Informatica-built master data management platform in the digital infrastructure, the quality and integrity of supply chain data can be improved through profiling and validation techniques. With reliable supply chain data, stakeholders effectively coordinate activities and minimize errors. For instance, with an Informatica-based MDM solution, a manufacturer can ensure that product details, such as pricing and specifications are consistently updated across product lifecycle management software and supply chain systems.
Informatica MDM platform offers supply chain teams real-time and precise visibility into stock availability data. This enables teams to make strategic decisions related to inventory replenishment, allocation, and distribution, and meet end-user demands effectively.
2. Customer Segmentation and Targeted Marketing
Segmentation is crucial for customer-facing businesses to run targeted campaigns and deliver personalized services. MDM platforms built by an Informatica consulting company effectively combine and analyze customer data from different sources. This analysis enables brand marketers to segment their customers based on purchase history, demographics, preferences, and engagement patterns. This segmentation facilitates seamless planning and execution of targeted marketing campaigns and personalized service delivery with ease, thereby improving customer satisfaction.
Robust auditing and governance functionality of MDM platforms ensures that customer data adheres to protection regulations effectively. The auditing module offers detailed trails, lineage tracking, and consent management capabilities, enabling organizations to maintain customer data security while delivering personalized services.
3. Financial Forecasting and Budgeting
The real-time synchronization capability of MDM platforms enables organizations to centralize, and access updated financial data without any discrepancy. This substantially benefits in-house financial teams to easily retrieve data and perform expense tracking or profit & loss assessments. With access to precise financial data, optimizing operational costs and increasing profit margins becomes easier for enterprises.
Moreover, the Informatica MDM platform’s accurate reporting and analytics functionality helps businesses with robust financial forecasting and budgeting. By guaranteeing the consistency and accuracy of financial data, teams can perform extensive analysis of the past and future budget performance. Through consecutive analyses, financial teams can effectively allocate and optimize resources and meet budgeting objectives.
4. Healthcare Data Standardization
In the context of the healthcare industry, operational inefficiencies manifest in the form of delayed treatments and higher patient discontentment rates. These inefficiencies arise due to poor data standardization practices like data entry duplication and manual reconciliation. With the implementation of master data management platforms, healthcare firms automate data standardization processes at large. The automation of data standardization processes minimizes the risk of errors and enables healthcare providers to focus on other administrative tasks.
Furthermore, by integrating MDM platforms with clinical decision support systems (CDSS), care providers can easily assess health risks and deliver personalized treatment plans to patients. The intuitive predictive analytics functionality supports MDM platforms to analyze patient data in decision support systems, identify patterns, and predict potential health outcomes or risks.
Closing Thoughts
In short, developing and deploying master data management platforms using Informatica is an effective way for organizations to maximize the value of their business data. With the implementation of MDM platforms, the quality and accuracy of data can be increased. However, to create and launch functional MDM platforms, enterprises should consider partnering with an Informatica professional services provider. Dedicated Informatica consultants collaborate with internal teams and stakeholders and design an MDM solution that resolves specific pain points, such as improving supplier data quality or customer data precision. This tailored approach ensures that the newly built MDM platform aligns with the organization’s data management objectives and goals.
Comments
0 comment