We often hear from our Informatica MDM customers about the main benefits they’ve realized from master data management (MDM)—smarter, faster decision-making and greater productivity though timely and reliable data. What’s less widely recognized is that MDM is proving to be a powerful cost-saving engine, as well.
For instance, a global investment bank saved millions of dollars by using Informatica MDM to virtually eliminate maintenance and support costs for a complex web of point-to-point integrations. If you’re using or considering MDM, it’s a smart idea to assess the costs of unintegrated data systems and examine cost-saving strategies and tactics available through a multidomain, model-driven MDM solution.
We’ve just published a new white paper, “Seven Ways to Reduce IT Costs with Master Data Management,” that drills down into using MDM to target the redundancy, waste, inefficiency and unnecessary maintenance and licensing typical of a heterogeneous data infrastructure. A sampling of these seven critical areas includes:
• Interface costs: How you can minimize costly point-to-point integrations that support key business processes
• Redundant third-party data: How you reduce acquisition costs of duplicate data from third-party providers such as Dun & Bradstreet or Acxiom
• Data cleanup: How you can efficiently centralize data quality to eliminate expensive manual efforts
The economy may be improving, but IT managers will continue to be tasked to “do more with less,” zero in on costs, consolidate technology and justify their IT investments. But let’s face it—needless cost and waste is endemic in many enterprise data infrastructures and IT managers can’t just snap their fingers and make it disappear. The culprit systems and processes, disparate though they may be, run the business.
A beauty of MDM is its non-invasive nature, so that critical infrastructure components are preserved beneath an elegant MDM abstraction layer that delivers consistent and reliable information to the business users who need it. Get the white paper for details on all seven cost-saving strategies available to you through MDM.
Great post Ravi. Thank you for pointing out the cost saving capability of MDM and how critical it is to look at the big picture when instituting new technology. We have a community for IM professionals (www.openmethodology.org) and have bookmarked this post for our users. Look forward to reading your work in the future.