The use-cases for MDM programs are as different as the companies itself. Use-cases may be adapted and partially transferred to your own company. However, the use-case must always be derived from the company's own business needs.
Questions leading to an MDM program could be the following:
- Who is the customer with whom I make the most revenue?
- For which products do I earn the best margin?
- At which locations do I sell product XY best and to which target group or buyer persona?
- How many employees do we have?
As you can see, the approaches can be fundamentally different, however they all have one thing in common: they need data that can be trusted, and which is up to date. All too often, bad and inconsistent data are the key drivers for MDM programs.
If we consider this problem of bad data and adapt it to the collaboration between business and IT divisions, the stakeholders ultimately have one common goal - to use the data available to them to make better decisions. The first step in achieving this goal is to create a data strategy, a task that many companies find daunting. Where do you start?
Simply start at the very beginning! Your vision and strategy are fundamental to the success of your complete program. Gartner's "The 7 Building Blocks of MDM to Achieve Success in the Digital Age" is an appropriate and proven approach:
Source: Gartner, Use the 7 Building Blocks of MDM to Achieve Success in the Digital Age, Michael Moran, Bill O’Kane and Simon Walker, 9 March 2018