Wednesday Jul 31, 2013

Introducing Oracle Data Relationship Governance

Author: Rahul Kamath, Director, Product Management, Oracle Enterprise Performance Management

I had the pleasure of taking a front seat at the recently concluded MDM & Data Governance Summit 2013 in San Francisco’s Hyatt Fisherman’s Wharf.  The session was extremely well attended.  Of particular interest were speakers including Doug Cosby, VP Engineering for Oracle Data Relationship Management and Jeff Slatter, Associate Vice President, Finance at TD Bank.   

Doug Cosby presented a strong case for master data management in the face of change. He discussed how changes can emerge from a variety of sources ranging from IT complexity, process complexity, new product innovation, regulatory changes, and of course, management injectors such as corporate reorganizations or mergers and acquisitions.  He highlighted the use of Oracle Data Relationship Management (DRM) as an enabler of enterprise transformations: financial transformations as they relate to ERP/GL migration, consolidation, rationalization, or coexistence, etc., as well as business transformations including employee, organization, sales, or legal entity restructuring. 

At the summit, Oracle announced a new module named Oracle Data Relationship Governance (DRG).

This announcement is significant for a number of reasons. First, this represents Oracle’s response to considerable demand in a new and exciting area of new product innovation.  Hundreds of existing multi-national enterprise customers of Oracle Data Relationship Management (DRM) have long requested the ability to develop their own configuration-based workflow models to complement the implementation of multiple business entities for enterprise information management purposes.


Second, this module is a standalone data governance solution from the Oracle Master Data Management product family that helps companies model any business entity of their choice, specify its attribution, related business rules and then construct workflow models – through pure configuration – to create complex multi-stage workflows so that front line business users can participate as co-creators within a data governance change management and remediation workflows alongside line-of-business approvers and data stewards to apply changes consistently across consuming, downstream applications including front-office, back-office, finance, HR and business analytics. 

Jeff Slatter of TD Bank, the sixed largest bank in North America, gave a great testimonial of how change management and governance are critical for the finance function at this dynamic financial institution as it charts its growth path through both organic growth and acquisitions. 

Jeff described how implementing an enterprise dimension management program allowed TD Bank to reduce the number of touch points for changes by 72%. Prior maintenance processes were manual, intensive and error prone.  By consolidating, streamlining and aligning various user communities across operations and analytics, the bank was able to reduce the number of hierarchies and related attribution by over 80%. 

Business users – instead of creating their own version – now are inclined to consume either the master default hierarchy or select from a set of alternate hierarchies as have been ordained by the cross-functional governance organization to build reports that are guaranteed to reconcile correctly.  Custom hierarchies are clearly identifiable for specific needs that are not met by either the master or alternate hierarchies.  The whole change management process relies on an efficient, scalable and shared system of entry and source of truth.  Changes are processed with quick turnaround times, accuracy and data quality while new requests for hierarchies can be turned around within less than a day versus taking well over two weeks previously.  DRM enables a self-service MDM environment for business users, who are further able to run what-if scenarios on-demand to evaluate the impact of planned changes. Once finalized, these changes can then be committed to production in ‘real time’ – enabling flexible, agile, real-time business processes.

For more information on our MDM solutions, visit us at http://www.oracle.com/goto/mdm.

Monday Jul 15, 2013

MDM & Data Governance Summit - San Francisco

Are you based in the bay area or plan to be in the bay area on July 17-18? If so, we would love to see you at the MDM & Data Governance Summit at the Hyatt, Fisherman's Wharf. Hear Doug Cosby, Vice President, Research & Development present on Thursday, July 18th at 10:50AM-11:40AM with Jeff Slatter, Associate Vice President at TD Bank, the 6th largest bank in North America.  Doug will be introducing the addition of Oracle Data Relationship Governance to the Oracle MDM & Data Governance portfolio. Learn how your organization can benefit from Oracle’s latest innovations in MDM and Data Governance to construct an agile enterprise.

To register at a discounted rate of $495 (save $300), use this registration link. To access full conference agenda and logistics, visit the conference site.

We hope to see you there!


Tuesday Jun 25, 2013

Announcing Oracle MDM YouTube Channel!

We are excited about new Oracle MDM YouTube channel where you can watch videos related to Master Data Management. You will find product videos and customer videos. Be sure to subscribe to the channel, so you don't miss out!

Spend a moment to visit us at: http://www.youtube.com/oraclemdm.

Additional Information

Sunday Jun 16, 2013

Church Pension Group Leverages Fusion Customer Hub and Delivers Critical Data to the Business

Hear about how Fusion Customer Hub is exactly what Church Pension Group needed to provide the right data in a timely manner to the line of business.  Church Pension Group used Fusion Customer Hub to provide best-in-class capabilities around MDM and their multiple source systems. Check out the latest video below. 

Wednesday Jun 12, 2013

Allianz Group Turns to Oracle Master Data Managent for Customer Insight

Allianz Group's challenge was to get a single, consolidated view in order to better service their customers. They chose Oracle, as the best fit for their existing applications. Customer segmentation, behavior, preferences were all critical to Allianz. Oracle MDM connected to many of their applications for a comprehensive, trusted, relevant view of their customer data. For more information on Oracle Master Data Management click here.  Take a look at this video testimonial from Allianz...

Wednesday Jun 05, 2013

Elsevier Gains Customer Insight and More with Oracle Customer Hub

Oracle's Customer Experience solutions and use cases work hand-in-hand with Oracle Customer Hub (key product of Oracle Master Data Management).  Now, don't just take our word for it , listen to Elsevier, world's leading information and content provider for Medical, Technical and Scientific markets.  Hear how Elsevier leveraged Customer Hub to gain better customer insight, why they chose Oracle, and how they can serve customers better across all touchpoints.  

Monday Apr 29, 2013

Upcoming Webcast: Enriching the Customer Experience with Oracle Enterprise Data Quality and Oracle Commerce

 

Imagine a commerce customer experience that was driven by relevant product and customer data.  A data-driven strategy powered by Enterprise Data Quality offers the commerce customer or potential customer information that is cleansed, standardized, and most importantly relevant.  Knowing the correct information about a customer, their purchasing history, orders as well as details about the product you are considering to buy all contribute to a satisfying, repeatable commerce experience.  Tune into this webcast titled Data Quality – Driving More Personalized Commerce Experiences” and you will learn how Oracle Commerce and Oracle Enterprise Data Quality are the perfect combination to cleanse and standardize product and customer data from multiple sources and automatically optimize product and customer information to support your commerce channel. This webcast is hosted by Michael Hylton, Senior Principal Product Marketing Director -- CX and CRM, and Mala Narasimharajan, Principal Product Marketing Director -- Fusion Middleware, of Oracle. Click here to register.

Monday Apr 22, 2013

Latest MDM Screencast Now Available: Masters of the Data

Oracle Master Data Management recently had a great opportunity to be a part of Oracle Fusion Middleware's Screencast program titled The New Business Imperative: Social, Mobile, Cloud. Each week this screencast series features a different Middleware offering and the series currently features MDM.  The title of the screencast is Masters of the Data: CIOs Tune into Data Quality and Master Data Management. For more information on Oracle MDM click here.

 

Saturday Mar 16, 2013

Ready for the Gartner MDM Summit Next Week? We Are...

Conference

The Gartner MDM Summit is almost here !! Oracle is a PLATINUM sponsor of this event and geared up for a great show next week. We have an information-packed session planned with SONY PlayStation as our featured customer for the session.  I strongly urge those of you attending the conference next week to make it a point to attend -- you won't regret it. 

Our session next week is centered around a customer case study, hear what worked for them, why they chose Oracle and the value of MDM.

  • Oracle Customer Case Study Session: "From Strategy to Operational Excellence", Sree Vaidyanathan - SONY PlayStation   March 21, 2013 4-5PM Room: Texas A                       

In addition to the case study session - don't miss visiting our demo pod for live demos of MDM and Enterprise Data Quality.  For more informatimon on Oracle's session click here.  

Thursday Jan 17, 2013

Why Should CIOs Care About MDM, Data Governance and Data Quality?

See full size image

 

 

Master Data Management, Data Quality and Data Governance are more important than ever when it comes to consolidation, standardization and accountability for data.  A growing number of C level executives are seeing that enterprises need these solutions to supplement the multitude of applications already installed and deployed in their organization.  Take a look at this article on the oracle.com's C-Central site http://www.oracle.com/us/c-central/cio-solutions/information-matters/importance-of-data/index.html and read about the MDM, Data Quality and Data Governance trifecta.

 

Friday Dec 07, 2012

Reference Data Management and Master Data: Are they Related ?

Submitted By:  Rahul Kamath 

Oracle Data Relationship Management (DRM) has always been extremely powerful as an Enterprise Master Data Management (MDM) solution that can help manage changes to master data in a way that influences enterprise structure, whether it be mastering chart of accounts to enable financial transformation, or revamping organization structures to drive business transformation and operational efficiencies, or restructuring sales territories to enable equitable distribution of leads to sales teams following the acquisition of new products, or adding additional cost centers to enable fine grain control over expenses. Increasingly, DRM is also being utilized by Oracle customers for reference data management, an emerging solution space that deserves some explanation.

What is reference data? How does it relate to Master Data?

Reference data is a close cousin of master data. While master data is challenged with problems of unique identification, may be more rapidly changing, requires consensus building across stakeholders and lends structure to business transactions, reference data is simpler, more slowly changing, but has semantic content that is used to categorize or group other information assets – including master data – and gives them contextual value. In fact, the creation of a new master data element may require new reference data to be created. For example, when a European company acquires a US business, chances are that they will now need to adapt their product line taxonomy to include a new category to describe the newly acquired US product line. Further, the cross-border transaction will also result in a revised geo hierarchy. The addition of new products represents changes to master data while changes to product categories and geo hierarchy are examples of reference data changes.1

The following table contains an illustrative list of examples of reference data by type. Reference data types may include types and codes, business taxonomies, complex relationships & cross-domain mappings or standards.

Types & Codes

Taxonomies

Relationships / Mappings

Standards

Transaction Codes

Industry Classification Categories and Codes, e.g.,
North America Industry Classification System (NAICS)

Product / Segment; Product / Geo

Calendars (e.g., Gregorian, Fiscal, Manufacturing, Retail, ISO8601)

Lookup Tables
(e.g., Gender, Marital Status, etc.)

Product Categories

City à State à Postal Codes

Currency Codes (e.g., ISO)

Status Codes

Sales Territories
(e.g., Geo, Industry Verticals, Named Accounts, Federal/State/Local/Defense)

Customer / Market Segment; Business Unit / Channel

Country Codes
(e.g., ISO 3166, UN)

Role Codes

Market Segments

Country Codes / Currency Codes / Financial Accounts

Date/Time, Time Zones
(e.g., ISO 8601)

Domain Values

Universal Standard Products

and Services Classification (UNSPSC), eCl@ss

International Classification of Diseases (ICD) e.g.,
ICD9
à IC10 mappings

Tax Rates

Why manage reference data?

Reference data carries contextual value and meaning and therefore its use can drive business logic that helps execute a business process, create a desired application behavior or provide meaningful segmentation to analyze transaction data. Further, mapping reference data often requires human judgment.

Sample Use Cases of Reference Data Management

Healthcare: Diagnostic Codes

The reference data challenges in the healthcare industry offer a case in point. Part of being HIPAA compliant requires medical practitioners to transition diagnosis codes from ICD-9 to ICD-10, a medical coding scheme used to classify diseases, signs and symptoms, causes, etc. The transition to ICD-10 has a significant impact on business processes, procedures, contracts, and IT systems. Since both code sets ICD-9 and ICD-10 offer diagnosis codes of very different levels of granularity, human judgment is required to map ICD-9 codes to ICD-10. The process requires collaboration and consensus building among stakeholders much in the same way as does master data management. Moreover, to build reports to understand utilization, frequency and quality of diagnoses, medical practitioners may need to “cross-walk” mappings -- either forward to ICD-10 or backwards to ICD-9 depending upon the reporting time horizon.

Spend Management: Product, Service & Supplier Codes

Similarly, as an enterprise looks to rationalize suppliers and leverage their spend, conforming supplier codes, as well as product and service codes requires supporting multiple classification schemes that may include industry standards (e.g., UNSPSC, eCl@ss) or enterprise taxonomies. Aberdeen Group estimates that 90% of companies rely on spreadsheets and manual reviews to aggregate, classify and analyze spend data, and that data management activities account for 12-15% of the sourcing cycle and consume 30-50% of a commodity manager’s time. Creating a common map across the extended enterprise to rationalize codes across procurement, accounts payable, general ledger, credit card, procurement card (P-card) as well as ACH and bank systems can cut sourcing costs, improve compliance, lower inventory stock, and free up talent to focus on value added tasks.

Change Management: Point of Sales Transaction Codes and Product Codes

In the specialty finance industry, enterprises are confronted with usury laws – governed at the state and local level – that regulate financial product innovation as it relates to consumer loans, check cashing and pawn lending. To comply, it is important to demonstrate that transactions booked at the point of sale are posted against valid product codes that were on offer at the time of booking the sale. Since new products are being released at a steady stream, it is important to ensure timely and accurate mapping of point-of-sale transaction codes with the appropriate product and GL codes to comply with the changing regulations.

Multi-National Companies: Industry Classification Schemes

As companies grow and expand across geographies, a typical challenge they encounter with reference data represents reconciling various versions of industry classification schemes in use across nations. While the United States, Mexico and Canada conform to the North American Industry Classification System (NAICS) standard, European Union countries choose different variants of the NACE industry classification scheme. Multi-national companies must manage the individual national NACE schemes and reconcile the differences across countries. Enterprises must invest in a reference data change management application to address the challenge of distributing reference data changes to downstream applications and assess which applications were impacted by a given change.

References
1 Master Data versus Reference Data, Malcolm Chisholm, April 1, 2006.

Friday Nov 30, 2012

Oracle Product Leader Named a Leader in Gartner MQ for MDM of Product Data Solutions

Gartner recently Oracle as a leader in the MQ report for MDM of Product Data Solutions.  They named Oracle as a leader with the following key points: 

  • Strong MDM portfolio covering multiple data domains, industries and use cases
  • Oracle PDH can be a good fit for Oracle EBS customers and can form part of a multidomain solution:
  • Deep MDM of product data functionality
  • Evolving support for information stewardship
For  more information on the report visit Oracle's Analyst Relations blog at  http://blog.us.oracle.com/dimdmar/.  To learn more about Oracle's product information solutions for master data management click here

Figure 1.Magic Quadrant for Master Data Management of Product Data Solutions

Saturday Nov 10, 2012

Oracle - A Leader in Gartner's MQ for Master Data Management for Customer Data

 

The Gartner MQ report for Master Data Management of Customer Data Solutions is released and we're proud to say that Oracle is in the leaders' quadrant.  Here's a snippet from the report itself:

 " “Oracle has a strong, though complex, portfolio of domain-specific MDM products that include prepackaged data models. Gartner estimates that Oracle now has over 1,500 licensed MDM customers, including 650 customers managing customer data. The MDM portfolio includes three products that address MDM of customer data solution needs: Oracle Fusion Customer Hub (FCH), Oracle CDH and Oracle Siebel UCM. These three MDM products are positioned for different segments of the market and Oracle is progressively moving all three products onto a common MDM technology platform..." (Gartner, Oct 18, 2012) 

Figure 1.Magic Quadrant for Master Data Management of Customer Data Solutions

For more information on Oracle's solutions for customer data in Master Data Management, click here.  

Friday Nov 02, 2012

Enterprise Data Quality - New and Improved on Oracle Technology Network

Looking for Enterprise Data Quality technical and developer resources on your projects? Wondering where the best place is to go for finding the latest documentations, downloads and even code samples and libraries?  Check out the new and improved Oracle Technical Network pages for Oracle Enterprise Data Quality.  This section features developer forums as well for EDQ and Master Data Management so that you can connect with other technical professionals who have submitted concerns or posted tips and tricks and learn from them.  Here are the links to bookmark: 

 

 


Tuesday Oct 30, 2012

Master Data Management - The Trend Towards Multi-Domain and Other Realities

In my quest to keep my fingers on the pulse of MDM, I recently found a pretty interesting article.  The article was published in Information Week and provides some interesting statistics from a recent survey conducted by the analyst firm, The Information Difference.  Let's take a look:

  • Of the 130 organizations surveyed, 53% have live operational MDM implementations
  • 81% of those with live operational MDM implementations report broad success - a huge improvement over 2011's 54%
  • 64% developed a business case prior to their MDM deployment, while a daring 32% went ahead without a business case.   
The article goes on to talk about the shift in vendors from focusing on customer data and product information management to one that is oriented around multi-domain master data management as well as other realities around MDM.  Take a look at the article. For more information on Oracle's master data management suite, click here


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