Friday Mar 21, 2014

Master Data Management: How to Avoid Big Mistakes in Big Data

Big Data Quality MDM

Master Data Management: How to Avoid Big Mistakes in Big Data

The paradigm-changing potential benefits of big data can't be overstated—but big changes can deliver big risks as well. For example, exploding data volumes naturally create a corresponding increase in data correlations, but as leading experts warn, correlations should not be mistaken for causes.

To avoid drawing the wrong conclusions from big data, organizations first need a way to assemble reliable master data to analyze. Then they need a way to put those conclusions and that data to work operationally, in the systems that govern and facilitate their day-to-day operations.

Master data management (MDM) helps deliver insightful information in context to aid decision-making. It can be used to filter big data, isolating and identifying key entities and shrinking the dataset to a manageable size for parsing, tagging, and associating with operational system records. And it provides the key intersecting point that enables organizations to map big data results to operational systems that are built on relational databases and structured information.

Adopting master data management capabilities helps organizations create consolidated, consistent, and authoritative master data across the enterprise, enabling the distribution of master information to all operational and analytical applications, including those that contain customer, product, supplier, site, and financial information.

Oracle Master Data Management drives results by delivering the ability to cleanse, govern, and manage the quality and lifecycle of master data.

To learn more about the importance of MDM as an underlying technology that facilitates big data initiatives, read an in-depth Oracle C-Central article, "Masters of the Data: CIOs Tune into the Importance of Data Quality, Data Governance, and Master Data Management."

And don't miss the new Oracle MDM resource center. Visit today to download white papers, read customer stories, view videos, and learn more about the full range of features for ensuring data quality and mastering data in the key domains of customer, product, supplier, site and financial data.

Thursday Jan 30, 2014

Oracle Value Chain Summit - February 3rd-5th, 2014

Are you based out of the Bay Area? 

Join more than 1,000 of your peers at the Value Chain Summit to learn how smart companies are transforming their supply chains into information-driven value chains. This unparalleled experience will give you the tools you need to drive innovation and maximize revenue. As you plan for this Summit don’t miss out on our 2 Product Information Management sessions where you will hear how customers today face the pressure points to get their products to market, achieve operational excellence and stay competitive!

Date: February 3-5, 2014
Location: San Jose McEnery Convention Center

Click here to learn more

Product Information Management: Effective  Multi-Channel Commerce with Product Information Management

Featuring: Pampered Chef

Speakers: Shaibal Talukder, Pampered Chef and Bruck Assefa and Dhiman Bhatacharjee, Oracle Customers today face many pressure points in order to get their products to market through multiple sales and distribution channels.  In today’s multi-channel commerce environment, it is critical more than ever to provide relevant, accurate and timely product data to end-consumers to increase sales and provide superior customer experience. Achieving these goals requires robust tools and governance processes including a central repository for self-service product data onboarding, embedded data quality for cleansing and standardizing, and governance workflows to orchestrate product definitions and change management processes. In this session you will learn how Oracle Product Hub and Enterprise Data Quality can help you master your product information effectively for your multi channel commerce initiatives.

Fusion Product Hub: The Foundation for your Enterprise Product Information

Featuring: CDW and Kaygen

Speakers: Sachin Patel and Milan Bhatia, Oracle, Tamer Chavusholu, Kaygen, Karl Schulz, CDW How much do you trust your product data to give you a competitive advantage and operational excellence in your enterprise? In today’s dynamic and competitive business environment, where faster product launches, cost efficiency, and regulatory compliance are a necessity, many enterprises struggle with achieving consistent, high-quality product data that provides significant business value. This session shows how to achieve a solid Product Information Management Foundation with Oracle Fusion Product Hub and the Oracle Enterprise Data Quality platform. Learn about best practices and differentiated capabilities for the Fusion Product Hub with case study from a marquee customer.

Wednesday Aug 14, 2013

Master Data—and Deliver a Great Customer Experience

In the fast-paced world of the connected consumer, expectations run high. Every time customers interact with a company, they want a positive, relevant, and personalized experience. If they don’t get it, today’s empowered customers won’t hesitate to leave. Yet many companies can’t deliver great personal experiences to their customers because they are struggling with siloed information systems and processes that fail to provide complete and accurate data to sales, support, and marketing teams. 

In the new white paper by Harvard Business Review Analytic Services, “Delivering on the Promise of Great Customer Experiences,” learn from several forward-thinking organizations—in industries ranging from travel to telecommunications—how to use Master Data Management (MDM) to collect and integrate all types of internal and external data and create the consistent, connected, and personalized experiences that customers want. Oracle Master Data Management offers the most complete product line on the market, enabling organizations to cleanse, centralize, and govern to create a “master” version of customer and business data—and the foundation for an improved customer experience strategy. Find out how your organization can enrich the customer experience.

Read the whitepaper today!

For more information on Master Data Management, visit us on oracle.com - www.oracle.com/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!


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.

 

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.

Wednesday Oct 24, 2012

Oracle and ROLTA: Collaboration for Analytical Master Data Management

Oracle and ROLTA have joined forces to put together an educational webinar series on best practices for maximizing data integrity using analytical master data management.  Hear replays of webcasts by Gartner as well as customer success at Navistar and learn how Master Data Management in the enterprise is the right choice for heterogeneity, data degradation and improved analysis of your business. For more information on this collaboration click here. For additional information on Oracle's solution suite for MDM, click here

Monday Oct 08, 2012

The MDM Journey: From the Customer Perspective

Master Data Management is more than just about a single version of  the truth or providing a 360 degree view of the customer.  It spans multiple domains ranging from customers to suppliers to products and beyond.  MDM is pivotal to providing a solid customer experience - one that results in repeat business, continued loyalty and last but not least - high customer satisfaction.  Customer experience is not only defined as accurate information about the customer for the enterprise, but also presenting the customer with the right information about products, orders, product availability, etc.   Let's take a look at a couple of customer use cases with Oracle MDM.

Below is a picture from a recent customer panel:

Oracle MDM is a key platform for increasing upsell/cross-sell opportunities, improve targeting of customers and uncover new sales opportunies, reduce inaccuracies in mailing marketing materials to prospects, as well as to tap into and uncover the full value of a customer across business units more accurately.  A leading investment and private bank leverages Oracle MDM to do a better job of identifying clients, their levels of investment as well as consistently manage them through a series of areas such as credit, risk, new accounts, etc. Ultimately, they are looking to understand client investments and touchpoints across the company's offerings.  Another use case for Oracle MDM is with a major financial and insurance services company with clients worldwide, looking to resolve customer data inaccuracies and client information stored differently across mulitiple systems. 

For more information on Oracle Master Data Management, click here.  

Sunday Sep 30, 2012

Vitality of Product Information Management Showcased at OpenWorld 2012

 By Sachin Patel

Can you hear the countdown clock ticking!! OpenWorld 2012 is almost here and as I write this Oracle is buzzing with fresh new ideas and solutions that will be showcased this year. What an exciting time for all of us to be in midst of a digital revolution. Whether it is Apple fans clamoring to find every new feature that has been added to the iPhone 5 or a startup launching a new digital thermostat (has anyone looked at the new one from Nest ), product information is a vital for companies to grow and compete in this cut-throat market. Customer today struggle to aggregate and enrich this product data from the myriad of systems they have in place to run their businesses and operations. Having a product information strategy is paramount to align your sales channels and operations with the most accurate and upto date product data.

We have a number of sessions this year at OpenWorld where you can gain more insight into how Oracle’s next generation of Fusion Applications, in this case Fusion Product Hub can provide you with a solution to streamline and get control of your Product Master Data.

Enabling Trusted Enterprise Product Data with Oracle Fusion Product Hub
Tuesday, October 2nd 11:45 am, Moscone West 2022

Join me Sachin Patel, Director of Product Strategy and Milan Bhatia, VP of Development as we discuss how you can enable trusted product master data in your enterprise. In this session we plan to cover the challenges companies face today in mastering product data. The discussion will also include how Fusion Product Hub brings new and innovative features to empower your product data owners to create a holistic and rich product definition that can be leveraged across your enterprise. We will also be joined by Pawel Fidelus from Fideltronik an Early Adopter for Fusion Product Hub who will showcase their plans to implement Fusion Product Hub and the value it will bring to Fideltronik

Multichannel Fulfillment Excellence in Direct-to-Consumer Market Thursday, October 4th, 12:45 am, Moscone West 2024

Do you have multiple order capture systems? Do you have difficulty in fulfilling orders for your customers across various channels and suppliers? Mark Carson, Director, Fusion DOO and Brad Kerr, Director, AGSS will be showcasing the Fusion Distributed Order Orchestration solution and how companies can orchestrate orders from multiple order capture systems and route them to the appropriate fulfillment system. Sachin Patel, Director Product Strategy for Product MDM will highlight the business pain points in consolidating and commercializing data from a Multi Channel Commerce point of view and how Fusion Product Hub helps in allowing you to provide a single source of truth to drive a singular and rich customer experience.

Oracle Fusion Supply Chain Management: Customer Adoption and Experiences                                                Wednesday, October 3rd 10:15 am, Moscone West 2003

This is a great session to attend to learn about how Fusion Supply Chain Management and Fusion Product Hub Early Adopters, including Boeing and Fideltronik are leveraging Fusion Applications to improve their Supply Chain operations.

Have a great OpenWorld and see you soon!!

Thursday Sep 27, 2012

Oracle Product Hub: Customer Perspectives at the OpenWorld

 By Rohit Tandon

The Oracle Product Hub (OPH) Product Strategy team will be hosting a customer session dedicated to OPH at Oracle Openworld. Oracle Product Information Management strategy team will have the pleasure to present this session with Motorola Mobility Solutions.  .

In this session, you will hear how Motorola Solutions utilizes OPH to meet their IT and business needs. Arif Girniwala, (MDM Lead, Motorola) and Chirag Jariwala (Manager, Deloitte Consulting) will cover the following topics amongst others:

  1. How does Motorola Solutions decide on what is Product Master Data for their enterprise?
  2. What are the Data Governance structures, Users, User roles, User Security etc. within Motorola Solutions? 
  3. How does Motorola Solutions integrate, synchronize and leverage OPH with Agile PLM?

      4.  What is the Oracle Product Hub strategy and roadmap (Speaker - Sachin Patel, Director Oracle Product Hub Strategy)

      5.  What are the implementation best practices for Oracle Product Hub (Speaker - Srikant Bevara, Sr. Manager, Oracle   Product Hub product management)

If you're interested in hearing more about the above then I recommend attending this session:

Customer Perspectives: Master Product Data: Strategies for Effective Product Information Management with Motorola Mobility Solutions (CON8834)

Tuesday October, 2nd 10:15am - 11:15am

Moscone West - 3001

We hope to see you at OOW 2012 and stay in touch via our future blogs!  For a list of all Oracle MDM sessions click here


Oracle Customer Hub - Directions, Roadmap and Customer Success

 By Gurinder Bahl

With less than a week from OOW 2012, I would like to introduce you all to the core Oracle Customer MDM Strategy sessions.

Fragmentation of customer data across disparate systems prohibits companies from achieving a complete and accurate view of their customers. Oracle Customer Hub provide a comprehensive set of services, utilities and applications to create and maintain a trusted master customer system of record across the enterprise. Customer Hub centralizes customer data from disparate systems across your enterprise into a master repository. Existing systems are integrated in real-time or via batch with the Hub, allowing you to leverage legacy platform investments while capitalizing on the benefits of a single customer identity.

Don’t miss out on two sessions geared towards Oracle Customer Hub:  

1) Attend session CON9747 - Turn Customer Data into an Enterprise Asset with Oracle Fusion Customer Hub Applications at Oracle Open World 2012 on Monday, Oct 1st, 10:45 AM - 11:45 AM @ Moscone West – 2008.

Manouj Tahiliani, Sr. Director MDM Product Management will provide insight into the vision of Oracle Fusion Customer Hub solutions, and review the roadmap. You will discover how Fusion Customer MDM can help your enterprise improve data quality, create accurate and complete customer information,  manage governance and help create great customer experiences. You will also understand how to leverage data quality capabilities and create a sophisticated customer foundation within Oracle Fusion Applications. You will also hear Danette Patterson, Group Lead, Church Pension Group talk about how Oracle Fusion Customer Hub applications provide a modern, next-generation, multi-domain foundation for managing customer information in a private cloud.

2)  Don't miss session  CON9692 - Customer MDM is key to Strategic Business Success and Customer Experience Management at Oracle Open World 2012 on Wednesday, October 3rd 2012 from 3:30-4:30pm @ Westin San Francisco Metropolitan 1.

JP Hurtado, Director, Customer Systems, will provide insight on how RCCL overcame challenges of data quality, guest recognition & centralized customer view to provide consolidated customer view to multiple reservation, CRM, marketing, service, sales, data warehouse and loyalty systems. You will learn how Royal Caribbean Cruise Lines (RCCL), which has over 30 million customer and maintain multiple brands, leveraged Oracle Customer Hub (Siebel UCM) as backbone to customer data management strategy for past 5 years.

Gurinder Bahl from MDM Product Management will provide an update on Oracle Customer Hub strategy, what we have achieved since last Open World and our future plans for the Oracle Customer Hub. You will learn about Customer Hub Data Quality capabilities around data analysis, cleansing, matching, address validation as well as reporting and monitoring capabilities.

The MDM track at Oracle Open World covers variety of topics related to MDM. In addition to the product management team presenting product updates and roadmap, we have several Customer Panels, and Conference sessions. You can see an overview of MDM sessions here

Looking forward to see you at Open World, the perfect opportunity to learn about cutting edge Oracle technologies. 

Wednesday Sep 26, 2012

The Oracle MDM Portfolio & Strategy Session - It All Comes Down to Master Data

 By Narayana Machiraju

We are less than a week now from the start of Oracle Open World 2012 and I would like to introduce you all to one of the most awaited MDM strategy sessions this year titled “What’s there to Know about Oracle’s Master Data Management Portfolio and Roadmap?”. Manouj Tahiliani, Senior Director of MDM Product Strategy provides you a complete picture of the Oracle MDM Portfolio, the Product releases, the Strategy and the Roadmaps.

Manoj will be discussing Oracle Fusion MDM applications, the first enterprise-grade SaaS MDM product suite. You’ll hear strategies for leveraging MDM and data quality in the enterprise and how you can derive business value by deploying an MDM foundation for strategic initiatives such as customer experience management, product innovation, and financial transformation. And as a bonus, he is also going to discuss the confluence of MDM with emerging technologies such as big data, social, and mobile.

The session is co-presented by GEHC and Westpac. Tony Craddock from Westpac is going to share the insights of their MDM Implementation in the lines of Business drivers, data governance, ROI and other important implementation considerations. A reprsentative from GEHC is going to talk about their MDM journey and the multi-domain MDM story. I strongly recommend yo not miss this important session


The MDM track at Oracle Open World covers variety of topics related to MDM. In addition to the product management team presenting product updates and roadmap, we have several Customer Panels, Conference sessions and Customer round table sessions featuring a lot of marquee Customers. You can see an overview of MDM sessions here

80 Years of Supplier Misinformation: How can Oracle Supplier Hub Help?

By Mark Peachey

Manufacturing: Component parts manufacturing worker

Well, we're down to the final week before this year's Oracle Open World conference kicks-off on Sunday and there's still plenty of work to be done to be ready in time.  One of the great benefits I think that attendees get from Open World is the opportunity to listen to other organizations talk about their implementation experiences.  Typically, these sessions provide hugely valuable insights that have been gained during a deployment, delivering a wealth of practical information on what it really takes to get an organization up and running with a new module or a revamped business process.

And I'm not just saying this because we're lucky enough to have one of our early implementers join us for this year's Supplier Hub/Supplier Lifecycle Management MDM session!  With a multi-phased deployment underway, this customer is working to fix a long, 80-year history without much in the way of formal processes or tools to manage all of their accumulated supplier information.  Faced with a mess of supplier details, they had been challenged to efficiently track supplier spend, monitor performance, maintain qualification information or carry out meaningful risk analysis.  Join us on Wednesday to hear how they are addressing these issues and the plans they have to evolve their supplier management techniques - it's a great story.

CON9242:Oracle Supplier Lifecycle Management and Oracle Supplier Hub for Better Supply Base Management 
Wednesday, October 3rd at 1:15 PM PT InterContinental Hotel, Sutter Suite 

 

For information on other Oracle MDM sessions at OOW click here

Monday Sep 24, 2012

Looking to Implement/Upgrade Your MDM Solution? OOW Has the Session For You

By Bala Mahalingam 

Hurray!  Oracle Open World next week.  Oh my God!  I need to plan my calendar for MDM focused sessions. The implementation/upgrade of Oracle Master Data Management solution is an art & science combined.

This year at Open World, we have a dedicated session focused on sharing two great implementation stories of Oracle Customer Hub. Also hear from Oracle on the implementation/upgrade approach and methodology for Oracle Master Data Management and Data Quality applications.

Here are some of the questions that you might be thinking around the implementation of Oracle MDM solution.

If you are in the process of implementation / upgrade or evaluating the options for implementation of MDM solution and you would like to hear directly from T-Mobile and Sony on their roadmap and implementation experience, then I would highly recommend this session.

 

 

Hope to see you at Oracle Open World 2012 and stay in touch via our future blogs. Look here for a list of all the MDM sessions at OpenWorld.

About

Get the latest on all things related to Oracle Master Data Management. Join Oracle's MDM Community today.

Follow us on twitter Catch Us on YouTube

Search

Categories
Archives
« April 2014
SunMonTueWedThuFriSat
  
1
2
3
4
5
7
8
9
10
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
   
       
Today