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Great Customer Experiences Start with Enterprise-ready Customer 360

Ankur Gupta, Sr. Product Marketing Manager, Reltio

Blake Morgan, Customer Experience Futurist, makes her point in the Forbes article Five Trends Shaping the Future of Customer Experience In 2019. According to her, “customer experience (CX) is now seen as a key business strategy for every brand.” In a customer-obsessed business culture of the likes of Amazon, customer experience is the game changer and no one can afford to ignore it.

So if the future belongs to customer experience, how ready are you? Who is in charge of customer experience in your organization? How do you ensure security and privacy while personalizing the customer experience? How does your customer experience strategy fit in your organization’s digital transformation strategy? If you have not considered these questions before, it’s time to ask them. Whether you sell toothpaste or cars, customer experience is the key business driver you need to focus on.

While discussing the five emerging trends, Blake Morgan insists that customer experience is not a function of any individual or a specific team. It involves every employee from every facet of the business. Needless to say that such organization-wide participation cannot rely on a point solution for limited use. Customer-first mindset needs customer-first organizational infrastructure to deliver the best experience at every stage of the customer journey. Modern enterprise-wide customer data platforms with Customer 360 present a real-time single customer view to all the business teams to ensure consistent omnichannel customer experience.

You also need to appreciate that the unique and consistent customer experience is not something static, or a design-once task. It is an ongoing activity, constantly responding to the changes in market and customer expectations, new products and services, and technology evolution. Successful organizations are always willing to transcend and continuously re-evaluate processes, products, and business models. Blake notes that transformation triggers like digital growth and a changing economy can dramatically impact customers and completely change the face of customer experience.

Can your business then quickly adapt to these rapidly changing expectations from customer experience? Can you discover, validate, and scale innovative use of existing and new data-sets to deploy products and services faster? Are you able to maximize the ROI of customer experience by continuously unlocking the value of data relationships across people, products, locations, devices, and other newly added data-sets in an increasingly complex digital and regulatory landscape?

The answer is YES if you master data on ML & digital ready data platform with rapid data on-boarding via a flexible data model, to integrate customer data at scale across web, mobile, digital, and in-store touch-points in real time. The highly responsive platform delivers rapid data relationship resolution and data discovery via graph and machine learning technology with Google-like search and visualization of all data objects and their relationships.

In one recent survey by Gartner, 87% of senior business leaders affirm digitization as a top priority and in many cases a do-or-die imperative. The urgency is natural as a Harvard Business School study shows digital leaders posting a three-year average gross margin of 55%, in a sharp contrast to just 37% for digital laggards. For digital transformation to be effective, Blake points out, it must be long-term, continuous, and involve every employee.

If the digital transformation doesn’t have an end date, then is your data platform able to scale infinitely to support your long-term, evolving customer experience? Can it continuously collect and correlate all customer data from internal as well as external, public, and social media? Not just personal data, but all interaction and transactional data across all possible channels? Can your data platform ensure access to the full customer data at all your customer touch-points to fulfill operational responsibilities and provide a delightful customer experience? Can it manage not just the scale of data but the agility and complexity that comes with it? Not just now but in the future, too?

It’s a tall order, especially for team-specific partial solutions designed to deliver only customer experience. Fulfilling every challenge of customer experience across the entire journey and involving every employee is possible only with an enterprise-wide Customer 360 solution.

With a firm handle on managing data across the entire enterprise to continuously refine the customer experience, the next question to ask is if you are leveraging modern technology to achieve it. As Robotic Process Automation (RPA) gains ground, and Machine Learning (ML) makes deep inroads in enterprise systems, the customer experience of future will be fully technology-driven. In this scenario, can your data platform deliver the goods? Can it easily integrate with your ML and AI initiatives as well as upcoming technologies, to automatically uncover customer insights, relationships, and the context of the business they are doing with you? If not, it’s time to switch.

While businesses routinely get hit by disruptive technologies, your customer experience must not. Top companies are investing in future-ready enterprise data platforms to ensure that they can tackle the technology leaps and disruptions. With enterprise-wide Customer 360, they are already reaping the benefits of machine learning to derive actionable insights and weave them in their strategy of delivering the finest and most exciting customer experience.

Blake’s vision of the future of customer experience is strongly rooted in ethics. You must have experienced the rigorous regulations for customer data privacy including GDPR. With the explosion of data in the current times, partly voluntarily given by individuals and partly collected digitally from various sources, protecting customer data is fast becoming critical for organizations. While you need to collect customer data at every touch-point to get a complete profile, you also need to ensure that customers have control of their own private data. Do you have fail-safe processes to guarantee security of customer data? Do you have a data platform that organically lets you capture and comply with how your customers want to engage with you? Does your platform do it in a manner compliant with the ever changing data privacy and regulatory requirements?

A enterprise-wide Customer 360 solution makes it easier for organizations to comply with regulations, by creating a single source of customer information blending profile, interaction, and transaction data from all sources, complete with data governance and trace-ability to meet all compliance needs. With integrated workflows to manage customer change requests and data updates, you can efficiently maintain rights and consents to get a faster time to compliance.

Blake Morgan articulates in her timely and relevant article that “we’re entering a time of great transition in customer experience.” The future belongs to customer experience, and you must take a long-term view to fulfill all future mandates of customer experience. Successful customer-centric companies focus on establishing a data fabric that syndicates the data to every function impacting customer experience, with a strong data foundation that can integrate, harmonize, and organize customer data to drive contextual insights and personalized recommendations.

Time to drop the incomplete and incompetent solutions and invest in a scalable, agile, sustainable Enterprise Data Platform that can deliver the most engaging, truly consistent, and highly personalized customer experience throughout the entire customer journey. Today. For Future.

Case 1. A Large Operator of Golf Courses & Luxury Clubs: Delivering Memorable Experiences and Retaining High-net-worth Members

On a recent business trip a member guest checks in to a country club that is not her home club where she plans to spend a night. The receptionist surprises the member guest by upgrading her stay, giving her a great deal at a local award winning restaurant, and offering to secure discounted tickets for VIP seating for an upcoming concert near her home club as a great way to celebrate her wedding anniversary next month.

The club operator can deliver this delightful experience because it has access to its members’ fresh, rich, and actionable member profiles fueled by Reltio. The company can empower the receptionist with the next best offers and actions aligned with member profile, relationships, preferences, and interaction history. Reltio empowers the club operator to do this for every club member while adhering to privacy and preferences to deliver memorable experiences and retain their high-net-worth members.

Case 2. A Top Global Fast Food Restaurant Chain: Delivering Personalized Customer Experiences across all Engagement Channels

A business traveler is in another town on an international business trip and spot a popular fast-food restaurant which has global footprints. Striding inside in a hurry, he swipes his loyalty card, and the sandwich artist cheerfully asks if he wants to go for his favorite a toasted turkey and cheddar sandwich on wheat bread with extra pickles, or he wants to try out a tuna sandwich this time. With the access to his profile in the POS system, the sandwich artist is well aware of his usual preferences, and that this customer has occasionally chosen tuna sandwich. The dynamically presented customer profile also identifies that the person is traveling from another country, and the sandwich artist offers him a delicious local specialty. A delightful surprise, and the fast food restaurant is already registered in customer’s mind as his best bet for a perfect bite in any new town.

Digital Enterprises: Built on Modern MDM

Ankur Gupta, Sr. Product Marketing Manager, Reltio

The third Modern Data Management annual summit (#DataDriven19) had great minds sharing their MDM success stories and assessing where MDM is headed.

Modern enterprises put data at the heart of every decision to stay competitive. Nice line. But that’s easier said than done. Understanding data to make it work is perhaps the biggest challenge enterprises face today. The reason is simple. With a constant onslaught of data from everywhere, in all shapes and sizes, just “managing” data is not enough. You need much more than that, to make sense out of that huge volume holding a great amount of potential business value.

But how? The picture gets clearer when you hear the top brains in MDM (Master Data Management) sharing their take on it.  

Manish Sood, CEO, Reltio nails it when he labels data as the new sunshine. It’s ubiquitous, powerful, adaptable, and trusted. With the right solution, enterprises can leverage data to adapt faster, compete faster, and deliver faster. And that right solution is modern MDM that goes beyond managing the master data. A modern MDM helps businesses to continuously unlock the value of data relationships among customers, households, stores, locations, products, devices, and suppliers in an increasingly complex digital and regulatory landscape.

While sharing his outlook at the third Modern Data Management Annual Summit in 2019, Aaron Zornes, Chief Research Officer, The MDM Institute, outlined the capabilities required for the next generation MDM platform. According to him, Graph Technology provides the missing link between domains, data analytics, and IoT. He predicts that more and more reliance on Graph will evolve MDM towards “master relationship management”, where analytical upstarts from Graph world will increasingly add operational capabilities for performance and robustness.

Peter Diamandis, CEO, X-Prize Foundation once said, “Every second of every day, our senses bring in way too much data than we can possibly process in our brains.” And that is what Machine Learning offers:  process scalability beyond the human capacity. Aaron Zornes believes that Machine Learning will definitely play a bigger role in the modern MDM, increasingly solving scalability, complexity, and agility issues.

For Aaron, cloud economics is compelling, and the native cloud MDM must keep advancing in the next 2-3 years to meet market expectations while delivering business value.

Michele Goetz, Principal Analyst at Forrester says the new goal of data management should be to “democratize and monetize insights,” eliminating bottlenecks like ownership or enterprise architecture. These insights can reveal valuable customer information, never perceived before. She points out that your customer is hiding in plain sight, you need to tap into all the data to get him out. The modern MDM is the right step in that direction to develop a deeper understanding of the customer. To ensure no wall between data, governance, and insight, she shares her mantras: invest intelligently, source strategically, and collaborate.

Ray ‘R’ Wang, Principal Analyst and Founder, Constellation Research has a very interesting take on data and insights. He suggests that if data is the foundation of digital business, then the future of digital business models will be built on insights. He points out that in an on-demand attention economy, you’re not competing with another company, you’re really competing for time and attention. Every touch point, every click, every digital exhaust is relevant insight, which must be leveraged to get that attention.

Digital Transformation is also on the mind of Scott Taylor, Data Whisperer & Principal Consultant, MetaMeta Consulting. For him, after unlocking value from data with modern MDM, the next logical step is to leverage the master data as the foundation of Digital Transformation and maximize the technology investment. He recognizes that digital transformation brings People, Technology, Processes, and Data together. Of these, master data is the data in-charge!  He strongly believes that master data as the foundation of digital transformation provides semantic consistency, enables deeper interoperability, and drives greater value.

As a closing thought, Aaron Zornes emphasizes that all enterprises need to focus on the next-gen MDM requirements as we move from a “system of record” to add a “system of reference” and ultimately move into a “system of engagement.” He, too, believes that relationship-driven analytics will form the foundation of future MDM, and data-driven, context-driven cognitive applications will fully enable the Digital Enterprise.  

These unique perspectives of the industry thought leaders piece together a holistic picture of the future digital enterprise. A future where modern MDM empowers enterprises to democratize and monetize insights, by unlocking value from data with AI-powered relationship-driven analytics.

If you missed this event, check out the video presentations here to get the latest buzz in the data management industry (Login: dd19@reltio.com | Password: berightfaster)

The Magic of Modern Master Data Management: Making Data Work for Healthcare and Life Sciences

Ankur Gupta, Sr. Product Marketing Manager, Reltio

Digital transformation, big data analytics, and machine learning – the buzzwords echoing the Healthcare & Life Sciences industry signify a new era of delivering connected and personalized customer experience through 360 customer profile.  If you are rethinking customer engagement and planning a better customer experience, we have a very special event lined up for you.

Learn from the experts, catch ideas in panel discussions, and network with top professionals.  The Modern Data Management Summit 2019 taking place in San Francisco, over February 26-27, 2019 is your ticket to discover how modern data management, data science, and business facing data-driven applications are transforming the Healthcare & Life Sciences organizations.

Dedicated Healthcare and Life Sciences Track

My earlier blog posts The Fastest Way to Learn Modern MDM & Personalized Customer 360 and Organize Master Data, Personalize Customer 360: Learn from the Top Industry Experts highlight some of the sessions discussing capabilities of modern data management, reliable customer data for maximum business impact, and best practices for data governance and compliance.

Healthcare and Life Sciences industry is freshly discovering how the huge data they collect can be efficiently and productively managed. We have a dedicated track for this industry covering the specific challenges and success stories in managing data.

Healthcare needs never remain the same for members. They change with time and life events. Delivering members the best experience relevant to their life stages is a top priority for healthcare providers.

The key session on Managing Experience throughout Member Lifecycle will focus on how a data-driven approach succeeds in always delivering value for their member’s needs. An expert panel from Optum, with Maria Perkins, Vice President, Growth Technologies & Proposals, Shanky Krishnan, Sr. Director, Growth Technologies Cloud Platform, Reinaldo Amaral, Director, MDM Data Quality, and Hugh Flood, Program Manager, MDM will discuss leveraging data to manage the experience throughout the member lifecycle.

In a special session, Joanna Walker, Global MDM Architect, AstraZeneca will illustrate how they leveraged Modern MDM for business-driven expansion to tap new markets in North America and Africa. She will elaborate how the cloud-based solution helps them manage more than 15M Healthcare providers and organizations, delivering consistent, reliable data to field reps in diverse global markets.

While business users focus on data analytics for improving business performance, they also know results will be as good as the quality of data they come from. Data quality and ranking capability is valuable for data stewards since it automatically prioritizes work by identifying data high in business value but low in quality.

Jamie Yates, AstraZeneca and Ramya Krishnan, Product Management, Reltio will describe how data stewards can steer their time and efforts for the greatest business impact and increasing productivity, while business users can use these ranks and scores to segment data and maximize business outcomes.

And there is more. Discover the journey of a Top 10 life sciences company through evolving data strategy, various data management use cases, and lessons learned along the way.  Vivian Wu, Senior Manager of Enterprise Data Operations, Marketing Analytics & Business Insights, AbbVie, and Bernie Tucker, Director, Data and Analytic Services, US Commercial Business Technology Solutions, AbbVie will share their insights.  

Master Data Management (MDM) in life sciences has evolved from being the traditional matching of records and creating clean data, to automating the process of collecting and linking disparate data into a single trusted source, and effectively managing the data assets shared across the enterprise. Mukesh Sharma and Suhas Joshi will talk about the Digital Transformation at Syneos Health, the MDM journey, experiences, and learnings.

Get to know what preparing the right data for the first product launch involves, especially when bringing biotech ingenuity to medical dermatology. It needs rigorous planning, correct data strategy, cross systems coordination, agile deployment, and onboarding with failover options. Sahithi Paleti, Manager IT commercial/Medical Affairs Systems, Dermira and Bharat Tandon, Manager, Data Management and Analytics, ZS Associates will discuss their experiences around their data management approach, key challenges, and takeaways while enabling commercial readiness for Dermira’s first product launch.

John Hayes, Associate Vice President, Data Management, Sanofi, David Eller, Associate Director, Commercial Information Strategy, Grifols, and Scott Isaac, Director Global Business Intelligence Lead, Pfizer will explore customer data management strategies in the light of new customer expectations, new business models, and new compliance requirements.

Mark your calendar: February 26-27, 2019

The most focused #DataDriven19 event for all you need to know about modern data management and delivering personalized customer experience.

Learn more and request an invite at https://www.reltio.com/events/dd19

Organize Master Data, Personalize Customer 360: Learn from the Top Industry Experts

Ankur Gupta, Sr. Product Marketing Manager, Reltio

If connected and personalized customer experience is your immediate goal, and if you want to know everything about achieving it, look no further. Focusing on the modern way to organize master data, the upcoming Modern Data Management Summit 2019 is the best event to learn about big data analytics and machine learning to deliver personalized customer experience through 360 customer profile.

Sounds impressive? Don’t just take our word. Discover yourself. Join us in the most exciting #DataDriven19 event in San Francisco, CA. The summit promises the choicest real-world knowledge sharing sessions, unique panel discussions, and delightful industry networking opportunities.

Mark your calendar: February 26-27, 2019

With over 40 sessions featuring 60 speakers, the summit has three tracks – Modern Data Management, Personalize Customer 360, and Healthcare & Life Sciences. The best minds in industry discuss the hottest topics relevant to master data management, customer 360, data science, and business facing data-driven applications.

Rob Fuller, Digital Solution Architect, Principal Director, Accenture, will present the business and technology challenges of achieving true omni-channel marketing, and how Accenture and Reltio are joining hands in significantly reducing the time and effort required to deliver the finest omni-channel customer experience.

The master data management platforms are evolving to meet the needs of the digital economy. Aaron Zornes, Chief Research Officer, The MDM Institute will speak about the capabilities required for the next generation MDM platform that incorporates graph technology, infuses insights from the data using advanced analytics and machine learning, and offers big data scale performance in the cloud.

Michele Goetz, Principal Analyst, Forrester will discuss how businesses can transform customer experience, business models, and market competitiveness by investing in the right technology innovation, embedding intelligence into all tiers of their data management systems, and work toward customer insight systems that accelerate results.

Success Stories and Industry Best Practices

When the European regulation GDPR came into effect last year changing the way we manage personal data, it was time for businesses to rethink their data management. Srilakshmi Goparaju, Master Data Management Expert at Equinix will explore the key business benefits of using MDM to address compliance needs and how they can be smartly turned into business opportunities.

Modernizing data infrastructure and building an enterprise customer master across all acquired businesses help improve the end-to-end customer experience and uncovers new business opportunities. In an exciting session, Suresh Jawahar, Director Data Governance & MDM, Advance Auto Parts (AAP) will discuss the best practices for data management including data governance, and leveraging reliable customer data for advanced analytics to create the maximum business impact.

Omer Iqbal, Senior Vice President – Global Architecture – Digital Center of Excellence, Shiseido, will share what digital experience means for one of the leading beauty products enterprises, and how a new vision of beauty is delivered through data-driven digital strategy.

Enterprises recognize the value of connected experiences through every stage of customer journey, and want to provide relevant offers to maximize the customer lifetime value. Shree Seshan, Director – Digital IT – Data Management & Strategy, L’Oreal will explore how some of the leading organizations are succeeding in digital transformation to achieve personalized, connected customer experience in a compliant manner.

My earlier blog post The Fastest Way to Learn Modern MDM & Personalized Customer 360 highlights some more sessions on digital transformation, machine learning-enabled data management, and mega-trends around Customer 360.

Make the most of this #DataDriven19 event to stay ahead of the curve on your data strategy, digital transformation efforts, and business goals.

Learn more and request an invite at https://www.reltio.com/events/dd19

#DataDriven19 – The Fastest Way to Learn Modern MDM & Personalized Customer 360

Ankur Gupta, Sr. Product Marketing Manager, Reltio

Learn more and request an invite at https://www.reltio.com/events/dd19

The third Modern Data Management annual summit (#DataDriven19) will be held on February 26-27 2019 in San Francisco. It will have over 40 sessions and panels featuring 60 speakers.

There will be three tracks – Modern Data Management, Personalize Customer 360, and Healthcare & Life Sciences. This year’s theme “Organize Master Data. Personalize Customer 360” will cover the hottest topics relevant to master data management and customer 360, big data analytics, data science and business facing data-driven applications.

Some of the not-to-be-missed sessions are –

Learn from Ray ‘R’ Wang, Principal Analyst and Founder, Constellation Research how AI driven analytics will transform the future of business.

Michele Goetz, Principal Analyst at Forrester will discuss the pragmatic approach to machine learning enabled data management that delivers real business outcomes.

Manish Sood, CEO, Reltio will look at how leading digital organizations are using technology to meet the trust, privacy and customer experience needs today and preparing for the future.

As a data professional you face the convergence of mega-trends around Customer 360, AI, Big Data, programmatic marketing, ABM, and globalization. Scott Taylor, Data Whisperer & Principal Consultant, MetaMeta Consulting would discuss how to survive these unrelenting business pressures by putting your data to work!

Kevin McBride, Director, WW, Sales Data Management, HP Inc. will discuss the digital transformation journey at HP and how data management at scale helped enabled the transformation. Session will review multi-domain use cases for using data management at scale to build single view of customers with complex hierarchies.

Joanna Walker, Global MDM Architect, AstraZeneca (AZ) will discuss how AZ Center of Excellence team manage their cloud MDM platform as a service globally and innovative ways in which the AZ business is using MDM to provide reliable data to field reps.

Rick Camp, Principal & Founder Forward360 LLC will discuss a modern definition of patient centricity and provide insights into how agile Master Data Management (MDM) enables relevant & personalized patient engagement and commercial success.

There will be many more exciting sessions and panels from across the industry to set you on the right path for data-driven digital transformation for 2019.

Summit will also recognize leaders in IT and business with The Data Genius Awards. The recipients have blazed the trail for their creative use of data for the benefit of their companies raising their Enterprise Data IQ every day through continuous Data Organization and Customer 360.

Overall the event promises best in the industry networking opportunity and educational sessions that will offer new ways for companies to think about their data in the new digital economy. It will not be just about work; a fabulous evening reception on 2/26 will give you ample opportunity to mingle and play while enjoying amazing view of the beautiful San Francisco city!

We are all hands on deck working to make #DataDriven19 the most informative data management event of 2019.

Data Secrets to A Successful Drug Launch

Ankur Gupta, Sr. Product Marketing Manager, Reltio

Value from pharma should be measured in terms of clinical outcomes, patient satisfaction, and cost reduction. Using data, pharma companies can enhance value for patients along the entire lifecycle of a drug, from drug discovery to commercialization to end of exclusivity.

From the perspective of business strategy, value delivery can be seen as a three-step process as illustrated by David Ormesher, CEO of closerlook, in his PharmExec.com post.

  • Value Creation (discovery)

  • Value Capture (commercialization)

  • Value Extraction (end of exclusivity)

Discovery Phase: Value Creation via Data

It is important to capture unique customer insight to inform drug innovation. The drug should be relevant (to an urgent disease burden) as well as differentiated (relative to alternate therapies). These two factors will largely determine market access, provider endorsement and patient acceptance for a new drug. However, departmental silos between medical affairs and commercial side of the business, and lack of access to quality data lead to incomplete understanding of competition and the market.

A Self-Learning Data Platform goes beyond a traditional master data management (MDM) offering and brings together patient, provider, payer, and plan data from internal, third party, and public sources to cleanse, match, merge, un-merge, and relate in real time. Platform’s multi-domain data organization capability helps perform deeper analysis to better understand the needs of patients, providers, payers, and relationships among these players. A Self-Learning Data Platform breaks down silos among medical affairs, marketing, business intelligence and manufacturing, and helps develop a common understanding of customer data and market insight across all departments.

Research indicates that 81% of future drug sales performance is determined by actions taken during clinical development and early commercialization phase. It’s even more critical for a pre-commercial pharma which is planning to bring its first drug to the market. Early adoption of a Self-Learning Data Platform helps a pre-commercial pharma develop future-proof commercial infrastructure and put up business processes to launch their first drug with safety, efficacy, and desired formulary placement in place. Read the pre-commercial pharma success stories about how they successfully launched their first drug with the help of a Self-Learning Data Platform.

Commercialization Phase: Value Capture via Data

A new product’s commercial performance during the first six months after FDA approval is often considered a very important indicator for how the product will do over the course of its patent life. During Value Capture or commercialization phase, the purpose of data is to build trust and respect via data-driven personalization and engagement. However, pharma companies are unable to recognize prescribers and patients consistently across multiple channels and touchpoints. They often fail to increase content speed to market in their customers’ preferred channel. This leads to negative Net Promoter Score (NPS), increased defection to competitors, and loss of revenue and market share.

The more you know about your customers – the physicians who can write the product – and what they care about, the more you’re able to build an effective campaign around a new product. What you need – an out-of-the-box, data-driven affiliation management application, with built-in MDM, for managing all relationships within and across HCOs and HCPs to support commercial operations, identify the right key opinion leaders (KOLs), and understand their influence.

A Self-Learning Data Platform helps you organize launch as a micro-battle (See the Infographic “Make Your Drug Launch Truly Take Off”, Bain Insights, September, 2017), gather continuous front-line feedback from sales reps before, during and after the launch, and make rapid adjustments as needed to the launch strategy. It helps you make quick decisions on messaging, targeting and marketing investments. Such platform powers reliable advanced analytics by enabling master data profiles and graph relationships to be seamlessly combined with real-time interactions and analyzed in Spark. For example, when a new drug is launched, it helps track sales performance compared to projections so that you can adjust strategies whenever needed.

Read the success story of a French multinational pharmaceutical company that built Customer 360 on top of a Self-learning Data Platform to support their account-centric field operations and personalized engagement.

Loss of Exclusivity Phase: Value Extraction via Data

At the point when a drug loses its patent protection, its price typically drops quickly as generic competitors enter the market. During this phase, there is often enormous pricing pressure from competitive products and health insurers. In addition to these external pressures, there is also internal competition for attention and resources, usually from a promising new product.

The business strategy during Value Extraction is to increase efficiency via operational excellence. The main cost now is sales and marketing. This is where digital can play a very strategic role. Digital sales and marketing through non-personal promotion can become an effective substitute for sales rep promotion. By replacing expensive personnel costs with lower cost digital channels, we can reduce overhead costs but still maintain market share.

Read the success story of one of the oldest and largest global pharma that consolidated customer profile across all business functions to improve customer experience across all digital touchpoints, and better engage high-value customers.

Successful pharma companies use data as a competitive weapon to develop new sources of differentiation, focus on building superior customer experiences and treat drug launches as a micro-battle. How did your last launch perform vs. expectations, and what were the reasons for under-performance or over-performance? Which interactions matter most for your target physicians, and do you provide a superior customer experience? What are the three largest internal challenges your launch team faces, and what would it take to eliminate them?

Read more Pharma Commercial Success Stories

These 3 GDPR Requirements You Must Support Today are Nothing Compared With What’s Coming

Ramon Chen, Chief Product Officer, Reltio

On May 25, 2018 GDPR (General Data Protection Regulation) went into effect. The primary objectives of the GDPR are to give control back to their EU citizens and residents over their personal data, to simplify the regulatory environment for international business, and to unify regulations within the European Union.

GDPR is relevant for any organization doing business with EU citizens, regardless of where the company is based. Personal data includes a wide range of personal identifiers, from addresses and public information, to social profiles, images, IP information, device IDs and medical and financial details.

Consumer personal data collected within your company is often distributed to multiple systems and organizations, resulting in duplication. Your organization may be considering master data management (MDM) solutions to address various data management needs including compliance challenges. Legacy MDM systems may comply with a small part of the regulation by managing profile data, but they also leave it to you to figure out how to manage the transaction and interaction information distributed across systems and channels.

Complying with GDPR should be part of your day-to-day operations. One philosophy is that a Modern Data Management platform should organically support the key elements of GDPR by managing your customer’s profile information, lineage and succession through your day-to-day data management activities.

  1. RIGHT TO BE FORGOTTEN – GDPR guidelines require your organization to support your customer’s Right to be Forgotten and purge their records upon request. Your business will also need to support your customer’s request for a copy of their information in a portable format. Any GDPR solution needs to guarantee purging of all traces by customer entity type in support of data erasure, including the removal of any attributes and historical transactions made by individuals captured as part of their digital activities, which is outside of the scope of traditional legacy MDM tools.

  2. CONSENT MANAGEMENT – Your company must also support a provision to produce any proof of consent provided by your customer on request, and a way for customers to withdraw the consent. Explicit consent is required before information is collected, and adult consent is mandatory when the collection of data involves children below the age of 16 years. Any solution that supports the management and maintenance of rights and consents must have the ability to capture and store consent types. Graph technology provides a great way to store relationships so you can easily capture and prove that an adult provided consent regarding the collection of information for a minor.

  3. AUDIT & LINEAGE – The new GDPR legal framework requires your company to support the ability to demonstrate the deletion of your customer’s private information. built-in audit and data lineage to support accountability for your business to demonstrate compliance. Attributes must also traceable back through lineage to the internal and external data providers they came from. In the case of a change request, the request can be routed back to its original source.

While there are many tools being offered to meet GDPR and other regulatory requirements, companies should use a Modern Data Management platform that supports both offensive (e.g. improve operational efficiencies, deliver better customer experiences) data strategies, and has defensive (e.g. maintain compliance, reduce costs) data strategies built-in.

Facebook has stopped short of promising GDPR level data compliance for US users. If you are a US company, even if you have no EU data, you should consider implementing a Modern Data Management platform that gives you GDPR-ready capabilities. Imagine the branding and goodwill you’ll get with your customers when they realize that you are taking measures above and beyond (exceeding that of Facebook) to respect their privacy and data.

Finally it won’t take long for the US and rest of the world to catch up, the State of California recent enacted The California State Assembly’s passage today of the California Consumer Privacy Act (CCPA) which has many elements of GDPR. My article listed three very basic GDPR requirements, there are certainly many many more. Regardless of the solution or tool you put in place today you know that many more regulations are coming. A Modern Data Management platform does the heavy lifting for you today, and protects you into the future, allowing you to focus on your business.