7 Reasons Why Businesses Should Adopt A Modern MDM Platform
A modern Master Data Management (MDM) Platform helps businesses manage data like leading digital companies, leveraging continuous data organization and recommended actions to measure and improve their operations. Here are the seven reasons why enterprises should invest in a modern MDM Platform to drive ongoing business value.
1. Reduced IT & Operational Cost
A leading PC & printer manufacturer & re-seller created a single global view of accounts. Reltio Cloud delivered an Account 360 solution to manage complex relationships and hierarchies among their business units, customers, and partners. It helped the client improve their territory alignment, multi-channel campaign execution, and field incentive compensation planning. Reltio has helped increase their data load performance by 577X and is expected to save them more than $12M over 5 years through improved IT and data management operations.
2. Increased Productivity
A top 5 global pharma reduced cost of ownership by $3.6 million per year, and improved user query response time by 10X. Reltio Cloud was deployed to replace the client’s 67 MDM on-premises instances with just 3 regional cloud tenants. It allowed them to execute multi-channel marketing campaigns and simplify capabilities for cross-market queries on healthcare providers (HCPs). With Reltio Cloud’s simple configurability and ease of use, the business teams were able to give its field sales reps the ability to submit updates through the Reltio UI via mobile phones, allowing them to contribute towards overall data quality.
3. Fast Path to Digital Transformation
A top used car retailer consolidated data from 155+ store systems in less than 15 weeks to drive omnichannel customer experience. Reltio Cloud supported a Consumer 360 solution, managing the client’s multi-domain data (customers, vehicle stores, accessories) in a holistic manner while integrating real-time predictive analytics with full visibility into all customer interactions. The Customer and Vehicle Master helped the client’s marketing team execute better targeted campaigns and allowed the merchandising department refine inventory acquisition targets based on more complex demand analysis.
4. Enabling Connected Experiences
A leading pet specialty retailer leveraged data to tackle Amazon Effect and transform into a customer-centric service company. Reltio Cloud delivered a Consumer 360 solution that supported a single view of pet parents across all the client’s brands, joint ventures, and multiple systems. Reltio’s unique approach to modeling relationships with graph technology, combined with big data science, enabled the client to unlock the critical intersections of interactions and information by creating a single repository of trusted and mastered pet parent profiles in real-time.
5. Built-in HIPAA Compliance
A leading health insurer created a single view of their members across multiple systems to execute a member-centric omnichannel strategy. Reltio Cloud enabled a Member 360 solution, providing visibility into the entire touch-point history for each member and optimizing member experience while meeting HIPAA compliance requirements. It helped the client do segmentation, targeting, and direct-to-consumer (DTC) campaigns with higher precision. With Reltio’s cloud-based platform, flexible modern data architecture, and agile deployment the client delivered lower TCO and quicker time to value for their IT, sales, and marketing teams.
6. Speed to Value
An American diversified global insurer created a holistic view of their brokers for better segmentation, compensation elasticity and retention analysis, all in four weeks. Reltio Cloud for Account 360 helped the client create a single view of their brokers (firms and captive agents) for effective commission management. Reltio’s Graph capability enabled the client uncover relationships among brokers, distribution channels, products, employers and insured employees to identify top brokers and find upsell and cross-sell opportunities.
7. Fast Path to GDPR Compliance
A global colocation provider ensured the ‘Right to be Forgotten” for their customer contacts with an implementation that took twelve weeks. Reltio Cloud for Account 360 helped the client create a single view of their enterprise customers with built-in audit, data lineage, and workflows. It ensured ongoing purging of all traces by customer entity type in support of data erasure, including the removal of any attribute, historical activities made by individuals and activity logs on the Reltio Platform. In addition, Reltio Cloud’s Graph capability enabled them to reveal relationships among people, products, locations, and consent types.
If you enjoyed this post, please feel free to share the short video below