With the rapidly increasing growth of data sources available to marketers, improving the way organizations make decisions is a key differentiator for forward-thinking sales and marketing organizations. These forward-thinking organizations engage their customers, invest their marketing spend wisely and ultimately see increased revenue and gross profit growth compared to their competition.
Your organizations data that can ultimately be turned into information is one of your most valuable assets: Data on your products, your sales, your customers, your competitors. It comes from everywhere – from sales, from manufacturing, from inventory, from your CRM, etc. It comes from external sources too – services vendors, industry data sources, mailing lists, sample distribution, sample compliance, voucher/coupon vendors and more. It almost goes without saying if you purchase packaged applications or third party data in which each has its own defined data criteria it is impossible to have consistent data across all systems. At times it can be overwhelming. Even small organizations can have millions of records and produce disparate, disconnected reports.
How do you keep track of all this data? Not only that you need to be able to analyze this data. You need to have this data populate reports. And all of this has to be accurate, be readily accessible, and make sense in order for your company to make sound business decisions.
Here is where the Bell Canyon Consulting approach to data management makes perfect sense.
We use a multi-phase, agile approach starting with a deep dive discovery process delving into all of your data sets and internal data sources. We seek and eliminate duplication, offer suggestions for improvements, and identify any data gaps.
Once we “know” your data, you want to be able to manage it centrally and enable it to be processed and used in a distributed fashion. The reason is quite simple – data becomes polluted at the source of entry. Most users of data are completely oblivious to other users’ need for the same data. We then provide all of your data users with what is commonly known as a single version of the truth. This is done by creating the Master Data Management System that fits your business now and in the future.
The remaining phases then fall in a logical sequence of integration of the MDM application with other systems such as CRM or SFA, building out your data warehouse, working with or selection of your Business Intelligence tool and finally training and handoff.
A typical project could be scoped out as follows:
- Master Data Core fully developed and being utilized within 8 weeks
- Integration and handshake with SFA/CRM within 6 weeks
- 3rd Party Data, Samples & Vouchers organized, made available within 8 weeks and interim sales reports pushed out within 8 weeks and 1 day
- Training and transition