Making the Most of Your Data

Like all enterprises today, your e-commerce enterprise is likely to be receiving data from multiple channels. Is all this customer, sales, social media, and other data sitting in silos in your organization?

Data silos prevent an enterprise from developing a 360-degree perspective of clients and personalizing interactions. How do you consolidate your data, maintain a single source of truth, do away with duplicates, and develop a holistic strategy of engaging with your clients? Master Data Management (MDM) holds the key.

MDM is a solution that allows e-commerce enterprises to store data related to their products, customers, employees, vendors, and suppliers in a single repository. This data is critical to a business and all business transactions are planned based on this data.

A master data management solution usually contains three types of data, namely,

  • Transaction data related to business processes, for example, an order-to-cash process.
  • Analytical data, for example, reports and dashboards.
  • Governance data related to privacy regulations and other compliance controls.

One can hardly overstate the importance of Master Data Management. However, these are the top 5 benefits of MDM software.

  • Access consolidated data on customers, products, and relationships based on which your enterprise can plan personalized cross-selling and up-selling. Interact with customers on their channel of choice at the right time, and experience a higher conversion of your sales efforts.
  • With a single source of data, ensure your sales and marketing efforts are focused, planned, measurable, and highly productive.
  • Centralize the storage of product information and ensure your users always have access to updated information at their fingertips. It also means your enterprise has accurate information on inventory and stock. This allows you to forecast and plan.
  • Access insights and act faster. This could help the enterprise to identify and chase opportunities before competition does, and have a direct impact on the bottom line.
  • Centralized data simplifies the management of customers, partners, and products. It also ensures compliance.

There are an expanding set of MDM products in the market. Are you looking for the right product for your enterprise? Don’t just rely on your expertise. Reach out to Navabrind IT Solutions. Make the right choice of an MDM, and simplify the process of adopting a solution. We have helped a host of B2B and B2C customers across industries deploy an MDM solution, and we can help you.

With over a decade of expertise in e-commerce solutions, we also help small and medium e-commerce businesses deploy Magento, Akeneo PIM, Odoo ERP and integrate them with your DAM solution. We have also helped our clients in the US, Europe, and India with mobile apps, cloud solutions, complex customizations, and have software developers you can hire.

Related Articles

  • Benefits of PIM for the Manufacturing Industry
    Benefits of PIM for the Manufacturing Industry January 11, 2023 Posted by: stark Category: PIMCore Services No Comments The manufacturing industry is a complex one, and nothing can illustrate it better than this example of a box manufacturer. Company X manufactures boxes of various sizes, materials, and colors. It manufactures boxes to order and for
    January 11, 2023
  • How CPQ will Increase Business Opportunities for eCommerce Industry
    How CPQ will Increase Business Opportunities for eCommerce Industry December 6, 2022 Posted by: adminuser Categories: CPQ, E-Commerce Development No Comments The e-commerce industry is burgeoning. Businesses and retail consumers are increasingly reviewing products, requesting quotes, and buying online for convenience and speed. Your business needs to be prepared to capitalize on this e-commerce opportunity
    December 6, 2022
  • Reason why You Should Integrate Your CPQ with ERP
    Reason why You Should Integrate Your CPQ with ERP December 6, 2022 Posted by: adminuser Categories: CPQ, ERP Implementation No Comments Does your e-commerce business generate a large number of quotes? Does your company sell a variety of products making your quotes complex? Do the products you sell have a differing value-added tax which further
    December 6, 2022

Contact us to know more about our offerings and schedule a call.