How does the MDM system (Master Data Management) like PIMCORE helps in data management?
Data management is a great challenge for any IT company. The lack of structure is a nightmare in management and subsequent use. However, data organization can increase the profits generated by companies. An investment in an appropriate data management system in the future will pay off by saving time in servicing the database and insight into information that helps improve the strategy of selling services.
WHERE IS THE INFORMATION EXCHANGE HAPPENING?
Nowadays, the growth of communication channels is rapid. Data exchange between them is continuous. For example, let’s take the concept of the Internet of Things. According to it, even household appliances that are part of the network exchange information with each other. The exchange of information also takes place in far more complex systems, such as intelligent cities, measuring systems or environmental monitoring.
In the IT segment, data management in the MDM system can be useful on social media platforms, e-commerce stores, search engines or streaming platforms. A constant flow of non-uniform information needs to be sorted out. Otherwise, running services based on unconfigured databases can be definitely difficult.
The lack of data structuring is manifested in the undefined database organization model, the inability to enter it in any model, and the impossibility of imposing a data format and organizational chart. In one collection there will be text files with media files.
The lack of specific categories and forms of files makes it difficult to classify and use them in computerized systems or in storage services like a relational database. Unstructured data is not new. Gartner claims that as much as 80% of data in corporations is unstructured.
USEFULNESS OF MDM SYSTEMS
A large amount of unstructured data is at the same time a huge risk for enterprises, but also an opportunity to develop and reduce management costs. The right MDM (Master Data Management) system will compensate for losses and meet the challenges of unorganized data.
Until now, data was managed in a manually organized way. There were some solutions for business and data management alone. However, they are now generated at a different rate than before. 90% of the world’s data has been created in the last two years. The MDM platform will provide assistance and automation of data management because it will give them context for the database in which they are located. It will do so for many channels, formats and types.
BETTER QUALITY OF STORED DATA
The low quality of information associated with unstructured data, both for machines and people who operate on them, comes from problems with their analysis, processing and storage. MDM systems are designed to clean and organize data in a corporation for both internal and external use. In addition, data can be organized to be available to all recipients in the way that is best for them. Regardless of whether the user of the database is a human or a machine, MDM will adjust their organization.
INTEGRATIONS WITH INTERNAL DATA
Most IT corporations use API (Application Programming Interface). This makes it easier for MDM systems to analyze unstructured data in an intelligent way. Semantic analysis to identify and structure data by assigning taxonomy and metadata to separate files is not a problem for MDM. After creating the appropriate data structures, a strong MDM platform will be able to combine information with internal master data files and thus integrate them into the company’s internal systems.
DATA SEARCHING AND ACCESSIBILITY
Many modern companies require data availability over many channels, with the help of intuitive search systems. However, internal algorithms cannot process data without the proper structure. This is where unsatisfactory search engine results come when using them. MDM systems use the API to index files throughout the enterprise to build a fully integrated data mining platform. Additionally, they use links and metadata and combine many different data formats.
The flood of unstructured data from every customer visiting gives a new opportunity in creating profiles and targeting their services. By analyzing customer behavior and their preferences and later assigning the resulting profiles to the appropriate strategies, it will be possible to build a personalized experience of using an e-commerce store and matching the right products to the right customers at a given time. However, reliable data is needed for everything. The MDM system is perfect for this, thanks to the possibility of collecting and presenting data about customers visiting the site. Thanks to this, you can make better decisions faster and with greater certainty.
IMPROVED DATA SECURITY
The first step in securing data is knowing where to store it. Data silos are a threat to their security and can seriously impair the functioning of the entire corporation, especially if each of the silos is covered by a separate security protocol. MDM platforms help remove duplicates and manage databases from a central repository. In addition, they introduce data security systems such as authorization restrictions for user groups, file encoding, maintaining an archive of logs, reporting, and even alerts regarding violation of access restrictions.
WHICH SYSTEM WILL BE THE BEST?
A properly configured and managed MDM system will be suitable not only for companies with a small amount of information, but also for large databases with a constant flow of information. However, they do not only organize data. If you integrate it with the data analyzing engine, MDM will become a mine of knowledge on topics related to services rendered and ways to improve them. As a result, not only will it be possible to improve existing customer service, but also to expand the business to new services.
The MDM system also perfectly organizes access to data for the entire enterprise. This helps teams with specific competences to quickly gain information exclusively for them.
The implementation of the Pimcore MDM system allows achieving the appropriate market standard and as a result ensures high quality customer service, regardless of whether your company data is already structured or not. It will organize data in different versions in one place, which will improve the level of information management. By combining different data types, MDM will provide access to master data. Pimcore is available in a free demo version.