Enterprise Data Management
Every business needs data to drive operations and maintain bottom lines. Companies can’t make good decisions with poor quality data, which means they can’t achieve their business goals, impacting revenue in the short term and business health in the long term. Think about your own organization. Do you know where that data comes from? Do you know whether or not it’s accurate?
The Inspirage Enterprise Data Management Practice strives to connect the dots between people, processes and technology in order to create an enterprise data management solution that fits the needs of organizations in myriad industries, including oil and gas, high tech, retail and health sciences, among others. We specialize in leading methodologies, tools and accelerators to solve complex business issues and gain competitive advantage by defining, integrating and retrieving your operational data.
Having “bad data” is not a positive situation for your company. The risks of making decisions that are based on data of poor quality are great, and it’s not just a problem for the IT department to handle on its own. At the end of the day, bad data impacts business challenges – bottom lines depend on an organization having the most accurate data possible so that educated decisions can be made.
Gartner predicted that by 2019, 90 percent of large corporations will have an executive role called the “chief data officer.” This is proof that having accurate data – and knowing what to do with it – is critical for business success in our tech-driven world. As organizations collect more and more information – giving real weight to the term “big data” – it’s increasingly clear that not only is it critical to know what to do with that data, but it’s also integral to have a plan for storing and analyzing all of it.
The goal of the EDM consulting practice at Inspirage is to ensure data quality and synchronize organizational data. As supply chains continue to become more complex, with new types of data and new ways to incorporate insights into every level of a company, how does all of this information remain unified throughout an organization and how do you make sure you’re using the most accurate data available? These are the key issues that the EDM consulting practice strives to solve. To learn more about our practice, download our EDM datasheet today.
The data management consulting practice at Inspirage can help your company mitigate data risks by taking a proactive approach to managing your information. We’ve done so across hundreds of successful implementations. The question is always: How can we streamline business processes and minimize risk by integrating data with these operations?
In order to enact real business improvement, become more efficient, take advantage of cost savings and reduce supply chain risk, enterprises need to evaluate important concepts within their data management practices. Several key master data issues that impact enterprise value include:
- Agility: How easy is it to reuse information? How easy is this data to access?
- Availability: How much time does it take to plan, source and unify inconsistent master data?
- Leanness: Can people, processes and technologies be reused or pooled across an organization?
- Standards: How is the data standardized? When limited standards for information, process and technology are in place, this can result in a higher total cost of ownership of these assets.
- Accuracy: Is the data unified across an entire organization? Is it accurate?
- Governance: Who has control over the data? Where does it live?
When partnering with Inspirage, your organization can realize the true value of your data by dealing with these issues before they become real problems. By deploying our EDM and Master Data Management (MDM) solutions, you can expect to establish a competitive advantage that you can count on to enhance your business processes.
Three Approaches for EDM
At Inspirage, we approach data risk mitigation in three key ways:
- Enterprise Data Readiness Assessment (EDRA)
This approach is for customers that come to Inspirage for help but doesn’t know why or how. In this situation, Inspirage’ s EDM experts perform a data analysis on the customer’s organizational data to parse out any inconsistencies and find the errors that will give them poor results. This process typically takes two to three weeks, and once complete, customers have an evaluation of what data is incorrect or “bad” and how business value can be created by solving these data problems. There are four key components to the EDRA: data architecture, data quality, data governance and the data management roadmap.
- Enterprise Data Management (EDM)
This approach is geared toward customers who are well aware of the data challenges that are impacting supply chain optimization. These could be addressed by bringing in best practices around data architecture, data quality, data governance, data transformation etc.
- Client Manages Data Risks
Data quality is ranked by Gartner as one of the top three risk factors for enterprise project success, and poor data quality is cited as the primary reason why projects fail to achieve the agreed-upon goals. In this situation, the customer meets the requirements for – and assumes the risk of – data readiness.
Services and Solutions
Define, Integrate, Govern and Retrieve
Inspirage’s Enterprise Data Management (EDM) practice specializes in Industry-leading methodologies, tools and accelerators to solve complex business problems and gain competitive advantage by enabling organizations to Define, Integrate, Govern and Retrieve data.
Our Capabilities include:
- Enterprise Data Readiness Assessment – Inspirage’s EDM experts perform a data analysis on the customer’s organizational data to parse out any inconsistencies and find the errors that will give them poor results. This process typically takes two to three weeks, and once complete, customers have an evaluation of what data is incorrect or “bad” and how solving these data problems can create business value.
- Enterprise Data Management Strategy & Roadmap – We help our clients take a strategic look at data management in areas such as design, architecture, security, metadata and reference data management, and data conversion and transformation strategy.
- Data Governance & Maintenance – Here we help you design how you will govern and maintain your data on an ongoing basis. This includes organization alignment, data consolidation, enrichment, data quality and cleansing, synchronization and sharing, retention and archiving, and more.
EDM processes span across people, processes and technology, which all come together to enable business process transformation and supply chain optimization. Here are the key Oracle tools which we specialize in:
- Product Data Hub
- Customer Data Hub
- Enterprise Data Quality
- Supplier Data Hub
- Site Hub
- Data Relationship Management (DRM)
Data Management is critical for Supply Chain Optimization
Presenting a unified front when it comes to your data is critical for the success of the supply chain and for your business as a whole. Having poor or incomplete data can be a serious risk for your organization, and investing in data management consulting services offers a way to mitigate that risk and ensure master data accuracy.
Get in touch with Inspirage today for more information about how our Enterprise Data Management solutions can simplify, streamline and optimize your end-to-end supply chain management business processes.