Book: Master Data Management and Customer Data Integration for a Global Enterprise
This book is about interesting and exciting new developments in the area of
information management. These developments are focused on new ways of
structuring, choosing, understanding, and integrating information that is needed to run
a business, service customers, and comply with numerous regulatory requirements.
To paraphrase Claude Shannon, the “father” of information theory and the
concepts of information entropy, information is that which resolves uncertainty. Our
entire existence is a process of gathering, analyzing, understanding, and acting on
information. Progressive resolution of uncertainty is the key to the way we make
business and personal decisions. The need to sustain new regulatory pressures
and achieve competitive advantages by managing customer-level profitability
and risk-adjusted return on investment drives profound changes in the way
business and government organizations operate. Traditional account-centric and
application-specific silos of business processes restrict organizations’ ability to
meet the aforementioned challenge. Therefore, in order to succeed in today’s highly
competitive global and dynamic markets, businesses are making serious investments
in the new customer-centric processes and technical capabilities. These new
capabilities should allow organizations to effectively select, acquire, understand,
and manage accurate and relevant information about customers, products, partners,
patients, inventories, prices, and other areas of business concerns.
In doing so, enterprises are collecting and processing ever-increasing volumes
of information, especially as business conditions change, markets shrink or expand,
companies grow organically or by acquisitions, and customer retention becomes one
of the key business metrics.