Are You Being Strategic About MDM?

Attention data professionals!?Integrating your key business inputs into a data management strategy remains a top priority for both mid-market businesses and global enterprises. Makes sense, right? But here’s where things go wrong: as new data sources increase, businesses must learn to organize their company information into a unified structure.?

That’s why businesses are investing in cloud-based solutions to control their master data management (MDM) strategies. A 2022 Deloitte Consulting report showed that nearly a third of companies surveyed (32%) expect to increase their cloud-based data solutions investment by over 20%. And over half (54% of respondents) plan to increase their cloud spend by 6% to 19%.

Underlying all this investment is a critical need to manage disparate sets of data into a single data solution. Having an MDM strategy is the answer. It’s the source of common data that becomes an integral financial and operational asset for any organization.?

Your company’s master data holds all the analytical data, customer data, and transactional data for sharing across departments, like application-specific metadata and business-specific transactional data, such as customer IDs or department identifiers. Having this accurate and timely information helps executives to make smart business decisions around products, customer experience, sales and service, operations and more.?

Read our recent blog “Incorporating MDM into Your Company’s Data Strategy” for a deeper dive about the benefits of an MDM strategy.

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Data Analytics Are a Top Priority for Mid-Market Businesses

We continually talk to companies, read new research and find examples of how data and analytics are ultra-valuable for growth-oriented businesses. Overwhelmingly, we’re seeing that more mid-market companies are wisely investing in these areas to advance their digital transformation.?

A Capital One study showed that mid-market firms are prioritizing investments in areas like data analytics, cloud migration, AI and other areas. Having advanced data analytics integrated into your company strategy can help your organization get early alerts to sales trends and customer patterns that you would not necessarily have otherwise. With this information, your company can take moves to increase profitability and competitiveness, and eventually increase customer retention.

Mid-market Companies Are Prioritizing Data Analytics – And Generating ROI

At Evolution Analytics, we strive to help mid-market organizations with all things data. We have extensive expertise and business acumen in five key areas – Analytics, Data Governance, Data Lakes & Warehouses, Data Science, and Master Data Management – to help guide your path to understanding, planning, building and extending capabilities that measurably impact your businesses.

As you seek to drive your own meaningful business results using data and analytics, check out our recent blog, “Elevate Your Data Analytics in 2023.” We highlight some of the innovative ways we have helped our customers accomplish their goals – and we’re here to help you as well.

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A Consultant’s Perspective: The Good, The Bad, The Ugly in Delivering Cutting-Edge Analytics?

People make the difference. Each quarter, we will introduce you to one of our team members who bring to life analytics innovations that help mid-market companies reach their potential. Experts in all things data, our professionals excel in identifying and implementing high-value customer solutions that help your business achieve significant innovations in your performance.?

This month, meet Felix Amankwah, a Senior Consultant at Evolution Analytics, who explains what it’s like to be working on the front lines of cutting-edge analytics technology and shares work-life insights from a data architect’s point of view. We hope you enjoy reading Felix’s perspectives as an industry insider.?

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About Us

Evolution Analytics is a modern consulting firm that helps mid-market companies compete with data, analytics and AI. Our Advise, Build and Enable services deliver high-value data solutions with speed and efficiency, affording companies the freedom to focus where it matters – driving measurable growth. By mastering the art and science of successful analytics, we transform companies with better data and business insight.

Evolution Analytics is ready to help modernize your business. Contact our team today to discuss your 2023 data goals.

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