4 Spooktacular Ways to Solve Your Scariest Data Management Challenges, No Tricks, All Treats
Blog: The Tibco Blog
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Whether you’re facing disparate data systems that are haunted by disorganization, corruption, or inaccuracies—or you’re plagued by complex infrastructure that makes you play a constant game of data hide and seek, living with bad data management systems can feel like torture.
Common Spooky Tricks
Disparate data and ever-expanding systems can feel inescapable and overwhelming. Siloed and costly data sources impact your operational efficiency. Data management concerns affect every industry differently:
- Manufacturing: Manufacturers often deal with poor data quality, multiple versions of data for the same entity, and duplicated data in multiple systems. With too many versions of master data, manufacturers need a “golden record” of trusted data to reduce costs and lower business risks. They can achieve similar top- and bottom-line value for product data or bills of materials, for instance, when bringing new products to market or optimizing the supply chain.
- Banking: Banks are drifting in a sea of data: customer, product, and service data combined with financial transactions and marketing strategies—sourced from smartphone applications, in-person interactions, cards, and devices. This plethora of data produces valuable opportunities but can also create hurdles if data is inconsistent or mishandled.
- Retail: Data can help retailers better understand the customer journey. With a 360-degree view of customer data, retailers can improve customer interactions, streamline new services, and create omnichannel experiences. Tapping all master data domains, such as products, employees, marketplaces, suppliers, and more, can also yield huge business value.
- Insurance: Insurance data is the most valuable corporate asset in financial services, playing a central role in decision-making. A single view of the customer and a real-time look across all lines of business is crucial for insurers to remain competitive in today’s market. It enables customer-centricity, spot-on personalization opportunities, and the ability to quickly handle regulatory and compliance requirements.
The good thing is—your business isn’t cursed with bad data management forever. Get your goody bags ready for our top treats, listed below.
4 Top Data Management Treats
The TIBCO Platform enables your team to excel in master data management, data virtualization, and data quality solutions that deliver better data access, trust, and control. Your unmanageable, ghostly data days are behind you.
Here are four ways you can incorporate better data management throughout your technology stack:
- Connect Disparate Systems
Digital business excellence requires smarter, more connected apps, faster development, and cloud adoption. Data holds 100 percent of your business opportunities, and the ability to access and activate that data in context for your people, processes, and systems unlocks business value. Enable your IT and business stakeholders to connect all your apps, data sources, and processes—in the cloud, on-premises, or on any device. By integrating all your sources, you help eliminate the possibility of duplicated, untrustworthy data.
- Unify and Cleanse Your Data
Reimagined customer intimacy, operational excellence, and business reinvention efforts require intelligent management of every kind of data—metadata, reference data, master data, transactional, and streaming data. Managing this diversity with logical governance and consistency is crucial. Give your team the capabilities required for better data access, trust, and control. With master data management, you can control your data in a single place.
- Predict for Better Business Outcomes
Successful data-centric enterprises have mastered the data-to-insights-to-action journey and built a continuous, real-time loop of learning and adaptation. By predicting and acting on discovered opportunities, companies can sustain innovation and optimize business processes, operations, and customer experiences. Empower your team with analytics and data science to find meaningful insights from data and confidently predict and deliver the next wave of success. Better data quality creates better analytics, and data science capabilities can help create better data practices in your data value chain.
- Use a Platform Approach
The easiest way to ensure access to quality, trustworthy data is to use a platform approach to your technology ecosystem. For example, the TIBCO Platform gives you all three of these treats (integration, data management, and analytics) on one platform, with many capabilities. You can pick out your favorite candy and create a customized, bespoke data solution to your biggest data challenges. For the best data management, find a platform that fits your unique needs and can scale as you grow.
The Fairytale Ending to Your Data Horror Story
TIBCO has the solutions your company needs to overcome disparate data, unmanageable data volumes, and poor data quality. Check out TIBCO’s unique abilities to unify your data through these resources:
- 10 Things You Need to Know about Master Data Management
- TIBCO EBX Overview Demo: Multi-domain Data Management
- O’Reilly eBook: Data Fabric as Modern Data Architecture
The post 4 Spooktacular Ways to Solve Your Scariest Data Management Challenges, No Tricks, All Treats first appeared on The TIBCO Blog.
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