Aligning your data foundation to meet your business objectives
Master data is the most important data you have. It’s the information about your customers, suppliers, partners and prospects. It is fundamental to understanding your business entities and commercial transactions — and gives you a clear view of the building blocks of your relationships. Dun & Bradstreet helps you with master data management by providing the foundational elements (entity management, hierarchies and linkage) aligned to meet your business objectives. With Dun & Bradstreet’s pre-mastered commercial content, you get one clear picture of your business universe with de-duplicated records, additional company data and related businesses linked in corporate families.
Master Data Management is essential in today’s business environment because of the sheer volume of data (customers, vendors, suppliers, employees, etc.) that every company deals with. Without a proper master data management system in place, the risk of bad data, data duplication and data inconsistencies go up. This negatively affects not only business processes, but also any marketing campaigns run by the company. Furthermore, with a master data management solution in place, companies can easily derive meaningful insights from their data in order to make important business decisions. Properly structured and updated data saves time and efforts for every department of an organisation.
You are leveraging data in new ways across your enterprise; from finance, marketing and technology to sales. You're looking to use data and technology at scale and to engage with customers, vendors and partners to gain competitive advantage. However, with the overwhelming volume and velocity of data, what should be creating great insights is creating chaos. At Dun & Bradstreet, we help you find the truth across all your data silos.
Dun & Bradstreet helps you create a trusted view of your customers, prospects and vendors across your systems, regions and departments. We offer the breadth and depth of content that makes our firmographic data even more meaningful. Regardless of where you are on your Master Data Management (MDM) and data integration initiatives, we provide the value you need. Just ask the 90% of the Fortune 500 companies who use us.
By collecting data from these global sources, we turn data into insight.
We have the organisational data structure to connect your disparate sources, the deep data and global coverage you expect, and the dependable quality and consistency you require for your master data content. With D&B Master Data, you have the ability to connect and integrate through multiple systems or workflows, enterprise partners across your ecosystem and a growing network of software alliances and syndicated data sources.
Achieve global consistency. From a universal standard for business identification to discovering the value of interconnected relationships to supporting industry classifications and standard geographies, we have you covered.
If you want to grow your most valuable relationships, you require a trusted view of them — one that offers both the global breadth of harmonized data from more than 190 countries and the local depth of D&B’s pre-mastered commercial content.
We give you the data confidence to make profitable decisions for your business by our relentless focus on data quality and governance and the DUNSRight™ Quality Process of aggregating data from a range of global sources.
From our patented Entity Matching process to our delivery options that integrate into all types of systems to working with best-in-class workflow providers, we help you maximise your investments and seamlessly integrate with other data sources.
Every department of every organisation has data stored in different formats across different systems and across geographies. Often the same data is stored across multiple systems which are not in sync with each other, resulting in data residing in silos creating redundancy over a period of time. D&B Master Data Solutions uses a unique matching algorithm that cross references your data against our D-U-N-S Number which is a unique business identifier. This way you get a clear view of who you are doing business with.
There are several master data management tools available but they can only de-duplicate data. With the help of our Matching algorithm, not only does it de-duplicate your data, but it also gives you a clear unified view of your customers, vendors, prospects, etc. It shows you the corporate family tree that an organisation belongs to. This helps you identify upsell and cross-sell opportunities effectively.
Every team across any organisation has a need for a unified Master Data. Effective decision making necessitates that data across the enterprise should be consistently interpreted and inherently trustworthy. So, it is imperative for data across the organisation / across teams to be consistent and cohesive. A centralised approach to the master data is most effective. D&B solutions can help you with mastering your legacy data and keeping it refreshed along with systems to ensure that every new record being created also falls in line.
D&B has a Data Cloud of over 400MN records globally. In addition, D&B has built and mastered matching algorithms that identify similarities in data to enable a comparison between your data and D&B’s pre-mastered commercial content. There are a variety of mechanisms through which Master Data solutions can be implemented which include batches as well as APIs. To know more, reach out to us on +91-22-3348-8866 and select the option for Sales & Marketing Solutions. Our associates will help answer your queries.
There are multiple benefits of having a Master Data Solution in place. Our solutions enable you to have a cleansed, integrated base of customers, prospects, vendors across the organisation. This is the key to having a 360-degree view of business relationships to help data-enabled decision making which is aimed at -
Getting ‘One-customer’ view by uncovering and linking related customer accounts
Reduce operating costs by linking interrelated suppliers and increasing purchasing power
Setting up and maintaining a ‘Quality Core’
More effective sales & marketing (ABM, cross-sell/up-sell, segment targeting, etc.)
Reducing risk by limiting exposure to certain segments
Operational efficiency gains
Better, more consistent customer interactions (credit decisioning, customer care, etc.)
Deeper visibility into supply chain
Corporate Linkage reveals the scope and footprint of an enterprise, based on ownership or control. D&B Corporate Linkage reflects hierarchical relationships between entities or sites within a corporate family. It provides a complete view of group companies which would help in the following ways:
Identifying businesses associated to existing clients to uncover new prospects
Identify businesses trading from the same address
Understanding the full potential of your best clients
Assessing total exposure / risk to any particular organisation
Identifying ‘hidden’ exposure when dealing with more than one member of a group
Assessing threats / opportunities in pricing if dealing with several members of one group
Identifying / avoiding conflicts of interest
Data is the biggest asset a company has. However, without t proper care, it can soon turn into a liability. The lack of proper Master Data Management can result in wasted time and efforts. Moreover, bad data can also result in losses for the company. Therefore, master data management is essential for the growth of any company.