Insights

Master data: the basis for success with digitization

While big data is on everyone's lips, many companies are still struggling with internal data problems. Different article numbers and specifications from various systems slow down productivity. Other inhibitors of a smooth business flow include non-transparent processes in production - which in exceptional cases can lead to loss of control over the processes. In order to avoid such productivity losses, it is essential to be familiar with your own master data. A view from the outside helps: With the tool management analysis process developed by TCM, master data can be checked for quality within a very short time. This enables a critical examination of the internal data and processes - and thereby success through digitization.

It is particularly important that your own data is regularly optimized after the first cleanup. Uniform and consistent article numbers and specifications guarantee time-independent cross-system analyses. Statements about basic economic data, such as consumption and disposition data, and questions related to production form the basis of future-oriented corporate decisions.

The active involvement of employees is particularly important for digitization processes. Digitization cannot be simply demanded, but rather must become part of the viewpoint of the entire company. The new challenges that arise in the increasingly networked company ecosystem can be overcome with the right attitude. Success will become visible:

-     No redundancy that the customer does not pay for and which paralyzes the organization
-     No gaps and lack of data quality that undermine transparency and clarity
-     No restriction in interpreting the data pool and finding new business models
-     No problem to make new technologies such as AI additionally effective and much more.

The first step may not be an easy one, but with each further step the more the dynamism,  acceptance and success in your own company will grow.

Click here for the current white paper from Europe's leading experts on the topic of tool  master data. -> LINK