Kategorie: Information & Data Management

Co-innovation enables disruptive master data management applications to be experienced

Mannheim, January 20, 2018 – Consulting specialist CAMELOT Management Consultants today announced the launch of the “Global Community for Artificial Intelligence in Master Data Management.” The initiative gives companies the opportunity to get involved with the realization of initial flagship projects for the use of artificial intelligence in master data management. It is an open community that connects leading MDM and AI proponents from research and practice, thereby promoting discussion and the targeted transfer of knowledge.

Members of the community benefit from the latest innovations and research results, keynote speeches, application cases, and how-to guides for artificial intelligence in master data management. In regular Design Thinking workshops taking place around the world, new ideas and use cases will also be developed continuously through joint innovation.

Henrik Baumeier, partner at CAMELOT and the initiator of the community, explains: “Companies often feel lost when it comes to disruptive technologies like AI and their use in data management. Our innovation community is intended to serve as a platform that illuminates and allows joint work on the vision of AI in MDM.”

The far-reaching implications of artificial intelligence for data management are shown by the CAMELOT study “Shaping the Future of Enterprise Information Management,” for which around 60 managers from 37 companies and 11 industries were surveyed. Its use makes many things possible, such as the identification of duplicate data and ensuring high data quality – both of which are recurring problems in business. AI in conjunction with digital voice can serve as a personal concierge that assists end users in all aspects of data maintenance. Data can thus be properly maintained from the outset. In addition, AI provides the ability to enhance data in a context-specific way.

Inquiries with respect to participation in the community are accepted at www.ai-mdm.com.

The cloud, AI and blockchain are changing the rules of the game in data management

Mannheim, 12/12/2017 – Modern technologies such as the cloud, artificial intelligence, blockchain, and in-memory computing will redefine data management within companies. A key component of future data management will be the cloud-based sharing of data across the entire value chain. This, in turn, coupled with new types of collaboration between companies and the trend towards autonomous system communication, will dramatically increase data quality requirements. Today, however, most companies are still far from being aware of these challenges. Many lack the holistic view of their data, and more than half of the data available in the enterprise today is not used for business innovation. These are the findings of a study by consulting specialists CAMELOT Management Consultants.

For the study “Shaping the Future of Enterprise Information Management”, around 60 executives from 37 companies and 11 industries were surveyed online. “Data Management 4.0 is the task that all companies have to set themselves as soon as possible. Data management is and will remain central to digital business”, says Dr. Josef Packowski, Managing Partner at CAMELOT, about the study’s findings.

The Future of Data Management

More than 50% of respondents believe that cloud and in-memory computing will take data management to a new level. In the opinion of two thirds of respondents, sharing data across the value chain will be an integral part of future data management. The point here is that data records are created only once and then shared with all relevant parties within a value chain. The goal is global data optimization within the value chain rather than the optimization of individual data. Sharing data, new ways of working together, and autonomous system communication and integration, both within and across corporate boundaries, will dramatically increase the requirements placed on data according to study participants (67% of respondents).

Opportunities via Artificial Intelligence

But digital technologies also offer opportunities. For example, the use of artificial intelligence (AI) in master data management makes many things possible, such as identification of duplicate data and ensuring high data quality – both of which are recurring problems in business. AI in conjunction with digital voice can serve as a personal concierge that assists end users in all aspects of data maintenance. Data can thus be properly maintained from the outset. In addition, AI provides the ability to enhance data in a context-specific way.

Unused Data Potential

In the opinion of the companies surveyed, more than half of the data available within companies is not used for business innovation. Most of them lack a complete overview of what data is available. For many companies, an initial assessment of their data management is a major challenge. Henrik Baumeier, study author and Enterprise Information Management Partner at CAMELOT, explains: “Companies are overwhelmed with increasing amounts of data and the question of making meaningful use of it. The answer to these challenges is functioning enterprise information management that fully plans, implements and controls all initiatives and activities which concern business-relevant information.”
The study is available as a free download from www.camelot-mc.com.