Creating a successful brand today isn’t just about finding a product to sell or a problem to solve. The most iconic entities in any industry are the brands that know how to connect on an emotional level with their audience.
In today’s ultra-competitive marketplace, every company whether they realize it or not, is creating multiple digital platforms. Why? Because platforms transcend traditional value chains and enable companies to create new business value. What this really means is companies are moving away from processes to platforms to create competitive advantages. The top 10 Fortune 500 companies are platform companies (Apple, Facebook, Google and Salesforce, for example). Moving forward, companies that master platform thinking and design will be the champions. Such is the power of this new way of thinking that most if not all firms are in the process of assembling and refining., If you and your company are to fully benefit from them, you need to understand why this is happening and how you can take advantage of it.
Master data is easily one of the most critical assets that a business possesses. With continuous digitization and the advent of the fourth industrial revolution, the value of master data and the importance of master data management are only going to grow.