The 9th CAMELOT Management Forum for Data and Analytics took place in Frankfurt am Main with 80 participants from 55 different companies. At the full-day event, the participants shared their take on trends and challenges in a survey: Almost all survey participants saw their organization as being a good path towards modern data management. At the same time, challenges from organizational readiness to initial data quality remain.
Modern Data Management at CAMELOT Management Forum Data & Analytics 2021
Getting insights, sharing knowledge and experiences, and networking: At the 9th CAMELOT Management Forum for Data and Analytics, 80 participants from 55 different companies discussed ideas and trends. In seven speaker slots, CAMELOT partners and clients provided insights into various facets of master data management. They outlined their transformation journeys in practical talks and presentations, from “Data Management – Strategy to Implementation” by a Swiss transport company to the Solution Stack presentation by our long-standing partner SAP on “Information Governance with SAP Data Management Tools” to “Road to Enterprise Master Data – A Journey to Overcome Functional Data Silos” by a leading German pharmaceutical company.
During coffee breaks and lunch, the participants had a chance to exchange ideas and network in a relaxed atmosphere.
Here, some of the participants shared their experience innovative technologies in their organizations to support master data management. In this context, individual solutions such as RPA, self-service business intelligence and MDG customizing are mainly in use.
To give deeper insights, CAMELOT set up demo points and use case stations to present innovations that could be experienced and to promote the exchange among the participants. The participants were able to experience use cases on intelligent data extraction, supply chain analytics and hyperautomation in data management and engage in an intensive exchange with our CAMELOT innovation experts. Two examples:
- CAMELOT’s AI-driven extraction tool automatically retrieves and processes data from (un)structured documents. It enables potential improvements along the entire value chain.
- The colleagues in the hyperautomation team showed a virtual assistant that business users can use to create material master records in SAP MDG by answering product-relevant information in a guided questionnaire. The information provided by the user is then processed within an automated SAP transaction.
Modern Data Management: The participant’s take on trends and challenges
After the event, more than 30 participants took part in a survey on Modern Data Management. The following trends in modern data management were identified by the participants:
- single source of truth and integrated data model,
- data management through technology to benefit processes,
- Artificial Intelligence support,
- data integration across applications / Data Meshing,
- improved processes of MDG.
At the same time, the respondents noted that Modern Data Management presents some challenges for companies. They identified as the biggest challenges:
- a clear, stringent strategy,
- implementation milestones,
- resources availability and willingness to invest within the heavy economic challenges,
- initial data quality,
- organizational readiness.
Modern Data Management is „essential, but still a big challenge for many companies”, was one of the answers in the survey. And: “There is a need for consulting efforts and companies requesting it”. This statement became even more clear, when the peer group was asked to assess their companies’ readiness for Modern Data Management for a technical and organizational dimension:
Almost half of the participants described their own company’s abilities in terms of modern data management as being on a good path. However, the differences in the organizational dimension are striking. There is a gap of more than ten percent in the assessment of organizations that support modern meta management versus the technical ability of the company. The difference associated with the assessment of actual data management is even larger. Here, the gap of the organizational dimension is almost 14 percentage points.
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The participants appreciated the knowledge exchange and knowledge transfer with experts who have a passion for topics related to Master Data Management. Overall, 97 percent of the participants surveyed stated that they were satisfied or very satisfied with the organization and topics of the forum. Furthermore, the “inspiration from CAMELOT about future oriented possibilities” and “great insight of the options what Camelot makes possible” were mentioned as highlights. And we are striving to surpass this high bar. Preparations for the next CAMELOT Management Forum for Data & Analytics are already in full swing. In the new year, the focus will be even more on intelligent automation and analytics use cases with live demonstrations and hands-on examples from introduced solutions. Innovation activities will be even more present as Trend Radars and Analyst Reports will be incorporated. Also, organizational topics like establishment of an MDM organization, common pitfalls during projects and deep dives into projects will come more into focus.
See you soon!