Restless to share what we know about Oracle DRM… Curious to learn how data connects our digital world… Eager to give our contribution in building the data bridges of the future… DRM is indeed the acronym that inspired the Data Restless Millennials blog name. It is also a reference to the Oracle Data Relationship Management product that will be highlighted in many of our blog posts.
Implementing DRM enables organizations to achieve a standardized and centralized management of their metadata for various entities and attributes (accounts, products etc.). The approach for achieving this standardization involves three essential components: People, Processes, and Technology. In the Data Restless blog we will share tips, tricks and best practices covering topics across the following areas, but not only:
- Importance of Data Management
- Data challenges facing organizations
- Cloud trends for data management
- Processes that enable Enterprise Data Management standards
- DRM implementation best practices, lessons learned, workarounds
- DRM integrations design and workarounds
- DRG implementation best practices, lessons learned, workarounds
- Project management approaches and best practices for DRM projects
What is DRM?
As described by Rahul Kamath, the DRM Product Manager at Oracle, DRM evolved from an analytical MDM solution to an enterprise master data management solution that served a variety of front office, back office and performance management use cases.
In the front office, customers utilized DRM to master sales territories so they could optimize equitable distribution of sales opportunities across salespersons. B2B companies managed corporate hierarchies to align accounts with sales teams, understand aggregate credit risk across client entities, and model cohesive sales strategies based on a data-driven understanding of complex, ever- changing, customer organizations.
In the back office, customers utilized DRM to model structural and business model changes. Organization leaders and operations experts modeled legal entities, employees and cost centers to propose, approve and deploy organizational changes. Financial systems leaders commissioned the use of DRM to redesign their chart of accounts and modernize their business model to compete better. Others used this platform to simplify and reduce their sprawl of GL applications across operating currencies and business divisions, to push down processing to sub-ledgers and refocus their GL to enable better group level business insights.
Who are the #DataRestless Millennials?
As suggested by the blog’s name we are a group of technology professionals who are currently focused on implementing and managing Oracle DRM solutions. It so happened that we’re also millennials who love working with data. We have become quite restless to share what we know about master data management, data quality, data governance, analytics, data visualization, agile project management and other technology related topics. Check out our LinkedIn profiles to get to know us better:
We hope our group of bloggers will expand in the future!
Please send us an email at firstname.lastname@example.org if you’re interested to publish a data management / Oracle DRM related post.