Any implementation of a Master Data Management (MDM), Product Information Management (PIM) and/or Data Quality Management (DQM) solution will need a business case to tell if the intended solution has a positive business outcome.
Prior to the solution selection you will typically have:
- Identified the vision and mission for the intended solution
- Nailed the pain points the solution is going to solve
- Framed the scope in terms of the organizational coverage and the data domain coverage
- Gathered the high-level requirements for a possible solution
- Estimated the financial results achieved if the solution removes the pain points within the scope and adhering to the requirements
The solution selection (utilizing the Select Your Solution service on this site) will then inform you about the Total Cost of Ownership (TCO) of the best fit solution(s).
From here you can, put very simple, calculate the Return of Investment (ROI) by withdrawing the TCO from the estimated financial results.
You can check out more inspiration about ROI and other business case considerations on The Resource List.
This site has an interactive service to help you jumpstart in your tool selection for a solution for Master Data Management (MDM), Product Information Management (PIM) and/or Data Quality Management (DQM) as described in the post The Free Bespoke MDM / PIM / DQM Solution Ranking Service.
The result of this interactive online service is a selection of the 7 best fit solutions for your MDM / PIM / DQM implementation and possibly also a few solutions that could complement your choice as a best-of-breed supplement for special features as for example data matching and product data syndication.
With the 7 best fit solutions the thought succeeding process could be one of the below 3 options:
Your organization, possibly assisted by a consultancy firm, makes a deeper evaluation of the longlist with the 7 best solutions typically by issuing a written Request for Proposal (RFP) to all or the most promising solutions in the selection. The response will give you a detailed understanding of the capabilities offered and a price indication including license price and model, required consultancy costs and internal resources needed.
Based on this you will make a shortlist of the typically 3 solutions with the best fit capability and total cost of ownership (TCO) ratio. You will invite the providers for a demo and engage in answering specific concerns. From there your organization can award the best fit solution provider with a contract and you can commence the implementation possibly assisted by an implementation partner.
Your organization, possibly assisted by a consultancy firm, can issue a Request for Proposal (RFP) to the providers of the shortlisted solutions. Based on the response, including indications for total cost of ownership (TCO), you will invite perhaps two providers for a thorough demo and engage in answering specific concerns. From there your organization can award the best fit solution provider with a contract and you can commence the implementation possibly assisted by an implementation partner.
One Step to PoC:
Your organization will invite the best fit solution provider for a Proof of Concept (PoC) possibly with the assistance of a consultancy firm. If the result is successful and the total cost of ownership (TCO) match your business case, you can commence the implementation based on a contract with the solution provider and possibly also with an implementation partner.
Select Your Solution:
You can access the free selection model here.