Pitney Bowes Software (PBS), a global provider of data management, predictive analytics and communications management solutions, announced the latest release of its flagship Data Management Platform, Spectrum, incorporating master data management capabilities with a future-proof approach that helps organizations build, extend, understand and leverage complex relationships and hierarchies within and across organizational boundaries and into the realm of social networks and big data. With this release, Pitney Bowes Software is now the only Master Data Management (MDM) technology provider that can deliver actionable insight to drive efficient and effective customer interactions and communications across all channels by combining the disciplines of data quality, data integration and master data management with spatial, social and predictive analytics in one comprehensive solution.
According to Gartner, the worldwide MDM forecast includes upwardly revised projected revenue for 2015 of USD$3.2 billion, reflecting a compound annual growth rate (CAGR) of 19.1%. 1 Gartner also states that the ability to create, maintain and leverage a single, trusted, shareable version of master data is increasingly seen as an essential requirement in commercial and noncommercial organizations to support business processes and business decision making.2 Spectrum MDM addresses the industry need with a fast, agile and cost-effective solution that organizations can stand up quickly and begin to extract tangible business value.
The Spectrum platform develops relationship-centric master data views of an organization’s critical data assets regardless of whether the relationship (or network) spans process, roles, domains, hierarchies or interactions. Organizations can better understand influencers or brand ambassadors, predict churn, develop new pricing strategies and provide product recommendations. They can also detect non-obvious relationships and fraudulent patterns to mitigate risk. Insights are delivered through visual analysis, web services or event triggers to support both the operational and analytical needs of an organization.
“The key to establishing a long lasting and fruitful relationship with a customer is showing that you understand them and their needs,” said John O’Hara, President, Pitney Bowes Software. “Spectrum MDM is the only solution available in the marketplace that allows organizations to incorporate social, spatial and predictive analytical capabilities as part of their initiatives to develop comprehensive 360 view of their customers. The insight presented by Spectrum MDM can help organizations transform the system of record to a system of engagement, and that is very powerful".
The Spectrum MDM capabilities provides users with an intuitive and flexible data modeling approach that is not tied to a pre-defined schema, enabling organizations to jump-start their MDM needs in a fast and agile way, unlike the current solutions in the marketplace that require more of a waterfall methodology in rolling out MDM. This in turn enables a faster ROI without the risk of a big bang implementation. More importantly, Spectrum MDM allows organizations to future-proof their investment in an MDM technology and prepare for the big data implosion.