Answer added by:
Head of Business Intelligence / Data Warehouse3 years ago
An MDM system can act as the source of truth for any given entity that might not necessarily have an alternative "source of truth" in another system. Typically the MDM acts as a hub for multiple systems, many of which could allow (be the source of truth for) updates to different aspects of information on a given entity. For example, the CRM system may be the "source of truth" for most aspects of the customer, and is updated by a call centre operator. However, a customer may (for example) also update their address via a customer service web site, with a different back-end database from the CRM system. The MDM application receives updates from multiple sources, acts as a broker to determine which updates are to be regarded as authoritative (the Golden Record) and then syndicates this updated data to all subscribing systems. The MDM application normally requires an ESB to syndicate its data to multiple subscribing systems
Top Answer: In simple terms meta data means data about data. It means a particular data which represents another set of data. For example in java you use meta data which is nothing but representation of another function.
So, according to me it is usually the representation. I hope this answers the question.
Top Answer: Business Development
Business Development is a long term and continues process of systematic combinations of strategic analysis and marketing management based on the core activities or new expansion activities of an organization to explore in the potential market in line to increase the business growth in the future.
The management of an organization's resources in order to achieve its goals and objectives. Strategic management involves setting objectives, analyzing the competitive environment, analyzing the internal organization, evaluating strategies, and making sure that the strategies are rolled out across the organization.
Many definitions exist with different emphasis on functional process and activities that constitute marketing.
According to Charted Institute of Marketing: Marketing is a managerial process responsible for identifying, anticipating and satisfying consumer requirement profitably.
Whereas according to American management Association: Marketing is a process of planning and executing the perception, pricing , promotion and distribution of goods, ideas and services that create exchange to satisfy the organizational and individual requirements.
Business Development Concept
After careful review and deep study of the core business activities, develop strategies for business growth on a timely manner in relations with marketing strategies. Closely monitor the feedback and make changes as per the requirements.
Business development is closely working with top management of any organization, so that, focus more on the management strategies and accordingly make amends on development strategies.
Human Resource Concept
Recruit only efficient and result oriented staff in your team for better results, as market is so competitive and management is always looking for the better results for profits, no need to waste our time with fresh candidates. Most of entrepreneurs are looking for immediate profit and sudden growth of any business, they are not bothered about the market risks. In fact, market driver and result oriented staff in the team of business development is most important for strategic growth.
Digital marketing Concept
Global Companies are spending millions of dollars for digital marketing, it shows that it is one of important stand on the present competitive market and as a part of business development strategies. Careful planning and implementation of strategies are highly important throughout the digital marketing process.
The following points are to be very careful on this sector, implementation of effective marketing strategies, market research and deep study, market segmentation ( if required). Systematic approach and arrangements for product discovery, product production with modern machineries, innovative pricing technique, modern promotion methods, reduce distribution expenses and time with systematic distribution channels, profit oriented sales team or professional execution team is another important concept in business arena.
In simple sense, ideal and effective marketing method or strategies are the backbone of any business, if not implement carefully then the business might be on the verge of failure.
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