Farfetch: Bringing MDM to the Forefront of Luxury Fashion e-Commerce

For fashionistas, Farfetch is a heavenly marketplace for the most coveted luxury brands. The number of fashion brands that Farfetch offers will blow your mind, as well as your wallet, especially if you’re among their many avid shoppers.

While one may not associate luxury fashion with Master Data Management (MDM), the success of Farfetch can be attributed to its smart use of technology to promote and provide customers throughout the world with the must-have fashion items of their dreams. And MDM is at the heart of this.

Farfetch_MDM

Yasemin Kural, Head of Data Architecture at Farfetch, gave a highly creative and compelling presentation championing the value of MDM at the Enterprise Data and BI & Analytics conference in London this month.

According to Yasemin, MDM is core to Farfetch’s business: “Without valid and shared taxonomy, decisions become high and miss. Without accurate context, your company’s data and numbers have little meaning and without effective classification, problems are often mis-stated or mis-read.”

Farfetch_MDM

The issue is MDM isn’t currently that fashionable – pun intended – and takes commitment. Yasemin compared implementing MDM to Marie Kondo, famous for her trademarked KonMari method of organizing your belongs and ultimately your lifestyle.  She wittily paralleled KonMari steps for a better life with the principles of MDM.

Committing to tidying up would mean sponsoring culture change in MDM speak, imagining your ideal lifestyle would be defining your data strategy. And there were more: discarding – cleansing your data, tidying by category – defining data model, following the right order – establishing workflows and processes. Yasemin offered an uncannily similar, fun and imaginative way to prove the fundamentals of MDM.

Yasemin emphasized that MDM does not need to be expensive or take ages to get results. After just a few months of implementing the Kalido MDM product from Magnitude Software, Farfetch identified key areas of value. Kalido is currently being deployed to harmonize and enrich data for geographic dimensions. Farfetch is also considering the use of Kalido to help a key project to establish a unified customer profile, while ensuring GDPR compliance.

Quick strategic wins for an MDM initiative has to be the new normal to get MDM back in fashion — and Farfetch is paving the way with its creativity and style in conjunction with Kalido.

To learn more about how to run your business with trusted data with Kalido MDM, check out our video demos.

welcome-kalido-v-11

Welcome to Kalido MDM 11

Our latest version of Magnitude Software’s industry leading Master Data Manager, Kalido MDM 11 is now available – which represents the culmination of our MDM innovations.

Kalido V 11 release

Starting with MDM 10 in 2017, we’ve introduced and enhanced vast areas of the program.  A partial list includes:

  • New matching, merging and survivorship functionality in MDM Harmonization
  • A new way to build custom interfaces in MDM and MDM Workbench
  • Elastic search, that allows near instantaneous return of ANY data from ANY category based on ANY attribute, with rich logical operator support
  • A major revision to how to store and process data, drastically reducing processing times of large implementations
  • Direct support of ODBC connectors and gateways from our own Simba division and others
  • A new look and feel via an updated user interface while eliminating the need for retraining

This has been a three-year long effort with one goal in mind: providing the best value to our customers.  Besides introducing these and other features (many driven by customer requests), we have certified new versions of our supported databases and implemented many of the Kalido services to use all available memory.

We’re proud of these customer enhancements, but we are not done yet. We are working on many new features for our next version for 2020 and beyond.  Among the features that our customers can expect include: extensions to the API to better support real-time processing, connector and gateway support for export (e.g. sending governed data back to the source, or to downstream applications directly) upon publication, support for lookup in attributes that can hold multiple values, digital asset management (storing documents, pictures, etc. inside MDM), more survivorship options, and many more.

Now that we’ve migrated to a modern HTML 5 based user interface, we will continue to streamline operations and increase ease of use. These efforts will focus on increasing ease of use and making all tasks with MDM easier and quicker.

To see Kalido MDM in action, watch our videos that show off the new functionality and UI.

New application data management ideas

Five New Application Data Management Innovations in 2018

As we reflect upon 2018, it’s been a tremendous year of technology innovation and product momentum for Magnitude. We’ve invested in significant capabilities to help businesses address mission critical challenges across the enterprise data lifecycle. Read more

Master Data Management MDM 10 SP1 Released!

With the release of Magnitude MDM 10 SP1 on October 4, 2018, we have completely rearchitected the way we manage and process data.  What does this mean to the user?  Read on…. Read more

Product information modeling concepts and techniques

Turn Information into Knowledge – Business Information Modeling Concepts and Techniques

Applying a model-driven approach to data management is key for meeting the speed to market and flexibility needs of today’s businesses.

Rather than requiring a complete model of the entire enterprise-wide set of requirements before deploying the warehouse, Magnitude’s Business Information Modeler (BIM) allows you to start small, iterate, and deploy in increments. Read more

How to fix bad data: The benefits of MDM and DWA

Running your business and analyzing results with accurate and consistent data is mission critical, yet most organizations struggle with bad data. An IBM study estimates that $3.1 Trillion of America’s GDP is lost due to bad data and 1 in 3 business leaders don’t trust their own data.

Magnitude and a Postmodern ERP World

Magnitude was founded on a base of strong ERP knowledge (Noetix), acquired more (Datalytics Technologies),  and has recently been accelerating investment in the SAP ecosystem (SourceConnect product)  and the purchase of Innowera  and Every Angle. With that in mind, I finally got around to reading the Gartner report 2018 Strategic Roadmap for Postmodern ERP by Paul Saunders, Denise Ganly, and Mike Guay. This report states that organizations tend to focus on monolithic, vendor-first ERP strategies that do not support digital business initiatives and recommends a postmodern ERP strategy that includes the integration of differentiated and innovative capabilities that are beyond the core strengths of the common ERP platforms. Read more

Kalido-Heritage Products and Magnitude Software

I’ve worked with the Kalido heritage products since the late nineties. Sometimes I’m asked how being part of Magnitude has helped our products like Magnitude DIW and Magnitude MDM. One of the first examples was using the Noetix METL connectors to automatically build the semantic layer for some of the business intelligence tools. We used to use another method to do this that we had to pay extra for and didn’t fully control. If a customer asked us to change something, we had to raise the issue with the provider we used and then were at the mercy of their schedule to implement it (and in the worst case, sometimes denied the request). Fast forward to using METL, we now control the end to end process and could take advantage of other BI tools that METL supports in the future. Read more

Wide or Deep? MDM vs. PIM

Some of the most frequently asked questions we hear from our customers are:

  • Why do I need another MDM application?
  • What are the differences between MDM and PIM?
  • Do I really need an MDM and a PIM solution?

In many ways, these questions are based upon a faulty assumption, namely that product data management (PIM) and Master Data Management (MDM) are the same thing. While are closely related, but they are most certainly not the same – at least if you subscribe to our definitions of PIM and MDM.  In our view MDM has several goals: Read more

Connecting, Collecting and Understanding Data

I read with interest a Gartner report, Modern Data Management Requires a Balance Between Collecting Data and Connecting to Data, that made the case for a bi-modal approach to connecting and collecting data. The case being made is that being able to react “at the edges” of broader data infrastructure (making decisions based on real time data displayed on a tablet, for example) requires direct connection of processes and devices, while collection of data for operations and management insight requires a central collection point and rigorous validation of data accuracy and quality. However, ALL data requires a series of integration processes that describe, organize and integrate the information. That first step, the description, includes the location, trustworthiness and meaning of the data in question. Read more