What’s the Difference Between an Asset Domain and DAM?
By Kerry Young on Oct 23, 2020
The Master Data Management (MDM) world is full of acronyms. One acronym that turns heads is DAM, short for Digital Asset Management. But wait, isn’t there also an Asset Domain? The answer is yes – and while they sound similar, they describe two very distinct aspects of an MDM strategy.
Let’s take a moment to clarify the difference between an Asset Domain and DAM, including how they each bring value to an MDM implementation.
What is DAM?
Digital Asset Management is a module to store, categorize, and manage “unstructured” assets, like images, 3D renderings, audio and video files, and documents. Our MDM customers have applied EnterWorks DAM in extremely creative ways!
The old way of handling assets had photos stored by Marketing, assembly instructions stored by Engineering, bill of materials stored by Purchasing, etc. When you combine MDM with DAM, your data and assets are brought together into a single view.
Why is DAM important?
DAM is more crucial than ever, given the rise of digital commerce.
Digital assets enable online customers – whether B2C or B2B – to grasp the look and feel of products that they can’t experience in person. Digital assets not only encourage sales, they also help lower return rates by helping customers understand what they’re buying in advance.
There’s also consistency to consider. Customers expect consistent content across channels, with 72% of customers noting they would look elsewhere if they don’t get a consistent experience.
MDM with DAM tackles these issues by making it easier for enterprises to provide accurate, consistent, and compelling content wherever their customers shop.
We’ve covered DAM – How is an Asset Domain different?
An Asset Domain helps enterprises manage physical assets. These physical assets could include delivery trucks, warehouses, or machinery, to name a few.
How can enterprises apply an Asset Domain? They can leverage a single view of Asset Data to track maintenance schedules, lease renewals, or equipment repairs.
Why is Asset Data important?
As more enterprises expand globally (including mergers and acquisitions), physical assets grow in complexity and importance.
Take asset maintenance, for example. Up to 60% of asset maintenance costs are unnecessary and preventable. By utilizing an Asset Domain, companies can optimize maintenance schedules across asset types to ensure timely and efficient replacement and maintenance.
An Asset Domain can also help companies reduce risk, maintain compliance, save time and cost, and improve overall customer satisfaction. Furthermore, the Asset Domain can be particularly useful when its data is paired with other domains – like Supplier or Location – to coordinate product and asset delivery across locations based on customer needs.
Data Domains are Better Together
So now you know – DAM refers to managing digital assets, while an Asset Domain manages physical assets.
What DAM and an Asset Domain have in common is that they both work cohesively as part of a Multi-Domain MDM strategy. While the data segments are valuable on their own, they build upon each other to aid agile and data-driven business decisions when combined as part of a broader Multi-Domain ecosystem.
To learn more, download the Winshuttle Multi-Domain MDM Solution Overview.
About the author
Kerry Young joined EnterWorks in 2006 when Ennovative, Inc., the multi-channel publishing software company he co-founded, was acquired by EnterWorks. He directs EnterWorks’ operations and leads EnterWorks’ professional services and consulting organization, ensuring effective customer implementations and ongoing success. Mr. Young brings more than 25 years of technology and business management experience to EnterWorks, having served as CTO for a subsidiary of the Dow Chemical Company, and earlier as VP, Information Technology for Marshall Industries, a $1.7 billion industrial electronics distributor. He previously managed information systems for a subsidiary of McDonnell Douglas Corporation. Mr. Young holds a B.S. degree in Computer Science from Cal Poly, San Luis Obispo and an M.B.A. from California State University Fullerton.
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