Better Manage Your Master Data

Master Data Management (MDM) can be highly useful for your organization by sharing master data across various applications and ensuring consistency. It helps eliminate inaccurate or duplicate records, maintains reference data consistency, and manages hierarchies and relationships within the business. The business benefits include streamlined processes, improved decision-making, and faster speed-to-revenue.

MDM and data quality are closely intertwined. Data quality acts as the building blocks for an effective MDM program. If the data itself is not of high quality, the potential benefits of MDM may not be fully realized. By focusing on data cleansing and standardization, organizations can prevent poor-quality data from entering the system and avoid unnecessary rework. Prioritizing data quality can also uncover underlying flaws and root causes, leading to better MDM implementation and value transmission.

While MDM initiatives encompass linking internal relationships, Single Customer View (SCV) focuses on presenting a unified and consistent perspective of customer data throughout the organization. SCV is an outcome that can be achieved through MDM, but they are not identical.

Although stack solutions for comprehensive data management are typically aimed at large enterprises, small and mid-size businesses (SMBs) have the option to implement MDM in a modular manner. Starting with data quality solutions, SMBs can gradually integrate different components that fit their needs. Beginning with steps like data cleansing and profiling allows for a focused approach to MDM implementation.