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Master Data Management

Taster Data are a consistent set of identifiers and attributes describing the main business subjects (customers, products, suppliers, services). Master Data Management (MDM) is focused on managing, maintaining and security of your master data. In its basic form, master data management ensures that there is always the same version of a document used across the organization, for example pricelist or list of customers.

MDM can offer following processes:

source identification

fault detection and automatic repair

transformation

standardization

rules setting

data collection

data enrichment

MDM implementation project (since it is about acceptation of a certain approach to data handling, not only implementation of a specific technology) will consist of several steps:
  • Master Data identification
  • Identification of users and creators of Master Data (consumers, producers)
  • Extraction of available metadata related to Master Data
  • Nomination of employees responsible for Master Data (data stewards)
  • Create Master Data model
  • Select technology to process Master Data
  • Design infrastructure
  • Generate Master Data
  • Adjust source applications (consumers, producers)
  • Set data maintenance process

MDM implementation benefits:

  • Complete customer and product data bring business opportunities
  • Better customer service resulting in lower customer churn rate
  • Better efficiency of sales processes
  • Lower costs of IT and lesser expenses on applications and systems integration