Thursday, 2 April 2015

The what and how of material master data management

material master data management

 What is material master data management?
Master data management is a comprehensive manner of ensuring that an enterprise’s critical data are linked to one file, which is the master file. MDM is more relevant to large organizations. The larger the organization, the greater may be the disparity between the different versions of data. An organization may have data for different needs, stored on the servers in different forms. An integrated Operational Data also known as operational data store is a volatile collection of data that supports an organization’s daily business activities.

Why does your business require MDM?
MDM is a key resource in any business since it assists in coordinating and ‘talking’ to the various systems in an organization. It has become of utmost important for good business performance. To elaborate, few of the basic systems in a typical business would consist of customer master, products master, accounts master, location master etc. Any organization struggling to consolidate its core data can benefit from MDM.

Without a clearly defined master data, the enterprise runs the risk of having multiple copies of data that are inconsistent with one another.

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