What is a Master Data Management (MDM) System
Master Data is any data that is deemed by the enterprise as being valuable to their operation, growth or profitability. For example, it is valuable for a retailer to know a customer’s preference such as price preference or ethical sourcing requirements to offer them the most suitable product first.
What is Master Data
Master Data is any data that is deemed by the enterprise as being valuable to their operation, growth or profitability. For example, it is valuable for a retailer to know a customer’s preference such as price preference or ethical sourcing requirements to offer them the most suitable product first.
Why Use and MDM System
Improve the quality and consistency of data across all channels
Build correlations across channels
Streamline the onboarding and enrichment process for product data providers
Establish and Manage a “Golden Source’ for verified Data for downstream systems
Who Needs an MDM System
Any business, large or small, can benefit from an MDM System. If you have said to yourself ‘I could improve my sales if I could only figure out ABCD’ or ‘I could improve the shopping experience only if I could get this data from the vendor’ then you are a candidate for a Master Data Management Solution.
The MDM Process
Acquire
Aggregate information from disparate systems (Imports, Portal, GDS, ETL, etc)
Model a complete view of products and align with all upstream/legacy systems
Manage and associate multiple domains (Product, Supplier, Location, Asset, Customer etc)
Author and enrich data with a full suite of Persona based intuitive business UIs
Manage
Establish trusted information with workflows and advanced business rules
Segregate business units to drive efficiency with enhanced role based security
• Manage multiple channels with advanced hierarchy management and relationships
• Collaborate through a full complement of workflow UIs and tooling
Act
Synchronize information across the enterprise (Exports, XML, web services, etc)
Lower cost of ownership with industry solutions and accelerators
Tailor information to specific channels with hierarchy and channel specific tooling
Adapt the data model, business rules, and workflows with less reliance on IT