Stibo Systems MDM Platform

MDM stands for master data management.

MDM software is the technological component of master data management. These tools help organizations to collect, cleanse, standardize and integrate master data from various sources into a single repository of trustworthy data. MDM software provides functionalities such as data integration, data profiling, matching, merging, and quality assessment. They also often include data governance and stewardship features to ensure data accuracy, integrity and consistency over time.

Master data management (MDM) tools are software platforms that help organizations create and maintain a single, accurate and consistent view of their most important data assets, known as master data. This data can include information about customers, products, employees, locations and other critical business entities. Typical features include data modeling, data integrations, security, data quality, data profiling, and data governance. These tools are designed to ensure data accuracy, consistency and reliability throughout the organization.

Master data management (MDM) ensures that an organization's key data – such as customer, product or location information – is accurate, consistent and reliable across all systems. It does this by:

• Data Consolidation: Aggregates data from various sources to create a single, unified view of master data, eliminating redundancies and inconsistencies.
• Data Quality Management: Ensures accuracy, completeness and reliability of data through validation, cleansing and enrichment processes.
• Data Governance: Provides tools for defining, implementing and enforcing data policies, rules and standards to maintain data integrity and compliance.
• Data Integration: Facilitates seamless integration with other systems and applications, allowing for efficient data exchange and synchronization.
• Bidirectional Data Sharing: Ensures real-time data synchronization between the MDM system and other source systems, keeping all systems in sync and maintaining data consistency.
• Third-Party Data Enrichment: Enhances master data by integrating external data sources, providing additional context, insights and accuracy.
• Match, Merge and Deduplicate: Identifies duplicate records, merges them and ensures that each entity has a unique, consolidated representation.
• Data Stewardship: Offers features for managing and monitoring data stewardship activities, such as data entry, approval workflows, and issue resolution.
• Data Analytics and Reporting: Provides insights through analytics and reporting capabilities, helping organizations make data-driven decisions and track performance.

Master data management (MDM) improves data quality, consistency and accessibility. It helps businesses make better decisions, enhance customer experiences and boost operational efficiency by providing a single source of trustworthy data.