Stibo Systems - The Master Data Management Company

What is Master Data Management?

Everything you need to know about master data management (MDM) and how it brings data together from across the enterprise and business ecosystem to create a single, accurate and transparent record of the truth.

What is master data management all about?

Master data management (MDM) is the core process used to manage, centralize, organize, categorize, localize, synchronize and enrich master data according to the business rules of the sales, marketing and operational strategies of your company.

Master data can take the form of product, customer, supplier, location and asset information, in addition to any information sources that drive your business.

The efficient management of master data in a central repository gives you a single authoritative view of information and eliminates costly inefficiencies caused by data silos.

It supports your business initiatives and objectives through identification, linking and syndication of information and content across products, customers, stores/locations, employees, suppliers, digital assets and more.

Master your data using a master data management platform to support your business strategy.

What is Master Data Management? And Why You Need It Discover the value of master data management to deliver better business outcomes. Get the White Paper
The Complete A-Z of Master Data Management In this ebook, we give you an overview and a definition of the most common master data management terms and abbreviations. Get the Ebook
Building the Business Case Start building your own success story about how MDM will help create value in your organization. This ebook is the ultimate guide to identify value and promote MDM to the organization. Get the Ebook
View All Resources
 

What are common challenges that master data management overcomes?

Master data management is a key enabler for providing a single, trustworthy view of critical business information. Trusted data sources help reduce the costs of application integration, improve customer experience and yield actionable analytic insight. Master data management delivers this by overcoming three common challenges:

 

Video Using master data management to deliver better data, better business and a better world.

Success in the digital economy means giving customers what they want. One thing they want more of: trustworthy data on product ingredients, origin, environmental impact and more. Master data management enables the controlled visibility to deliver it. Ready to start creating a more transparent world?


Watch the Video
Video on how to use master data management (mdm) to deliver better data, better business and a better world
Why is master data management important?

Master data management connects, masters and shares data from all your systems, including ERP, CRM, ecommerce and more. It allows you to create a 360° view of your information, including everything from the buying history of your customers to product availability and supplier interaction.

Master data management is important because it allows businesses to:


  • Focus product, service and business efforts on activities that increase sales, and de-prioritize those draining time and resources.
  • Accelerate data maturity by improving the accuracy, visibility and clarity required in digital business.
  • Enable data transparency to meet the evolving needs of customers for personalized, engaging data-rich experiences.
master data management (MDM) benefits
EBOOK Transforming Business with Master Data Management For Dummies

Harness the power of data transparency and start making better business decisions using trusted data. Read Transforming Business with Master Data Management For Dummies and learn about using master data management to ensure data is accurate, updated and shareable across the enterprise value chain.


Download Your Copy
Transforming Business with Master Data Management For Dummies
 

Unlocking the value of master data to drive innovation, differentiation and growth.

Master data management empowers business to create data transparency. Ensuring visibility and access to trustworthy data across the business ecosystem delivers multiple advantages.

Master data management and the cost of poor quality data.

As businesses grow, IT infrastructure gets more complicated. Acquisitions and expansion into new markets and countries can result in multiple systems, applications and technologies. This fragmented environment creates significant data management difficulties.

Master data management provides an organized approach to data management and increases the value and quality of data. It connects information, people and processes to help businesses achieve objectives and improve results.

bad data solved with master data management
MDM ROI Calculator Put a figure on the return on your data management investment

Data management projects are hard to quantify. There is great financial value to be gained from improving data quality and automating data processes. But how do you estimate it? The ROI Calculator can help you build your business case for master data management.

Get your customized ROI report
ROI-Calculator
Read more Read less
Read more +
How to approach master data management with three basic steps.

Whether you're considering a master data management solution, implementing but don’t know where to start or you already have master data management capabilities but feel they need to be updated, these three steps will help you get started.

Read the Blog
how to approach master data management
 

What are the benefits of master data management?

Master data management is a centralized solution to bring data together from across the enterprise, enabling businesses to maximize the value and quality of data by eliminating silos, implementing governance and sharing it with everyone that needs it. The results enable them to:

How to create a solid RFP for master data management to underpin your enterprise data strategy.

The process of identifying and purchasing enterprise solutions needed to operate a business can vary widely, depending on the size and industry focus of the organization and the nature of their current infrastructure. Explore this useful guide to help you identify the right solution and/or partner.


Get the Guide
How to Create a Solid RFP for Master Data Management (MDM)
 

What are the different types of master data?

Master data is a single source of common data, but there are many distinct master data types. They are often duplicated across the business and stored on disconnected, siloed systems with little agreement on standard definition.

Product data Rich and accurate product data helps customers make informed buying decisions. Studies show giving people better information and content boosts online sales and reduces returns. High-quality product data also facilitates accelerated vendor onboarding. Customer data Accurate, timely and complete customer data improves business initiatives and streamlines processes for both B2B and B2C companies. It drives accurate segmentation and reporting, more personalized experiences, increased sales, regulatory compliance and more. Supplier data Store and access all data related to your suppliers in one repository and reference it to any other data domain to achieve a 360° view. This results in greater control, closer relationships and an improved supplier and product onboarding process. Location data Location data is essential for managing your physical stores, offices, warehouses and more. Combine location data with product and supplier data to gain better insight into your data supply chain. Party data Mastering party data allows you to create the relationships that are vital to gain an accurate understanding of the value of each of your records. It makes it easier to identify customers and provide better customer service. Reference data Keeping reference data fields such as country, currency and conversions up-to-date is critical to making key business decisions, understanding their impact on the performance of your systems and meeting regulatory compliance. Asset data Managing asset data with disparate systems across departments can drag down data quality. With all asset data linked together in a central repository you have an accurate overview of who is using what equipment, where it is stored, and when it was maintained and by whom. Employee data Employees are valuable assets. Managing employee data in a centralized master data management solution enables you to connect it with other domains and gain new insights, such as which employees have worked on what projects, where they’re located and their skill levels. Ledger data Master data management prevents ERP from becoming a ledger data silo. By connecting ERP with other systems and third-party sources, master data management enhances efficiency and becomes your single source of truth, consolidating product data as well as supplier and vendor information. Vendor data For manufacturers, trustworthy and visible vendor data is crucial to secure correct billing, achieve compliance with vendor and end-consumer demands and quickly expand with new vendors who are typically retailers, the manufacturing company’s B2B customer.
 


What are the four most common master data management solutions?

Master data management extends the value of IT investments through integration with enterprise applications and systems. Master data management solutions cover different data domains relevant to all of your business challenges. The four most common master data management solutions are:
Customer Master Data Management Customer Master Data Management

Gaining a single view of customers is challenging due to data being scattered across multiple, disconnected systems. The inability to provide trustworthy customer data and insight can lead to a poor customer experience, lost revenue and customer churn. Customer Master Data Management connects, cleanses and enhances customer data, providing a foundation for personalized experiences. As well as enhancing the ability to adhere to and provide data transparency to support privacy, governance and regulatory compliance.


Learn more about Customer MDM
Supplier Master Data Management Supplier Master Data Management

Supplier Master Data Management enables a single, trustworthy view of your suppliers and their products for greater savings and efficiencies. It enables you to accelerate onboarding of supplier and product data, mitigate risk, increase product assortments and support supply chain resilience. With Supplier Master Data Management it become easy to centralize and proactively govern supplier and product data which results in greater data management cost savings, efficiency and customer confidence.


Learn more about Supplier MDM
Product Master Data Management Product Master Data Management (PIM)

Also referred to as product information management, Product Master Data Management enables businesses to create a single source of truth for product data, and to share it with speed and confidence with customers and business ecosystem partners. The ability to enable and manage data transparency empowers businesses to address growing consumer demand for information and insight into product ingredients and origin, fueling engaging, trustworthy relationships while maintaining complete privacy and control.


Learn more about Product MDM
Location Master Data Management Location Master Data Management

Gaining a single, trustworthy view of your location information, leveraging built-in data quality, governance and integration capabilities becomes possible with Location Master Data Management. Location Master Data Management enables businesses to manage, maintain, update and seamlessly share location and site master data across multiple communication channels and applications to thereby, achieve a single, trusted view of your geographic, site and inventory data, which enables exceptional customer experiences and boost profitability.


Learn more about Location MDM
According to Accenture, knowing a customer’s purchase history makes them 65% more likely to choose you over a competitive offering.
 
What are the core capabilities of master data management?

Master data management delivers core data capabilities that connect and provide information to every point in the business, enabling teams to drive innovation and digital transformation, including:

Acquire: Consolidate data from multiple disconnected, often siloed systems to produce a complete trustworthy picture.

Profile: Link entities to create new information.

Cleanse:
Generate accurate, well-structured data that is validated, up-to-date and easy to use in other systems.

Manage: Streamline and automate business processes, fuel decision making, implement data governance, ensure compliance and more.

Share: Drive collaborative efficiency and growth by ensuring consistent, reliable, transparent access for customers and value chain partners.

Protect: Know where your data is to make it easier to secure and ensure privacy.

Product Master Data Management - Master data management capabilities
Getting started How to achieve success with master data management.

The more you understand the complexities of your business challenges, the more deliberately you can begin to choose your master data management solution. To help, here are four basic things you’ll need to take into consideration, before you embark on your journey to MDM and business success:

How to achieve master data management success

Build the business case
Since there are many stakeholders and factors involved in any large-scale IT project, the below guide will help you build the business case.

Align with your mission
Consider how your plan aligns with the purpose of your business. You should also develop your roadmap to highlight the obstacles you need to overcome.


Get the Ebook

Choose the right approach
Consider the available delivery options. For example, choose either a linear or an agile approach.

 

Quantify business value
Consider what success looks like to you and establish clear, attainable metrics to track and measure results.

Success stories

Unlock the power of information through better data management.

marks and spencer success story A single, well-managed source of data and increased automation have resulted in a system with reduced input errors and faster product publication. Read the Success Story office depot success story The business supplies and services provider slashed time-to-market and input errors by implementing a master data management solution. Read the Success Story newell brands success story Learn how a global marketer with a wide product range across brands centralized their product data to improve data quality and simplify their business. Read the Success Story

READY TO SEE MORE?

Let's talk about how master data management can bring data transparency to your business with an easy and scalable solution.
get a demo of our master data management solution