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.
MDM is important for several reasons:
Overall, MDM is important for organizations because it helps to improve the quality of data used in decision-making, streamline operations and ensure regulatory compliance. It also helps to improve customer satisfaction, reduce costs and improve overall organizational performance.
MDM is an important discipline for organizations that want to improve the quality of their data, streamline operations and ensure regulatory compliance. However, not all organizations may recognize when they need MDM.
Here are some of the most common signs that may indicate an organization needs MDM:
Overall, if an organization is experiencing any of these signs, it may be a good indication that MDM is needed to help improve data quality, streamline operations and ensure regulatory compliance.
The core capabilities of MDM typically include:
By leveraging these core capabilities, organizations can create a single, reliable source of truth for critical data across the enterprise, enabling them to make better decisions, improve operational efficiency and enhance customer experiences.
When implementing MDM, developing clear data governance policies and processes is key to its success. This executive brief will provide insights into how to develop effective data governance policies and processes to support your MDM implementation, ultimately ensuring that your data is trustworthy and impactful.
Download Executive BriefLooking to build a successful MDM program that drives business outcomes and creates value in your organization? Our ebook is the ultimate guide to identifying the value of MDM and promoting it to your organization. It provides a step-by-step approach to building a comprehensive MDM strategy, choosing the right platform and implementing your solution. With our ebook, you can start building your own success story about how MDM will help create value in your organization.
Get the eBookChoosing the right MDM solution can be a complex process, but there are some key factors that can help guide your decision. Here are some steps to consider:
By considering these factors, you can choose the right MDM solution for your organization, ensuring that it meets your business requirements, aligns with your IT landscape and provides the functionality, scalability and data quality capabilities that you need.
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 MDM.
Get your customized ROI reportMDM can be deployed in different styles, each with its unique characteristics and benefits. The four main MDM deployment styles are:
To choose the right MDM deployment style for your organization, consider the following factors:
By evaluating these factors, you can choose the right MDM deployment style for your organization, ensuring that it meets your business needs, aligns with your IT landscape and complies with regulatory requirements.
Here are some best practices for MDM:
By following these best practices, organizations can effectively manage their master data and ensure that it is accurate, complete and consistent across the organization. This can lead to improved decision-making, operational efficiency and overall organizational performance.
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 guide to help you identify the right solution and/or partner.
Get the GuideImplementing MDM can be a complex process, but there are some best practices that can help ensure a successful implementation. Here are some key steps to consider:
By following these best practices, organizations can successfully implement MDM, improve data quality, reduce data redundancy and gain a unified view of their data. This can lead to better decision-making, improved operational efficiency and enhanced regulatory compliance.
The thing that has made Kellogg’s implementation unique is that it has been global from day one. When we evaluated solutions, it had to have that capability and be able to accommodate all the languages and nuances for our markets around the world."Global Director IT Marketing | The Kellogg Company Read the Success Study
When I think back about the collaboration I had with Stibo Systems, I see them as the role models I look for in new IT suppliers. ”Albin Junhede Sustainability Reporting System Lead, Oatly Watch the Video