Master Data Management
Data is the “raw material” used everywhere, some even says that "data is the new oil". Data is a then resource that needs to be managed!
Ensuring Data Quality and enabling Data Stewardship are the key enablers of turning data into information, that can be used for strategic advantage. It is a responsibility that should be jointly shared between business and IT.
Master Data Management (or MDM) begins where data quality software leaves off! MDM is a business capability enabling an organization to first identify trusted master data and then leverage master data to improve business processes and decisions.
MDM as a business capability has been difficult to achieve due to:
- The integration complexity and possible technical architecture alternatives,
- A lack of data governance and business ownership,
- Existing processes that impede the capture of high-quality data,
- Prohibitive implementation costs paired with poor scoping and prioritization.
The presentation below is an introduction to Master Data Management, and provide some hints to facilitate your journey into improving your data quality and making them trustworthy.