MDM Solutions
Most organizations today operate a number of different systems that all contain important data on customers, the business or other crucial business KPIs such as CRM’s, ERP’s, etc. This leads to data silos, duplicated data, incomplete data and therefore, a disjointed view of the business.
​
Why is a Master Data Management Strategy important?
Companies increasingly need cost optimization, faster product launches, and more efficient regulatory compliance, and having an effective MDM strategy is critical for all of that to happen. Without it, cross-organizational data misalignment can lead to suboptimal decision making and decelerated growth. But developing a Master Data Management strategy and putting it into practice across an organization is no simple task, and achieving dependable data quality is one of the biggest pain points for enterprises.
MDM platforms should support all four main styles of master data management:
-
Centrally authored- In this style data is authored in the MDM, other systems subscribe to the MDM for master data (or the MDM pushes the data into downstream applications).
-
Consolidation - Source systems feed data into the MDM for consolidation into golden records
-
Coexistence - A mashup of centrally authored and consolidation that allows for creation of data in multiple systems (including the MDM).
-
Registry - Rather than consolidating records, joining/aligning unique identifiers from across all the systems into join tables.