What is Master Data?
Master Data Management (MDM) solves business challenges
To address critical business challenges like high operational costs, undifferentiated customer service, high risk associated with regulatory compliance, the need to introduce new products quickly, and the inability to cross-sell and up-sell, MDM provides a trusted view of critical entities typically stored and potentially duplicated in siloed applications - customers, suppliers, partners, products, materials, accounts, etc. MDM is a discipline that provides a consistent understanding of master data entities, and their relationships and hierarchies.
MDM is a key component for addressing big data challenges. Half of the big data initiatives today have customer-centric objectives. To improve the customer experience, organizations need to do what master data management has been doing for years – start with the facts about customers by defining the golden record.
How Master Data Management Serves the Business
Learn how leading enterprises leverage the power and flexibility of MDM to drive business results.