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    Master Data Management: - An Introduction and Few Stats: MDM Is The Occasion To

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    Siddhartha Tripathi
    Master data management (MDM) involves maintaining a single version of key business data such as customer, product, and supplier information across an organization. Without MDM, this critical data is often duplicated and inconsistent across different systems. MDM improves decision-making, streamlines processes, and boosts efficiency. The MDM market is growing rapidly and was valued at $10.4 billion in 2009. MDM requires identifying, collecting, and integrating data from various sources to generate a single accurate view according to business rules.

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    Master Data Management: - An Introduction and Few Stats: MDM Is The Occasion To

    Uploaded by

    Siddhartha Tripathi
    52 views3 pages
    Master data management (MDM) involves maintaining a single version of key business data such as customer, product, and supplier information across an organization. Without MDM, this critical data is often duplicated and inconsistent across different systems. MDM improves decision-making, streamlines processes, and boosts efficiency. The MDM market is growing rapidly and was valued at $10.4 billion in 2009. MDM requires identifying, collecting, and integrating data from various sources to generate a single accurate view according to business rules.

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    Master data management (MDM) involves maintaining a single version of key business data such as customer, product, and supplier information across an organization. Without MDM, this critical data is often duplicated and inconsistent across different systems. MDM improves decision-making, streamlines processes, and boosts efficiency. The MDM market is growing rapidly and was valued at $10.4 billion in 2009. MDM requires identifying, collecting, and integrating data from various sources to generate a single accurate view according to business rules.

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    Download as docx, pdf, or txt
    52 views3 pages

    Master Data Management: - An Introduction and Few Stats: MDM Is The Occasion To

    Uploaded by

    Siddhartha Tripathi
    Master data management (MDM) involves maintaining a single version of key business data such as customer, product, and supplier information across an organization. Without MDM, this critical data is often duplicated and inconsistent across different systems. MDM improves decision-making, streamlines processes, and boosts efficiency. The MDM market is growing rapidly and was valued at $10.4 billion in 2009. MDM requires identifying, collecting, and integrating data from various sources to generate a single accurate view according to business rules.

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    Master Data Management: - An Introduction and few Stats

    Multiple copies of the same data lying at multiple locations have always plagued the agility of institutions, in general, and
    Retail and financial institutions in particular.

    For example, a customer has two logins, one to access banking accounts and another to access credit card information. If
    at a later date customer details change, he needs to login to two systems and change the address, in both instances. This
    problem arises because there are two separate master data copies maintained, in this case for customer data.

    Similarly Retailers and other organizations are challenged by the fact that key business data about customers, products,
    suppliers and locations is spread across disparate systems, retail channels, business units and locations. There is no single
    version of Truth

    MDM is all about maintaining a single version of master data across the enterprise.

    The analyst firm IDC predicts that the master data management (MDM) market will reach $10.4 billion in 2009 with a
    compound annual growth rate of nearly 14 percent.

    Gartner survey of data management practices, companies named MDM as the second biggest driver for their investments
    in data integration technology.

    MDM, when successfully implemented, improves an organization’s ability to adjust to rapidly changing business
    requirements and enables better decision-making. It also boosts operational efficiency by streamlining business processes
    and improving data quality.

    Master data might include:

     Customer/account/subscriber
     Product/item/service
     Vendor/account/supplier
     Legal entity/organization
     Geography/territory/region/location

    “Master data management (MDM) comprises a set of processes and tools that consistently defines and
    manages the non-transactional data entities of an organization (which may include reference data).
    MDM has the objective of providing processes for collecting, aggregating, matching, consolidating,
    quality-assuring, persisting and distributing such data throughout an organization to ensure consistency
    and control in the ongoing maintenance and application use of this information”.. Source Wiki-Pedia

    MDM is the occasion to:

    1. Implement a data integration platform that can access the facts about core business entities
    from anywhere in the enterprise
    2. Automate the creation of a single logically correct view, based on business rules that agrees
    with the facts in the real world
    3. Deliver that high quality master data to the current suite of business applications in real
    time

    7 Necessary features to expect from MDM tool/ solution


    1. Flexible Data Modeling Capability:
    2. Data Governance & Stewardship
    3. Security control: Security at different levels, such as table level, field level.
    4. Workflow engine:
    5. Data Quality Management:
    6. Integration Capability:
    7. Complementing SOA:

    Approach to Master Data Management

    1. Identify sources of master data


    2. Identify the producers and consumers of the master data
    3. Collect and analyze metadata about for your master data
    4. Appoint data stewards
    5. Implement a data-governance program and data-governance council
    6. Develop the master-data model
    7. Choose a toolset
    8. Design the infrastructure
    9. Generate and test the master data
    10. Modify the producing and consuming systems
    11. Implement the maintenance processes

    MDM Value Delivered

    Source: - Vinculum Solutions limited


    To know more about MDM and how it can help you organization contact

    [email protected]

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