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Mastering Your Data to Create a Single Point of Reference across the Enterprise

Accurate analysis and reporting is greatly dependent on the quality of an organization’s master data. Thus, it is important to have a sole source of common business data that is trusted and used across systems, applications and processes of an organization. To remain competitive, companies of today need to leverage data to gain insight into their customers, products and services that directly   impacts the business. To do this, companies must have a reliable single point of reference for all their master data.

Master Data Management (MDM) enables an enterprise to manage all its critical data and establish a common point of reference. MDM seeks to ensure that the business does not have multiple versions of

the same reference data in various systems and applications which often occur in large organizations.

Master Data Management is increasingly being recognized as a key component of Data Warehousing & Business Intelligence and a prerequisite to Big Data & Advanced Analytics.

MDM is defined as the technology, tools and processes required to create consistent and accurate lists of master data.

A typical MDM use case scenario is the Single View of the Customer which requires all master data pertaining to the customer be combined from all the various data source systems in the company.

Organizations can achieve a single point of reference or a Single View of the Customer via the following methods: 

  • CRM systems provide a single repository for all customer interactions which also contain all customer information.
  • Data Warehouse dimensions often includes customer data that is modeled for analysis and combined with transactional data and other dimensions.
  • MDM tools provide support for data cleansing, standardization, matching, survivorship and rules to eliminate duplicates and incorrect data.

Info Alchemy provides consulting and outsourcing services for MDM implementation, training, support, including managed services and staff augmentation.

Master your data and achieve a single point of reference. Contact us.

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