Master Data Management in Practice

Master Data Management in Practice

Master data describes basic information that is essential for operations in a specific business or department. General examples of master data are customer, location or product information. However, the specific data collected varies from industry to industry and even from company to company.

The process of gathering, maintaining and providing master data is known as master data management (MDM). The goal of MDM is to break down data silos, to reduce data management effort and to improve the overall master data quality.

To do so, MDM provides the entire company with one centralized, accurate and up-to-date version of data. Thus, it allows to couple processes that actually run through different departments. Similarly, thanks to MDM, business analyses from different areas of the company can be compared with each other.

Learn more about master data management, its benefits and the main keys to a successful MDM implementation in this whitepaper.

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