Master Data Management
How many customers do I have? Who are they? What do I really know about them?
These are just a few simple questions that sometimes can't be answered reliably.
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Trying to answer these question you realize that:
- You data is scattered across the enterprise and non of the system has a complete view of your clients
- Data is not accurate, has mistypes and out-dated information
- There are duplicates as well as garbage records left after misuse of the systems, testing etc.
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What you need is to bring all your data in one place, make it clean, remove the fake records and all the duplicates and finally start trusting this information. Then you can push corrected information back to original systems, build reports and use it for more accurate prediction of your business growth.
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Master Data Management is a core of this strategy. It allows defining processes and rules to get trustworthy information and keep it this way. Implementing Master Data Management often includes integration with existing systems of the enterprise and external services, data analysis, data governance and other practices.
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Implementing MDM often involves building UI to access and manage data, data governance rules to keep data clean and useful, building custom services and integrating MDM with external services, data analysis.
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