What is Master Data?
Master Data is the core data of customers, suppliers, employees, patients, products, materials, stores, plants, recipes etc, that runs through an enterprise’s digital ecosystem. It is the foundation that enables enterprises to build analytical capabilities and manage their business.
A Master Data Management platform unifies master data across the data supply chain. Enterprises can manage, govern and analyze their master data with an MDM platform.
Key characteristics of a future-ready MDM platform
A system that provides Trusted data, Insights on business process management and empowers business to act on Relevant master data entities
Accommodates for data volume, velocity, and variety (structured and unstructured data) through modern elastic technologies.
Enables end to end collaboration through applications which enable: Data onboarding, Data Quality Management, Data Governance and Data Syndication
A System of Trusted Data
“One source [of data] that everyone in a company agrees is the real, trusted number for some operating data.” – Information Week
As data systems become more complex, and oftentimes fragmented, business leaders seek to find the one piece of data from their various applications that should be relied upon for reporting a certain variable of the business. A Master Data Management (MDM) platform provides the trusted data source which can be relied upon to construct business strategies and decisions hence maximizing customers’ experience.
A System of Insights and Relevance
Empowering, democratic; simply a better way to run your business!
By 2017, 70% of new database deployments will leverage the cloud. A future-ready MDM platform accommodates for data volume, velocity, and variety (structured and unstructured data) through modern elastic technologies with a cloud-first thinking. This MDM platform is equipped with a modern UI and complimented with a powerful user experience. Business users are empowered to mine insights and provide relevant data to their customer’s along their purchase lifecycle.
A System of Cross-Functional Collaboration
Create your winning circle with effective contribution from all!
Magical results and insights can be created when data talks in real time, across all business verticals. An MDM solution improves coordination, interaction, and governance over a vast pool of data. Thereby moving data faster to the customer and increasing your up-sell and cross-sell opportunities.