Master Data Management (MDM)


Image

Ever get billed by your bank for car insurance when you don’t own a car? Does your cell phone provider fail to send you a bill, yet keeps asking you for your address? Sounds like they both have a Master Data Management problem. The recent emphasis on regulatory compliance, Service-Oriented Architecture (SOA) and mergers/acquisitions has made the creating and maintaining of accurate and complete master data a business must-do.
Most software systems have lists of data that are shared and used by several of the applications that make up the system. For example, a typical ERP system as a minimum will have a Customer Master, an Item Master, and an Account Master. This master data is often one of the key assets of a company. It’s not unusual for a company to be acquired primarily for access to its Customer Master data.

One thought on “Master Data Management (MDM)”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s