Master Data Management (MDM) is the set of processes used to create and maintain a consistent view, also referred to as a master list, of key enterprise reference data in the data warehouse. This data includes such entities as customers, prospects, suppliers, employees, products, services, assets and accounts. It also includes the groupings and hierarchies associated with these entities. Many enterprises need MDM as part of their information architecture to create consistent and conformed reference data.
What does MDM mean for your organization?
- For companies such as those in retail or finance, MDM is about how you need to obtain comprehensive and consistent customer information. The lack of customer data integration is inhibiting cross-sell, up-sell and responsive customer service.
- For companies such as those that make products such as consumer goods, industrial products or medical devices, the issue is comprehensive and consistent data about products, parts and suppliers. Problems with this data has likely inhibited effective internal controls and the understanding of product profitability.
- For institutions such as health care providers and insurers, MDM is about a single view of patients, doctors and diagnostic codes.
How we've helped others with their MDM needs
- Our MDM solution helped a business-to-business product company increase their sales pipeline by gaining a better understanding of who was using their products and was a candidate for renewal, as well as who their prospects were.
- We developed an MDM solution to help a software company with a large, disparate sales force obtain accurate, up-to-date and consistent data on their customers despite the complexity of those customers' multiple locations, divisions, office locations and purchasing managers.