It's not too late to know what MDM (the true story of the masters) means
Posted: Tue Jan 21, 2025 10:40 am
Find out what MDM means and how master management can make BI systems and data warehouses more robust and consistent.
Is your master data broken? Do you think that there may be duplications in master data throughout the business? Do you know that by improving control over MDM you can optimise your company's performance? The pressure of data volumes, the coexistence of different operating systems, information silos, interdepartmental divisions... everything affects operations and processes, hampering their results, and yet many people do not know what MDM means .
You may be interested in reading:
Product information and MDM: the knowledge strategy
What does MDM mean and what are the requirements for such a gcash database system?
The acronym MDM stands for Master Data Management . It is a set of processes, policies, services and technologies that are used not only to manage, but also to generate and maintain the data associated with a company's core business entities. In a typical system of record, a master, as it is also known, would include entities such as customer, supplier, employee or assets.
It should be noted that, despite its many advantages, Master Data Management is not an obligation, but rather an option (highly recommended); it can be purchased from a service provider or built , and that master data management is not associated with transactional or analytical data. Thus, although customers are part of the master record, their orders have nothing to do with what MDM stands for.
The requirements that any master data management system must meet can be summarized in five . They are the following:
Define and maintain metadata for master data entities in a repository.
Acquire, cleanse, de-duplicate and integrate master data into a central master data warehouse.
Provide a common set of shared master data services for applications, processes and portals, which can be invoked for access and maintenance.
Manage master data hierarchies, including a change history and version logging.
Ensure that changes to master data are synchronized with all operational and analytical systems that use sets or subsets of that data.
Master Data Management: Creating a Master Data Strategy to Drive Business Outcomes
The 5 key benefits of master data management
Companies that already know what MDM means have begun to experience its benefits. The most important is that it provides greater solidity and consistency to BI systems and the Data Warehouse , and it does so by:
Provide master metadata for use in dimensional data models and cubes.
Provide high-quality master data as a trusted data source for ETL processes.
Deliver federated views of master data across disparate systems.
Allow tracking of different versions of hierarchies and their changes over time.
Provide trusted data for analytics and reporting.
Is your master data broken? Do you think that there may be duplications in master data throughout the business? Do you know that by improving control over MDM you can optimise your company's performance? The pressure of data volumes, the coexistence of different operating systems, information silos, interdepartmental divisions... everything affects operations and processes, hampering their results, and yet many people do not know what MDM means .
You may be interested in reading:
Product information and MDM: the knowledge strategy
What does MDM mean and what are the requirements for such a gcash database system?
The acronym MDM stands for Master Data Management . It is a set of processes, policies, services and technologies that are used not only to manage, but also to generate and maintain the data associated with a company's core business entities. In a typical system of record, a master, as it is also known, would include entities such as customer, supplier, employee or assets.
It should be noted that, despite its many advantages, Master Data Management is not an obligation, but rather an option (highly recommended); it can be purchased from a service provider or built , and that master data management is not associated with transactional or analytical data. Thus, although customers are part of the master record, their orders have nothing to do with what MDM stands for.
The requirements that any master data management system must meet can be summarized in five . They are the following:
Define and maintain metadata for master data entities in a repository.
Acquire, cleanse, de-duplicate and integrate master data into a central master data warehouse.
Provide a common set of shared master data services for applications, processes and portals, which can be invoked for access and maintenance.
Manage master data hierarchies, including a change history and version logging.
Ensure that changes to master data are synchronized with all operational and analytical systems that use sets or subsets of that data.
Master Data Management: Creating a Master Data Strategy to Drive Business Outcomes
The 5 key benefits of master data management
Companies that already know what MDM means have begun to experience its benefits. The most important is that it provides greater solidity and consistency to BI systems and the Data Warehouse , and it does so by:
Provide master metadata for use in dimensional data models and cubes.
Provide high-quality master data as a trusted data source for ETL processes.
Deliver federated views of master data across disparate systems.
Allow tracking of different versions of hierarchies and their changes over time.
Provide trusted data for analytics and reporting.