MDM – MASTER OF WHAT?
With the information overload that exists today, many organizations need someone to control, filter, cleanse, and structure their master data.
We have often heard that whoever controls data controls power, but it is also worth remembering that great power comes with great responsibility… So, in whose hands do we leave the proper management of our master data?
What is master data?
Most software systems have data lists that are shared and used by several of the applications that make up the system. For example, an ERP system will, at a minimum, have a customer master, an item master, and an account master. This master data is often one of a company’s key assets.
What is Master Data Management? – MDM
MDM is the acronym for Master Data Management. This important and increasingly popular business discipline is designed to eliminate the high number of errors, redundancies, and inconsistencies that exist in today’s diverse and fragmented information environments. MDM can help organizations improve productivity and drive operational performance by improving information accuracy and data sharing inside and outside the company.
MDM addresses the who, what, how, and where of both business activities and sales, purchasing, and the various interactions with customers, suppliers, and employees.
We are increasingly seeing recurring business challenges that require the creation of a data hub that spans applications, business processes, lines of business, etc. These are the typical use cases and the reasons why our clients are needing their own MDM.
What tools do we use to create a Master list and manage our Master Data?
Considering the MDM implementations available on the market, LISDATA seeks a solution that offers the following key features:
- Unified data management for MDM, data integration, and business process management (BPM).
- Multi-domain management in a single set of technology and hardware.
- A broad set of OOTB data integration connectors.
- Flexible deployments, such as on-premises, cloud, and as-a-service MDM.
- Integration with Big Data
- Horizontal and vertical scalability
- A platform approach that avoids vendor lock-in
Talend is the only provider that offers a complete MDM, ETL, data quality, BPM, Enterprise Service Bus (ESB), and a data integration solution in a single technology platform, compatible with many of our tools for Business Intelligence such as Qlik or Tableu.
It is also the only provider that offers data profiling in a comprehensive data solution through a unified platform, with a common code repository and tools to manage metadata.
An MDM solution is the pinnacle of data integration technologies, and it also has the ability to work with multiple domains, provide better mechanisms for maintaining data quality, and deliver its functionality as services, enabling easier integration into heterogeneous environments. MDM can help any type of organization achieve the goal of having a central repository of information, needed both for operations and for decision-making.
If you would like more information about Master Data Management (MDM), please contact us.