A Data Architecture that includes Master Data Management (MDM) hubs significantly improves an organisation’s ability to sustain high quality data and can be a powerful enabler for achieving compliance and successful digital strategies.
Companies are collecting more and more data on a daily basis, and the increased speed of doing business has resulted in less control over how, why and when this information is collected and changed, often forcing lower quality (untrustworthy) data to be tolerated in day to day business. This has led to silos of departmental applications, each having their own copy of critical data such as that relating to customers, products, suppliers or employees. Whilst this may offer some short term benefits, the disjoint approach to data results in misaligned information across multiple systems, and it quickly becomes counter-productive to any initiatives requiring a holistic view of the enterprise, such Customer Centricity, BI or CRM.
To compound these problems, customer or supplier data specifically is usually stored and orientated around account numbers or other product or service identifiers, making it difficult to discover useful links, hierarchies or dependencies between accounts. This in turn effects customer satisfaction and results in increased costs, as the need to continually reactively align data, its context and its meaning, takes its toll. Master Data Management (MDM) ensures that this critical data is managed and shared consistently and effectively on an on-going basis.
A critical success factor for successful MDM, therefore, is having high quality data to work with, and InfoBluePrint's focused service offerings, which assist companies in achieving and sustaining high quality information, are highly beneficial to any organization embarking on an MDM initiative. MDM requires a fundamentally new data architecture and associated technology in the form of "data hubs", but implementing these alone will not improve the quality and value of data, and nor will they deliver, for example, a "single-view of customer". InfoBluePrint can help your organisation to implement successful Master Data Management that aligns with business objectives and delivers business value.
Master Data Management solutions require a number of different elements to be successful. In addition to implementing an MDM hub to persist golden records of your master data, a holistic approach is necessary and other key elements of the solution include Data Quality Improvement, Data Governance, Data Migration and Integration. InfoBluePrint's experience in all of these different aspects of a Master Data Management solution enables us to bring it all together for you, and to assist you with:
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