Master Data Management
Master data is a reference data that defines and supports the key business processes of a company. Some of the most commonly used master data are Customers, Partners, Vendors, Employees, Products, Parts, Asset, Locations, etc. Every operational system has its own master data and the same data are often duplicated across multiple systems and applications. Maintaining a single and consistent view of the master data across various systems is a daunting task. The purpose of Master Data Management is to create and maintain consistent and accurate list of master data using the technology, tool set and processes.
One of the important components of MDM is to identify the master data source systems and asses the data quality issues by profiling the data for the violation of business rules, missing or incorrect values, duplicate records, etc. Another important component of MDM is to define the data model for the master data. When the master data is spread across multiple systems there is a need to collect and cleanse the master data before loading onto the MDM system. Data cleansing usually includes checking for completeness, correctness, standardization, de-duplication, data enrichment and address validation. Once the data is loaded and maintained in the MDM system, the master data needs to be integrated across various systems thru data integration technology.
One of the process components of MDM is to implement a data governance process to maintain the good quality master data thru data stewardship.
i2Fusion, Inc. consultants study your list of master data and come up with the ideal master data management solution for maintaining the master data across all the operational and data warehousing systems.
