logo
logo
AI Products 

What is Master Data Management

avatar
Dataio
What is Master Data Management

Master data management (MDM) definition: A technology used by large companies to identify, collect, match and merge data to create what is called a "single view of the data" or "single source of truth," which is the foundation for a digital transformation. It removes duplicates and standardizes master data, and it’s elements such as first name, last name, mailing address, phone and email address. Also, MDM incorporates rules to eliminate incorrect reference data from entering the system.

What's MDM on a business level, just? And how do companies introduce this instrument in their company infrastructure? By simply managing master data, a company will acquire consistent, standardized, precise and trustworthy business information to run their enterprise. A frequent requirement fulfilled by master information management is to obtain a single view of the client (SVOC).

When managed in an MDM technology system, master data is often referred to as a "golden record." It is common to talk of where the data is "mastered". This is accepted terminology in the information technology industry, but care should be taken, both with specialists and with the wider stakeholder community, to avoid confusing the concept of "master data" with that of "mastering data"

Read More: TOP 5 REASONS WHY MDM PROGRAMS FAIL

What is Dataio’s definition of master data management?

Dataio’s definition is, “Master data management (MDM) To bring the power MDM/PIM systems to all organizations. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies and chart of accounts.”

Dataio is a master data management solutions provider. We provide consulting services & specialize in Implementing the Riversand MDM Platform.

collect
0
avatar
Dataio
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more