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Master Data Management
Master Data Management
Master data management (MDM) plays a vital role to ensure data quality across business systems in organizations. The goal is to have a trusted view in all business information systems while saving time and costs.
With a good Master data management solution business systems share master data assets to be consistent despite their differences in level of detail, technology platform or business purpose.
Master data management solutions keep systems synchronized in an ever changing environment.
Not only changes that occur due to system upgrades & migrations, mergers & acquisitions and reorganizations but also regular changes and additions should be managed to ensure enterprise governance policies.
Master data definition
Master data is: names, codes, descriptions, properties and attributes used by systems to define data.
Examples of master data are:
- customers, suppliers and employees
- cost centers, legal entities and management structures
- key performance indicators and chart of accounts
- stock keeping units and product portfolio
Master data management components
A master data management solution is the central hub in the landscape of business applications and databases. The hub exchanges master data including:
- workflow management
- validations and verifications
- impact analysis
- version control
- comparisons and harmonization
Master data management categories
There are two main master data management categories:
| Analytical master data management |
Operational master data management |
| Hierarchies and structures |
Records with none or flat hierarchies |
| Alternative hierarchies |
Golden record with categories |
| Performance management, Analytical and Business Intelligence applications and databases |
Operational applications and databases |
| Synchronization frequency determined by reporting cycle |
Real-time synchronization |
| Use business rules to derive attributes based on relationships |
Use external systems to manage duplicates and data cleansing |
| "what-if" versions for analysis |
"as-is" version |
Contact us
You can contact us by sending us a message from our website, send an e-mail to info@inovasion.nl or call Marco van der Kooij (+31 6 30 718 245) to find out how we can help you.
Supported technologies:
Oracle Hyperion Data Relationship Management (DRM), Microsoft Master Data Services (MDS).