MDM: Single Vision, Efficiency and Data Quality

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Discover the different ways in which your business can improve data quality through MDM (master data management).
What happens when each business area is responsible for its own technological choices? Or when company expansion involves acquiring new units from different geographic locations? In these cases, data quality is the first to suffer, as there is no single view and it is difficult to reconcile master data across the company.


Master Data Management: Creating a Master Data Strategy to Drive Business Outcomes

The root causes of data quality problems
A TDWI study " Master Data Management: Consensus-Driven Data Definitions for Cross-Application Consistency " highlights the importance of master data management in addressing issues related to poor data quality. Specifically, they reveal that:

83% of organizations have experienced problems due to poor quality master data.
At the same time, 54 % of them stated that they had overseas chinese in europe data the benefits derived from an adequate MDM .

These problems have repercussions both in the IT area and in the business area and are reflected in the appearance of inefficiencies in the organization that can take any of the following forms:

Inaccuracies in information that affect reporting, analysis and decision-making.
Delays in the launch of new products and services.
Insufficient quality in customer service, which reduces customer satisfaction and complicates retention.
Limitations in data management and governance .
Reduced visibility for data lineage.
Lack of understanding of master data homonyms .


The way to get data quality issues back on track and minimize the efficiency losses caused by disparate perspectives is to work on master data management (MDM) .