What is Master Data Management?

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Master Data Management (MDM) is a system that enables businesses to compile a comprehensive master file of all its critical data which acts as a common point of reference. The master data file can include both analytical and reference data. This data is then used to support business intelligence, and create a reference that showcases transactions and analysis. It is commonly implemented during the creation of a Single Customer View (SCV).

How does Master Data Management help organisations?

MDM streamlines the process of sharing data across multiple departments and personnel – the larger the number of different departments and units a business has, the greater the benefits. The main advantage of MDM is that it helps to ensure businesses don’t have inaccurate or duplicate records. Removing these duplicates helps to:

  • Improve the quality of insights you gain from your customer data.
  • Reduce the amount of wastage from doubling up on activities.
  • Streamline internal processes. 

How can you accelerate your Single Customer View?

Bloor: Single Customer View

Phillip Howard of Bloor Research explores how using data quality rather than (or alongside) an MDM system can help accelerate your SCV project.