What is Master Data Management?

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?

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

Read the report