Master data management(MDM) is the discipline that is intended to link all critical data into a single, reliable point of reference.
A common error is to assume that MDM is achieved through the implementation of a so-called MDM tool.
In fact, master data management can be achieved without the use of an an MDM tool, although in most instances the right combination of tools will provide a lower risk option than trying to build everything you need from scratch.
Data governance is about agreeing, sharing and enforcing policies and rules for the use of data to support your key business processes. If you are trying to implement an MDM stack without understanding how the data must be used by different stakeholders then you don't have MDM, you have data integration.
If you are thinking about MDM you should consider the Collibra Data Governance Center
Widely accepted to be the leading business- centric data governance platform available, the Data Governance Center allows you to quickly and easily document, govern and share your data asstes with both business and technical stakeholders.
A 2008 Information Difference survey found that, the average company had 6 customer master systems and 9 product master systems. Larger organisations had many more than this, with 13% of companies having more than 100 systems holding critical master data.
Implementing a MDM product is simply a recipe for consolidating all of this data into another database - creating, in essence, a 7th customer master or a 10th product hub.
Data quality is the differentiator that allows you to standardise and combine related records to create a trusted master data source. In fact, data quality can deliver 80% of the value of a full blown MDM stack, at a fraction of the cost.
Our enterprise data quality platform, from Trillium Software, is a highly scalable, cost effective solution that has been proven in the South African context. Out of the box business rules for South Africa, and 200 other countries, ensure that you get immediate value.
The Trillium Software System provides certified connectors to all major MDM solutions - from vendors as diverse as IBM, SAP, Oracle, Software AG and Informatica. Trillium gives you the power to quickly assess and improve the quality of your source data, and to painlessly maintain the quality of data in your new MDM hub.