Master Data Management

Article Index

For example, the Protection of Personal Information Act requires that all personal information help about a client should be of good quality and that changes made in one system should be reflected in all others. Similarly, corporate governance legislation and standards such as King III and  Sarbonnes Oxley require an accurate reflection of assets - very difficult to do with fragmented and duplicated asset registers and inventories.

For many organisations data is stored in a myriad of poorly connected systems with many variations and discrepencies. Master Data Management is the technology, processes and tools required to create and maintain consistent list of master data. Master Data is typically that non-transactional data that is reused by multiple systems - but this can depend on your need.

Vendors have traditionally split master data management into two main categories - Customer Data Management and Product Data Management - to reflect limitations in their MDM application design. More modern approaches enable business improvement through the delivery of a single solution for all master data 9multidomain master data management)

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