What is master data management?

Master Data Management is a process that involves the management of critical data assets to ensure uniformity, accuracy, stewardship, semantic consistency, and accountability across an organization. MDM aims to create a “single source of truth” for important data, such as customer information, product data, and financial data. This definition shifts away from the outdated notion that MDM is a technology, to reflect the reality that master data management is a business capability.

Master data are the objects in a business that provide context for transactions. For example, for a procurement transaction a supplier (person) may provide a service (thing) under the terms of a contract (concept). For a purchase, a customer (person) may buy a product (thing) from a store (place).

Why is data integrity the foundation of master data management?

Data integrity is crucial to the success of MDM because it ensures that the data being managed is of high quality and trustworthy across all systems and departments. If data is inaccurate, inconsistent, or unreliable, it can lead to errors in decision-making, wasted time and resources, and ultimately damage the reputation of the organization.

How does Master Data Management work?

MDM involves a series of processes, enabled by technology, that work together to create a single source of truth for critical data. The process typically involves identifying key data assets, cleansing and standardizing data, and creating a master record that can be used across the organization.

How can we align business and data management?

The alignment of business and data management is critical for an organisation's success. To achieve this alignment, four pillars need to be in place: data strategy, data culture, data monetisation, and data literacy. Data Strategy: A clear data strategy is essential for aligning business and data management. It should outline how data will be collected, stored, managed, and analysed to support business goals. A well-defined data strategy can help identify data gaps, define data standards, and establish a roadmap for data management initiatives. Data Culture: Data culture refers to an organisation's values, beliefs, and behaviours around data. It is essential to foster a data-driven culture that values data as a strategic asset and encourages data-driven decision-making. A data culture can help to promote collaboration, transparency, and accountability around data management. Data Monetisation: Data monetisation is the process of leveraging data to create business value. It involves identifying opportunities to monetise data assets, such as through new revenue streams or cost savings. Data monetisation requires a clear understanding of data value and the ability to extract insights from data to inform business decisions. Data Literacy: Data literacy refers to the ability of individuals to read, understand, and effectively use data. It is essential to build data literacy across an organisation to ensure that employees have the skills and knowledge to leverage data for business purposes. This includes data analysis, visualisation, and interpretation.

Revolutionise access governance with Pathlock

data access managmeent Information, they say, is power. But with great power comes immense responsibility, especially when it comes to application access governance. How do we ensure the right people have access to the right data, at the right time, while safeguarding sensitive information from unauthorized eyes?

This is where Pathlock steps in, revolutionizing data access management and data security with unparalleled granularity, real-time control, and proactive risk mitigation across your enterprise applications.

Access Management: Beyond Traditional Gates

Traditional application access governance systems rely on static rules and permissions, often leaving blind spots and vulnerabilities. Pathlock transcends these limitations by offering a dynamic, data-centric approach. Here's how it elevates access management:

1. Granular Control, Down to the Field Level:

Pathlock goes beyond user-application permissions, offering field-level access control. Imagine restricting access to specific data fields within a record, like bank account numbers in customer profiles. This precision minimizes exposure and ensures that only authorized users see what they need to see.

2. Continuous Monitoring, in Real-Time:

Unlike static systems, Pathlock continuously monitors user activity, capturing every access event as it happens. This 360-degree visibility allows for immediate detection of anomalies, like unauthorized access attempts or suspicious data modifications.

3. Contextual Insights, Beyond Just "Who" and "What":

Pathlock doesn't stop at recording who accessed what. It captures the context surrounding each access event, including timestamps, accessed data fields, and the reason for access. This rich context paints a vivid picture of user behaviour and empowers informed decision-making.

4. Dynamic Risk Assessment, Proactive Mitigation:

Pathlock isn't just a passive observer; it's a proactive risk assessor. By analyzing user activity against established baselines and pre-defined policies, it identifies potential access risks before they materialize. This allows for immediate intervention and proactive mitigation to prevent data breaches and unauthorized access.

5. Streamlined Workflows, Reduced Friction:

Pathlock doesn't just secure data; it streamlines the data access management process. Automated workflows for user provisioning, access requests (including elevated access management), and privilege reviews minimize friction and empower users to be more productive.

Access Governance: Beyond the Technical Edge

The benefits of Pathlock's data access management extend far beyond technical prowess. Organizations can expect:

1. Enhanced Data Governance: Pathlock facilitates compliance with data privacy regulations like PoPIA, GDPR and CCPA by ensuring least privilege access, comprehensive audit trails, and automated policy enforcement.

2. Minimized Access Risks: Proactive risk detection and real-time monitoring significantly reduce the likelihood of data breaches and unauthorized access, safeguarding sensitive information and building trust with customers and stakeholders.

3. Improved User Productivity: Efficient workflows and streamlined access requests empower users to focus on their tasks, boosting overall productivity and organizational efficiency.

4. Increased Transparency and Accountability: With Pathlock's comprehensive audit trails and granular access control, organizations gain deep insights into user activity and maintain robust accountability mechanisms.

5. Central Control of Most Enterprise Applications: With off-the-shelf connectors to many enterprise and cloud applications, including SAP, Oracle, Coupa, Workday and Salesforce, Pathlock ensures consistent application of policies, and reduces the administration and audit burden.

Revolutionising Enterprise Access Governance

In conclusion, Pathlock is not just a data access management tool; it's a paradigm shift in how organizations interact with and protect their most valuable asset – their data.

By offering unparalleled control, real-time visibility, and proactive risk mitigation, Pathlock empowers organizations to unlock the full potential of their data while ensuring its security and integrity. In today's data-driven world, embracing solutions like Pathlock is not just an option; it's a necessity for every organization that values data security and responsible data governance.