What is Master Data Management (MDM)?
MDM contains a set of processes, controls and tools that provide the consistent definition and management of the master data. This master data is information that is key to the operation of the business and therefore will include data about people (customers, employees and vendors), places (branches, stores and cost centres) and things (products, contracts, accounts and assets).
Master data may also define the relationships between these objects, such as hierarchies or rollups and these provide the context of how data is derived or viewed within the organisation.
The objective of MDM is to provide processes for collecting, aggregating, matching, consolidating, quality assuring, persisting and distributing data throughout an organisation to ensure consistency and control in the ongoing maintenance and application use of this information.
Within a typical organisation, there can be multiple applications, each with its own database. Here, a customer name may be held multiple times and potentially with multiple variances of the same customer and address. Through the implementation of MDM, a single source of truth can be obtained, a ‘golden record’, which forms part of the MDM repository.
Codec -dss's solution will provide accurate, complete and valid data. The solution will provide large volume data matching, survivorship for mastering golden records and harmonising the source, address services for global address validation, completion and geo-coding.
Codec-dss’s experienced team of consultants are focused on ensuring that users are experienced and self-sufficient in the use of the MDM system in the shortest time period possible.
High quality data is one of the most valuable corporate assets of the organisation and our MDM solution can provide this.
For further information on our Master Data Management Solutions, please call 01 603 4300 or submit an enquiry through our Online Enquiry Form or through our Request a Call Back Form.