Master Data Management (MDM)
What is Master Data?
Master data is the high-value, core information used to support critical business processes across the enterprise
Why is it Important?
Master Data is information about customers, suppliers, partners, products, materials, employees, accounts and more
Master Data is at the heart of every business transaction, application and decision
What Is Master Data Management?
A discipline that provides a consistent understanding of master data entities, and their relationships
A set of technologies for consistent use of master and author data across the organization
A set of practices and processes designed to accommodate, control and manage change
The creation of a single, accurate and unified view of corporate data, integrating information from various data sources into one master record. This master data is then used to feed information back to the applications, creating a consistent view of information across the enterprise
Together with our high end partners, Kwezi Software Solutions is able to draw on vast experience and the best of technologies in implementing successful Master Data Management initiatives for our clients in efforts to fulfil the enterprise's business needs :1. Revenue
- Identify cross-sell, up-sell opportunities
- Customise product offerings and bundles
- Introduce new products quickly
- Identify high value customers
- Improve customer retention
2. Agility/Strategic Initiative
- Consolidate data silos/Integrate new systems quickly
- Meet demands of new business channels
- Grow with the business
- Identify key relationships and hierarchies
- Automate manual business processes
- Reduce data errors
- Eliminate excess mailings
- Identify risk(credit)
- Support system consolidation initiatives
- Reduce risk
- Control access to data
- Adhere to government and corporate regulations
- Manage customer privacy preferences
Why embark on an MDM initiative?
Master data management (MDM) has become a crucial discipline, with MDM solutions positioned at the centre of many organisations' IT architectures.
There are key trends which shape this market's growth and evolution, and each trend has its own set of complexities.
1. Managing multiple MDM domains
2. MDM and Big Data
3. MDM in the cloud
4. Real-time operation
5. Collaboration in MDM
6. Data Governance