Master Data Management is built on top of Microsoft SQL 2012 Master Data Services (MDS) to simplify full, and selective, data synchronization and enables central conflict management to build trust in your data.
What is Master Data Management (MDM)?
Master Data management (MDM) is a colllection of technology, tools and processes required to create and maintain consistent and accurate lists of master data. Usually fundamental changes to business process is also required to maintain clean master data. For continuity purposes, master data management should also include tools and processes to keep the master data clean and consistent as it is updated and expanded.
Most software systems have lists of data that are shared and used by several of the applications that make up the system. A typical ERP will have Customer Master, Item Master and Account Master amongst others and are usually the key asset of a company.
Master Data as The Main Source of Information
Usually the master data will be used by multiple applications and thus an error can cause errors in other departments as well. Example if the customer master has an error in terms of address, thus all collaterals and bills can actually be sent to the wrong address.
Unified Master Data
Many companies grow through mergers and acquisitions and thus there will be a need to merge and reconcile all these information to ensure a unified approach to customers and suppliers. Merging master data can be a very challenging process when it involves different databases and applications, however there is a lot of benefits of doing so.