Wikipedia describes Master Data Management as “a method used to define and manage the critical data of an organization to provide, with data integration, a single point of reference. The data that is mastered may include reference data- the set of permissible values, and the analytical data that supports decision making.“
If you own a business, you are trying to span the chasm between sales and marketing, or finance and operations, or enterprises across a value chain, there is only one thing that can truly bridge them all in an integrated way: master data.
While workflows and processes may be designed for optimal efficiency, the success of those implementations is predicated on the quality of the data that is within them. Simply put – dirty data clogs process pipes. No matter how good your MDM strategy is, resources are wasted if the data in your systems is inconsistent and doesn’t connect.
To help your business implement a better Master Data Management plan, we highly suggest you read this free whitepaper from Dun & Bradstreet. The title of the paper is Setting Your Data in Motion: Why Fluidity is the Goal to Master Data.
Another great resource for helping with Master Data Management is this free report from Gartner, Magic Quadrant for Master Data Management Solutions. In the report, 14 vendors of master data management solutions are reviewed and gartner mdm list one of our favorite vendors of Master Data Management Solutions, Profisee. Profisee’s unique Total Cost of Ownership platform is empowering its customers to innovate and transform their digital businesses faster and more affordable.
One thing Small Business Promote really likes about Profisee is that they offer Profisee Academy, a great deal for those businesses who are just getting started with their Master Data Management efforts. You can learn as you go, and that makes for a much less stressful time of setting up a great Master Data Management solution.