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Master Data Management

Problems concerning data quality often lead to discussions about master data management (MDM). When the complexity of the business increases, and the data volumes explode, the business turns toward MDM as an intelligent way of consolidating and managing data. MDM provides a unified view of data, when data is integrated from different data sources. In organizations that have been growing for a long time, the different business areas will typically have developed different master data concerning customers, transactions, and products. The same applies to merging companies. The need for identical definitions will arise across business areas, national borders, and/or merging companies. For instance, the definition can include what precisely a customer is and which customer data is registered. Using MDM, the business can consolidate these sources to a master reference file, which then feeds information back to the applications. Accuracy and consistency are thus secured across the entire organization.

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