Posted on January 29, 2010
Master Data Management Defined: MDM is a set of disciplines, technologies, and solutions used to create and maintain consistent, complete, contextual and accurate business data for all stakeholders (users, and applications) across and beyond the enterprise.
Resource: Dow’s Master Data Management Business Processes | PDF
Source: Jim Whyte, Dow Chemical
MDM Governance Resource Guide Section: Master Data Management – What is it?
Posted on January 29, 2010
“An MDM layer enables companies to realize internal efficiencies by reducing the cost and complexity of processes that use master data (through fewer code clashes, less data duplication, better control over business processes, and so on). It reduces manual translation and analysis to improve repeatability and speed to insight. An MDM layer improves the ability to share, consolidate, and analyze business information quickly, both globally and regionally. And it makes it possible to rapidly assemble new, composite applications (software that combines the elements of a business activity in a coordinated application and user interface) out of accurate master information and reusable business processes. Other MDM benefits include increased revenue (for example, from providing more accurate and comprehensive information to the right customers at point of sale) and regulatory compliance.”
Resource: Master Data Management
Source: Daniel Druker and Robert Rich, IBM Database Magazine
MDM Governance Resource Guide Section: Master Data Management Benefits
Posted on January 29, 2010
Four signs of bad data:
1) Discrepancies: duplicates and obsoletes have crept in swelling the inventory size above the expected level.
2) Items are difficult to find: trouble locating the right item. Even suppliers can’t locate them with the given information.
3) More non-contract spend: they can’t be located here, so go get them at expensive off-contract price.
4) Spend is out of control: Many invoices from suppliers do not match to POs.
Source: Krishna Shastry, Grihasoft
MDM Governance Resource Guide Section: Master Data Management Best Practices
