Information Mastering Simplifies Your Business
MDM is arguably more of a business than a technological solution. Choosing the MDM strategy that meets your business needs can be a daunting task. Companies should understand their readiness to adopt MDM solutions prior to enforcing this fundamental business change and not allow IT to define the technical solutions to business problems without first performing an MDM assessment.
The phrase “One version of the truth” describes a desire to standardize on a single source or instance of information to reduce ambiguity, errors, and suspicion. Though this phrase is commonly applied to business metrics within a Business Intelligence context, when applied to business objects such as customers, products, or other reference information, the phrase describes Master Data Management (MDM).
There are several advantages to mastering business objects outside of existing operational systems. In a typical business, information defining business objects is
fragmented across multiple IT systems and managed by separate business units. MDM provides a dedicated and centralized interface for the business to control the information they ultimately own.
Empowering business users to manage their information removes the IT “middle-man” and makes Governance more effective. Using a centralized integration architecture, there may only need to be one
published format of a business object to manage and business process receives the same information whenever they need it.
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