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How to choose an MDM?Published on
MDM, Master Data Management or master data management is a method that allows a company to combine all critical data into a single file called a master file. The latter is a common reference point. Developed according to the rules of the art, master data management promotes data sharing across departments and staff.
At the same time, it facilitates IT processing in environments with multiple system architectures, applications and platforms.
The advantages of Master Data Management
The benefits of master data management increase with the number of companies, the diversity of IT applications and professional roles. This is why the MDM is a little more interested in large companies, complex companies instead of SMEs. If there is a merger of companies, the implementation of an MDM reduces the risk of confusion and boosts the efficiency of the new and large organization.
For the MDM to work properly, all departments and staff must be trained in data storage, formatting and how to access data.
It is also necessary to regularly update the coordinates of the master file. In most large companies, information is starting to pile up and is stored in databases.
This information, which is used and managed by various departments, consists of customer data, financial and contractual data.
A highly scalable MDM
In most cases, changes to baseline data are not reflected in all systems, hence the need for MDM. The use of MDM offers high scalability, rapid implementation, minimal to insignificant disruption, a 360° view of the customer, data that meets process requirements, coaching by experienced professionals, integration of different functional areas of the company, data management that facilitates processes and procedures.
Permanent transparency for the IT department, cost optimization through a model based on best practices, optimized data quality for successful customer data, implementation of the customer overview principle, change management within the project and finally consistent data that contains all relevant information.
The MDM: for a 360° vision of the customer
With a margin of tolerance, intelligent cross-checking algorithms ensure that all existing data is collected and grouped in an MDM system. To constitute the 360° vision of the customer, it is a prerequisite. This global view of customers is obtained through identity resolution and postal address control.
This tool keeps an eye on the quality of customer reference data. Without MDM, the company could face many risks, including repetition of master data between and within systems, complex metadata administration, redundancy leading to incorrect mapping, irregular and manual data quality control.
A level of quality different from that of the data sources, an impossibility to create Golden Records for a 360° view of the customer, a quality of the database that does not meet the requirements of business processes and finally many different data structures and heterogeneous data sources. For it to be effective, the choice of the MDM must therefore be made carefully.
It is necessary to know the needs of the company as well as the needs of the users. Before going into the technical details, it is necessary to do a thorough study of the organization and customers by asking the right questions: what are the team’s needs? What are the management’s requirements? Once this is done, we go directly to the park. Is it made up of tablets, smartphones or laptops?
While there are many mobile device management solutions available, they do not all offer the same management features across brands.
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