Have clean information, reliable and affordable, able to guarantee its actuality, accessibility and accuracy, you need good master data management. In the current digital context, marked by the data revolution, there are different network management protocols an imperative in the moment of increase productivity of business users and take the better decisions, among other competitive advantages.
Against other types of data, as unstructured data, hierarchical, transactional or metadata, master data o Master data management (MDM) are characterized by being business critical data. It is not surprising that they constitute one of the main assets of the company.
What are they and why are they critically relevant??
Since this is data that is shared between computer systems while still providing a single view of the truth, the multiplicity of applications needs their creation and administration for their maintenance. Hence his strategic relevance in the moment of believe them, manage them and take advantage of their full potential.
In practice, MDMs can refer to different items, areas or business units, as clients, accounts, products, workers, vendors, contracts or offices, as an example. In summary, we can affirm that they admit different categories and subcategories, that regularly respond to areas associated with the conceptual, people, things and places.
Logically, as many and as varied as necessary, even when determining which should be considered as such requires the application of a series of criteria aimed at determining the relevance of a certain topic or entity for the organization.
Among other criteria, We will analyze its substantivity, value to the company, reuse or, as an example, variation in time to finally make the relevant decision to incorporate it or not in a master data solution. Only those valuable and substantive data, truly business critical, will require Adequate administration to guarantee its correction. and consistency.
Management, key to a cohesive vision
The creation and maintenance of master data is A challenge for the organization. Its capital relevance for the correct functioning of the company implies a no less relevance of its administration.. To that end, effective master data management is a priority if we aspire to be of high quality.
Only in this way will they offer us a coherent view of the data of the business units that are essential for the organization.. From these shared data, whose attributes will be precision, quality, reliability and possibility, information can be so correct, agile and useful as needed by business users.
Not in vain, while creating them, that good administration will be the one that guarantees that those requirements that favor the achievement of clear comparative advantages. For this, must be carried out from the beginning and continuously, without taking into account that the implementation of a project is a long and complex procedure and that its success requires the participation of business users.
In general, it is recommended to carry out a complete project progressively, notwithstanding that benefits can be obtained from the beginning. To that end, scalability and process automation are important advantages offered by the most advanced solutions.
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