Best Practices in Master Data Management: Improving Intelligence through Data Governance
Joe Hilleary
September 23, 2022
Master data management (MDM) is the art of creating a trusted, comprehensive set of records for the core entities of a business by pulling information from across a range of source systems. Those entities might vary by company or industry, but can range from customers to employees, locations, and products. These records then provide a central source of truth that allows organizations to understand their businesses more clearly and make better decisions.
Succeeding with an MDM strategy takes careful planning from both a technical and procedural perspective. Companies must marshal a combination of business and IT resources and expertise to create master data that will actually deliver value. Organizations must align on strategic thinking, key definitions, and initial projects that will build into the larger initiative.
This report draws on interviews with MDM experts working in diverse industries to present a set of vertical-agnostic best practices for master data management.
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