Have you ever come across situations where customer data may not be identical in order entry, shipping and customer service systems due to variations in names, addresses or other attributes? These issues can also apply to product data and other types of information. It all boils down to a “single source of truth” or “single version of truth.” It’s all about master data management (MDM) in organizations.
MDM systems are a must in organizations if you are looking to improve business results or eliminate operating pains. In today’s world, it’s more important than ever to understand the ins-and-outs of master data management so your company can reap the benefits of good data management and grow sales, lower costs, reduce risks, and meet compliance needs.
In addition to having a single-source/version of truth, defining ownership of data or data governance is just as critical. Both complement each other and are needed to effectively manage and use data. High-quality data and clarity of data ownership helps contribute to operational efficiencies that impact your bottom line.
Hear from our very own Harry Singh and Vik Gundoju, managing partners and co-founders of StrikeTru as they provide a practitioner’s insights on these questions and more.
What is MDM and Data Governance?
Why do companies implement MDM systems?
What are key features of a MDM System?
What are some best practices in implementing MDM solutions?
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