What is MDM?
Master data management (MDM) refers to the practice of aggregating all an organization’s critical business data or domain (e.g. customer, product, supplier) into one master reference source. As a single point of reference, a properly compiled and governed MDM reference functions as the most consistent and uniform data source.
How does a Master Data Management platform work?
The MDM platform supports an organization's data management strategy by consolidating the domain data into unique or linked instances (e.g. a “Golden” Record) and then using that unique record to aggregate associated data, purge or resolve duplicates, standardize the domain data across other applications, and create rules to continuously resolve, merge, or disassociate the records. Together, these functions perform as an authoritative function, creating the ongoing authoritative master data reference source.
An MDM solution includes a broad range of functionalities such as master data model, an extensive integration framework, coupled with data stewardship and quality capabilities to audit, rollback, version, and resolve potential duplicates or changes. Together, these functions can reduce costly inefficiencies that arise in businesses that use multiple competing master data source.
See how Precisely's multi-domain MDM can help your businessLEARN MORE
Who benefits from Master Data Management?
Organizations that benefit the most from MDM include those who need consistency and insight into their core domains (whether customer, product, or other), have complex business architectures, or include multiple, conflicting business segments or partners.
A multi-domain MDM can also assist organizations by adapting to different MDM use cases including Product Information Management (PIM), Digital Asset Management (DAM), Product Data Management (PDM), Customer Master Data Management (CMDM), and more. Multi-domain MDM accelerates cross-domain intelligence from a single interface
How Precisely can help with MDM
Precisely delivers multi-domain master data management solution through Precisely EnterWorks.
- Enhance your organization's master data management strategy with EnterWorks, an enterprise-grade MDM solution that enables you to compete and thrive in today’s fast-paced environment.
- Aggregate and manage product information content across all business applications and digital channels with EnterWorks Product Information Management design.