What is MDM?
How much master data does your business collect and produce? Is there one central point where all of that information is available to every channel that needs it, or is it spread across various systems, software and databases across the business?
If it’s the latter, it’s much more difficult to manage and use that data – and it’s a problem that’s holding up data innovations and digitisation for businesses in every sector.
Master data management solutions help businesses remove data silos and create a single version of the truth with their data. The result is data – be it customer, product, asset or other records – that contains the same, accurate information wherever it is accessed.
But MDM technology alone isn’t enough to transform disparate data into a reliable, centralised information resource. For truly effective master data management, you need a comprehensive MDM strategy that doesn’t just look at how your data is processed, but its role within your business.
The building blocks of MDM
A successful MDM solution should align with Gartner’s seven building blocks of successful master data management.
Our MDM services don’t just focus on technical delivery, but on the people and processes that make it work. Every Comma MDM project incorporates:
- Vision – what you want to achieve with your data
- Strategy – how you are going to get there
- Governance – the way that people, processes and systems interact with your data
- Organisation – how your data strategy will be managed, supported and maintained at an organisational level
- Process – the business processes
- Performance metrics –– measuring your MDM initiative’s success
- Technology – choosing the software and systems that are right for your business needs
The eighth building block: Data
MDM is nothing without good quality, relevant data to fuel it. At Comma, we believe that data is the eighth building block to MDM success – and our data services give clients full confidence in the data at their disposal. See how our data services can support your MDM from our helpful guide.