Master Data Management (MDM): MDM involves the processes and technologies for ensuring the uniformity, accuracy, stewardship, semantic consistency, and accountability of an organization’s official shared master data assets.
Data Quality Problems: These include issues such as duplicates, incomplete records, inaccurate data, and data inconsistencies.
Explanation:
Bringing order to your master data, through processes like MDM, aims to resolve data quality issues by standardizing, cleaning, and governing data across the organization.
Effective MDM practices can address and mitigate a significant proportion of data quality problems, as much as 60-80%, because master data is foundational and pervasive across various systems and business processes.
References:
DAMA-DMBOK: Data Management Body of Knowledge, 2nd Edition, Chapter 11: Master and Reference Data Management.
Gartner Research, "The Impact of Master Data Management on Data Quality."
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit