Consolidation and Harmonization procedures are very different from CMDM (central master data management), however often times CMDM is not very useful without considering the other two as well.
Consolidation essentially means creating identity around your master data across your landscape. More specifically you want to identify duplicate records and merge them into one record. Harmonization is the process of pushing the new cleansed data back out to your partner systems.
Central master data management is the process of creating and managing enterprise level attributes in one place. One common mistake that people make is that central master data management means having one place to create your records and containing ALL data. This is not correct, MDM focuses on enterprise level attributes. In other words, which attributes are KPI's, shared across multiple processes in scope, shared across multiple systems, important for reporting, need ultimate quality, etc. Once you have determined your data model then you begin developing the workflow (if needed) around the creation of master data. This way you can easily keep your data clean and free of duplicates moving forward following a consolidation and harmonization process.
Bluesky
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