master data management

[Former Member]

hi,

why do we require masterdata management?why is it necessary to keep all data masterdata ?

[Former Member]

Hi Santosh,

All mojer organization have many IT systems and all of them have master data.

The problem starts there as all have their own master data. Thus for organization it have diff master data for all systems which is not common and thus creates problem.

So benefits of keeping Master data in 1 place is

Conformance/Auditing

Single view of customer

Global data synchronization efforts

Accurate reporting

Consolidation after mergers and acquisitions

Reduced effort to consolidate information

Reduced cleansing/mapping of information

Increased efficiency

Reduced costs overall

Hope this helps,

+ An