Master Data Management
Master Data Management (MDM) plays a critical role in establishing a reliable and trusted platform to share essential data across an organisation. According to Gartner, master data is a "consistent and uniform set of identifiers and extended attributes that describe the core entities" of an enterprise. Successful MDM can help an organisation improve operational efficiency, drive analytical insights and enhance data governance. Appropriate management of master data becomes increasingly important when projects and programs within an organisation grow in complexity. Improper MDM can cause project managers to take inappropriate decisions based on poor data quality.
This article will focus on providing an introduction to master data and the underlying principles behind data management. The article will then proceed to describe the Seven Building Blocks for successful MDM while discussing the importance of SOPs in MDM.
Master Data In a Nutshell
Data Management In a Nutshell
The Seven Building Blocks Framework for MDM
Standard Operating Procedures for MDM
MDM: Master Data Management SOPs: Standard Operating Procedures