Master Data Management
Create a single source of truth for critical business entities
What is Master Data Management?
Master Data Management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference. MDM ensures that your organization has a single, accurate, and consistent view of critical business entities across all systems and departments.
MDM Domain vs Data Domain
Data Domain
A broad categorization of all data within the organization, including transactional data, analytical data, reference data, and master data. For example, a "Finance" data domain might include invoices, payments, journal entries, budgets, and account master data.
MDM Domain
A focused subset that contains only the master data entities - the core business objects that are shared across multiple systems and processes. Not every data domain requires MDM implementation.
Key Insight: Implementing MDM does not mean implementing governance for your entire data domain. MDM focuses specifically on the critical shared entities that need to be consistent across the enterprise.
MDM vs Data Quality
While often confused, MDM and Data Quality are complementary but distinct concepts:
| Aspect | Master Data Management | Data Quality |
|---|---|---|
| Focus | Creating a single source of truth for master entities | Ensuring data accuracy, completeness, and consistency |
| Scope | Master data entities (Customer, Product, etc.) | All types of data including transactional data |
| Primary Goal | Consolidation and synchronization across systems | Validation, cleansing, and standardization |
| Output | Golden record for each master entity | Quality scores, cleansed data, error reports |
Data Quality is a prerequisite for successful MDM, but MDM goes beyond quality to address data ownership, stewardship, distribution, and lifecycle management of master entities.
MDM Implementation Dashboard
Total Sources
27
5 implemented
Total Records
6,776,759
6,692,578 implemented
Duplicated Records
310
Identified for merge
Curated Records
6,627,270
Golden records
| Domain | Total Source | Implemented | Total Records | Implemented Records | Duplicated | Curated | Progress |
|---|---|---|---|---|---|---|---|
| RB Customer | 15 | 5 | 6,681,996 | 6,681,996 | 310 | 6,627,270 | 33% |
| WB Customer | 5 | - | 82,093 | - | - | - | 0% |
| Product | 5 | - | 1,812 | - | - | - | 0% |
| Sales Force | 1 | - | 10,582 | 10,582 | - | - | 0% |
| Branches | 1 | - | 276 | - | - | - | 0% |
| Total | 27 | 5 | 6,776,759 | 6,692,578 | 310 | 6,627,270 | 19% |