Master Data Management - MDM
Master Data Management is a set of processes and tools which are required to properly define and manage the master data of an organization (which may include reference data). An MDM tool can be used for aggregation, quality assurance, coherence and distribution of information throughout the company. Also, it supports the management of areas such as customers, products, accounting, employees and suppliers.
These types of solutions allow users to:
- correlate data from customer service and marketing in order to prepare individualized offers for particular customers, thus presenting them services and products that they do not have, and which they may need;
- have a single, coherent system of master data, instead of a few or several smaller ones, which often results in customer dissatisfaction. This results in low operational efficiency, a lack of support in the decision-making process, low standards and incompatibility with the requirements of external regulators;
- improve the competitiveness of the company.