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Introduction to MDM

Did you know that in every IT system there is a lot of data
with values which do not depend on the execution of
transactions supporting the company’s activity? Nonetheless,
that data is no less strategic as it is used as reference and
master data during the execution of the transactions. If this
data is flawed, then the value chain is put in jeopardy,
sometimes dramatically. Examples include the description of
products and services, the organizational structures of a
company, the definition of a financial flow classification
required by business regulations, the customers’ descriptions
and other third parties, etc.

Do you know how this reference and master data is
managed from an IT point of view? In most companies, the
data is governed with heterogenous tools and processes,
which lead to serious quality and traceability problems:
mistakes in product price, in configuration of a service, lack
of traceability surrounding the classification of financial
flow, inaccurate alignment of commercial transactions with
business regulations (that nonetheless need to be respected),
inability to access a reliable data history, tools which are too
technical and heterogenous for reference and master data
entry and consultation.