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[Sticky] Master Data Management  

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Nick Inglis
(@nickinglis)
President, Information Coalition Admin
Joined:8 months  ago
Posts: 79
12/10/2017 12:23 pm  

Proposed Definition:

Master Data Management is the discipline of developing consistent nomenclature across the enterprise with a specific focus on standardization. Master Data Management (or MDM) is often a misnomer as its' scope isn't solely on data but across all organizational information. MDM usually leverages thesauri and language normalization using a single "master file" that provides a reference for all organizational information.


Reference Alternative Definition 1 (Gartner)

Master data management (MDM) is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the enterprise’s official shared master data assets. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies and chart of accounts.

([Gartner]( http://www.gartner.com/it-glossary/master-data-management-mdm/))


Reference Additional Definition 2:

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. When properly done, MDM streamlines data sharing among personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platform and applications.

([TechTarget]( http://searchdatamanagement.techtarget.com/definition/master-data-management))


Key Points:

  1. MDM is more than a technology solution, it requires other components such as Data Governance.
  2. MDM creates a single, shared reference point for the business.
  3. MDM requires cross-organizational commitment and change management through the development of a data governance model.
  4. MDM synchronizes and harmonizes multiple data items in order to create a "single version of truth" for business objects.
  5. Continuous data improvement and a well-managed data quality strategy is essential to MDM.
  6. Dimensions of data quality such as completeness, meaning, accuracy, and timeliness are critical to creating an effective MDM.
  7. MDM focuses on Master or Reference Data.
Edited: 7 months  ago

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Nick Inglis
(@nickinglis)
President, Information Coalition Admin
Joined:8 months  ago
Posts: 79
28/11/2017 1:44 pm  

Master Data Management is the discipline of developing consistent nomenclature across the enterprise with a specific focus on standardization. Master Data Management (or MDM) is often a misnomer as its' scope isn't solely on data but across all organizational information. MDM usually leverages thesauri and language normalization using a single "master file" that provides a reference for all organizational information.


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