Brexit

Why your
master data
management
needs data
governance
By Pat Egan, Chief Data
Strategist, Data360
In recent years there has been a growing awareness
among organizations around their data and the
role it plays in the success or failure of their most
critical business functions. This shift in mindset
along with the evolution of cloud technologies
has formed the basis of change in technology
budgets from a concentration on hardware and
infrastructure purchases and more towards
leveraging technology and services that make
the best use of corporate data assets. In line
with this has been the rise in popularity of Master
Data Management systems (MDM). Used in the
management of critical shared data domains
such as security master, product master, or client
master, MDM when properly implemented can form
the cornerstone of an organization’s Enterprise Data
Management (EDM) strategy.
MDM – Not the Silver Bullet
The goal of MDM is to identify, validate and resolve
data issues as close to source as possible,
while creating a “Gold Copy” master dataset for
downstream systems and services to consume. MDM
provides many benefits, and when implemented
correctly can ensure consistency, completeness and
accuracy of core shared data sets, but MDM is not
the silver bullet of data quality for the enterprise.
At its core, MDM manages just a single area of the
data universe namely, business entities. If we look
a little deeper into an organization’s data use, we
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