Duplicate master data and missed opportunities for revenue, margin, and efficiency have been linked in case study after case study.
Business environments change rapidly from mergers and acquisitions, creating numerous database applications when coupled with a proliferation of specialized line-of-business systems. The result is a commonplace struggle for many large businesses today: organizations face increasing inefficiencies and missed opportunities from fragmented data living in multiple applications. In a traditional architecture environment, data is not integrated so that a customer is uniquely identified and consistently described across all applications, or that a product is tracked in uniform throughout the company. An organization that lacks such data cohesion cannot possibly recognize the total value of their business.
The Data Duplication Problem
Most enterprises are already painfully aware of the costs, errors and missed opportunities associated with duplicate data. Records for customers, suppliers, products, and more are duplicated in multiple systems due to a proliferation of operational systems and mergers and acquisitions. Often no mechanism exists to uniquely identify each entity across systems and no proactive steps are taken to prevent the creation of duplicate records.
Below are 8 common business process problems that result from
data duplication challenges:
Having identified their data duplication problem, many organizations embark on solutions with varying success. Most solutions are sold with record matching technologies and processes, but the “data quality solutions” category has ballooned to include a vast range of products. As a result, many matching solutions are fit to clean only a narrow range of data types. But, not all matching problems are equal.
As a result, many vendors now market matching solutions to solve
the data duplication problem.
To learn about how data duplication issues affect enterprises in your industry, visit the MDM Education page.
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