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Opposites Attract: Differences with Big Data and Master Data

There’s a revolution underway in data science to effectively manage and derive value from the growing amount of data being generated in our world. We’ve been driving cars, using phones, and manufacturing product for decades. But now we have mobile phones pinging cell towers everywhere we go, sensors in industrial systems recording information every second, and our cars reporting data back to manufacturers via telematics.

What is Master Data Management?

Master Data Management is two part data management strategy used by organizations of every size in every industry. It includes specific business processes combined with the technical infrastructure required to provide and maintain consistent and accurate sets of master data.Sometimes, we vendors in the data management world can make the easy complicated.But master data is important to everyone NO MATTER the size of your organization.

MDM Roles and Responsibilities

When it comes to any successful master data management project, people matter. Given that MDM is a relatively new function, most organizations aren’t sure what resources and roles need to be created or designated to make the solution successful.

Why Master Data Management Is Not Just an IT Thing

Master Data Management (MDM) is a two part data management strategy applicable to organizations of every size in every industry. MDM includes the information definitions, business rules, and processes to provide and maintain consistent and accurate sets of master data, enabled by data management technology.Does IT facilitate the business in delivering an MDM solution? Yes.Can IT successfully deliver an MDM solution without a business need/sponsor? No.

Master Data 101 – What Is Reference Data?

The next concept is reference data which is really just master data. But it’s a little different from some of your big complex core domains. So, reference data’s typically just your simple list that you use to describe things, and most of your operational applications will already have reference data embedded in them, the simple example, the list of languages I just used. Your CRM and ERP applications both might have their own list of languages that obviously have overlapped.

MDM 101 – What Is a Domain

Domains are really kind of the big level blocks that we use to define master data. We have some example categories of domains. So, one common domain a lot of people look to manage within the MDM is customer domain. Customers could be individuals, they could be individual people, consumers if you will. They can also be businesses as well that use. So, depending on whether you’re a B2B or B2C organization, but then there’s other flavors of customer or unity type domains that are out there.

MDM 101 – What Is Master Data Management

Master data management is the combination of people, process, and technology for centralizing and maintaining your master data. The key here is, it’s not just the technology.

MDM 101 – What Is Master Data?

Master data is the core, non-transactional data used across your enterprise, including customers, products, supplier locations and chart of accounts.

WAYS TO GET STARTED

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