With a never ending increase in the amount of data available both internally and externally, most organizations have recognized the importance of taking a robust approach to data governance. Far beyond just cataloging information assets, a robust data governance program also seeks to ensure the accuracy and consistency of critical data across the entire IT ecosystem.
Historically, in the absence of a master data management technologies, efforts to ensure data consistency across systems resulted in a draconian system-of-record approach, in which one system would be designated the master for a given data entity, and all other systems would be slaves, receiving new records and updates from the master system. Although effective at ensuring consistency, this approach is both highly disruptive to business functions, and is complicated when subscribing slave systems require different attribution or data granularity.
A robust MDM platform allows for real-world governance, where records are introduced and updated in multiple systems, but then rationalized and synchronized across all impacted systems – thereby ensuring data consistency while allowing business users to manage and update information within their various key systems.