MANAGE THE AVAILABILITY, USABILITY, INTEGRITY AND SECURITY OF YOUR DATA
Your business can benefit from Master Data Governance as it will ensure that your data is consistently reliable. In truth incorruptible data leads to better decisions, optimized operations, new products or services and improved profitability.
MASTER DATA GOVERNANCE DECONSTRUCTED
Master Data is core data that is essential to operations in a specific business or business units. The kind of information treated as master data varies from one industry to another. Differing from one company to another within the same industry.
Data Governance (DG) is the overall management of this data. Specifically how the availability, usability, integrity and security of this data is used within an enterprise. A reliable data governance program includes a governing body or council, a well defined set of procedures and a plan of execution.
MASTER DATA MANAGEMENT
Master Data Management (MDM) is very closely associated with data governance processes. In essence, this discipline creates a master reference to ensuring data is consistent across large organizations. MDM links an enterprise’s critical data to a common point of reference. When properly done, MDM improves data quality. Meanwhile streamlining data sharing across personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platforms and applications.
TO WHOM ARE THE BENEFITS APPLICABLE
The benefits of master data management increase as the number and diversity of organizational departments, worker roles and computing applications expand. For this reason, MDM is more likely to be of value to large or complex enterprises than to small or medium-sized businesses.
Metadata repositories, which hold data about data, are often used in establishing cross-group reference data in MDM programs. This is useful when product and customer data becomes a major concern.
The focus of Master Data Management has expanded as corporate computing started to include externally generated data. This data is often collected via the web or the cloud. Furthermore much of this data is unstructured and differs from the structured relational data that was originally the focus of MDM. Continued advances in Big Data and a general ‘flattening’ of traditional organization structures have led to flexible approaches to governance which support progressive action.
NBS Digital Technologies, has the knowledge and tools to assist your business with Master Data Governance in a seamless and practical manner.