Effective use of master data in an enterprise has been an elusive goal for many organizations, as it is often a separate system and involves a lot of fundamental data management work = time + cost. The main use, statistically, for master data management (MDM) systems, is marketing, primarily mailing lists.
The dilemma that enterprises face is that MDM has, probably by far, the most impact of any data management tool, but it is also, probably by far, the most difficult to successfully implement and is often expensive. There are various MDM models available, but very few allow for a seamless and automatic integration of master data with almost all enterprise systems and applications, including operational, reporting, compliance, CRM, BPM, BI, Big Data and analytics. The key to identifying a customer/patient and using that to obtain a complete view of all customer/patient data, is MDM. Other people-related and other master data are also of tremendous value to an enterprise, for example, sales representatives, employees, doctors, products, organizations, diagnoses, treatments and medications.
There are many ways to work with and analyze data, but unless data management fundamentals of data governance, quality, standards and security, and master data, are addressed upfront, the business value of data may be reduced significantly. This is true for almost any application using data.
WhamTech® offers unique federated adapters that maintain their own clean indexes, seamlessly integrate master data indexes, process their own queries and, as an option, automatically substitute master data with data access and integration. For more information, please go to www.whamtech.com.
from Gavin Robertson, Chief Technology Officer at WhamTech.