The building blocks of Master Data Management

Vision – Define what you want to achieve with your data
Strategy – Outline how you are going to get there
Governance – Establish how people, processes, and systems interact with your data
Organisation – Clarify the roles of individuals and groups in authoring, managing, consuming, and maintaining master data
Process – the business processes related to data management
Performance metrics – Determine how you will measure the success of your MDM efforts
Technology – Select the tools that will support and enable your MDM objectives

Why do you need Master Data Management?

Effective MDM improves the consistency, quality, and availability of data about your business-critical entities such as product data, asset data, customer data, employee data and location data. But why is that important?
Creating a Single Version of the Truth
Creating and maintaining a single trusted source of master data across your business ensures that data is not siloed, but instead represents a single, accurate, and up-to-date record that can be accessed and shared across the business.
Determining the ownership of the data
Where data is being shared by a number of parties across your business, having a rigorous and documented ownership and stewardship process is essential. Assigning responsibility ensures that your business can trust the data being used to make critical decisions.
Focusing on Continuing High-Quality Data
With MDM, you can ensure you have high quality data - all aspects of the process will require ongoing monitoring. Specific data quality dimensions are critical, and common data governance rules must be agreed to ensure that the MDM continues to support business objectives.

Benefits of MDM

Master data management (MDM) has become increasingly critical as data volumes grow and demand rises. With a comprehensive MDM strategy and the right MDM solution, your business can achieve new heights. By centralizing master data, you can improve efficiency, enhance insight and decision-making, drive competitive advantage, and reduce risk while ensuring regulatory compliance.

InfaWorx specializes in implementing robust MDM strategies and solutions tailored to your business needs. Our approach focuses on improving data quality, streamlining processes, and empowering you to make informed decisions based on reliable master data. With our expertise, you can gain a competitive edge, minimize risks, and navigate regulatory requirements with confidence.