Courtesy of Experian QAS
Master data
management (MDM) has become a requirement for all
organisations looking to improve decision making, efficiency, and
customer knowledge, according to a recent feature in Information
Management.
MDM allows companies to view their
has been the root cause of several incidents and can be fatal to
the success of MDM programs.
The research company predict that by 2016, 20 per cent of CIOs
in regulated industries will lose their jobs for failing to
implement the discipline of information governance
successfully.data in its entirety. Whether this be internal data
that can be engineered towards the efficiency of the company, or
achieving a
single
customer view, it has become an almost integral part of best
practice in organisations.
The purpose of MDM is varied, but it generally refers to the
management of customer contacts or products. Most companies want to
implement MDM as something that will improve everything in the
organization, from customer experience to marketing efforts and
more.
According to Gartner, MDM is critical to achieving effective
information governance. Failure to manage information
accurately
The benefits and pitfalls of MDM are simply too big to
ignore. Contemporary markets are increasingly consumer-centric, and
MDM is the tool that can gear your business to this
trend.