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Master Data Management: Are You the Master of Your Data?

Every organization has a variety of data. Whether it is customer data, employee data, product and vendor data, or a myriad of other options, it is likely disconnected and therefore not as useful as it could be. Does this sound familiar?

Master Data Management: Are You the Master of Your Data?

Every organization has a variety of data. Whether it is customer data, employee data, product and vendor data, or a myriad of other options, it is likely disconnected and therefore not as useful as it could be. Does this sound familiar?

Data that crosses departments can be fragmented, duplicated and out of date. This disjointed filing system can cause headaches when trying to accurately answer questions about metrics, profit,
or product margins.

Generally, data falls into one of the following categories:

1. Unstructured – data from emails, corporate portals, marketing material
2. Transactional – data from sales, invoices, and other transactions
3. Metadata – data about other data
4. Hierarchal – relationships between data such as, org structure
5. Reference – used to categorize other data such as, time zones
6. Master – categories or data such as, customers, products, location and other

Of course, data regarding the same customer, for example, can be found in more than one category and in more than one form. For instance, a customer email may include a casual form of their name such as Bill, but a contract signature for the same customer may show the formal version William. How will these 2 simple name variations get connected for re- targeting, reminders, or many other purposes?

The Answer: MDM (Master Data Management). MDM ensures that your master data is coordinated and accurate across your business. Although the process may sound daunting, the payoff has tremendous potential. Digital Segment has what you need to implement an MDM system for your business and get your data into a manageable and useful state…today!

What data points do you collect from each of the categories listed above? What data do you rely on to do business? What categories will be useful to your organization?

Give us a call today. We can help you become the master of your data.

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