In fact, it’s not unusual for a company to be acquired primarily for access to its Customer Master data. This master data is often one of the key assets of a company. Or if you’re ready to dive in, continue your journey below.įor example: A typical ERP system will have at the very least Customer Master, Item Master and Account Master data lists.
To meet this challenges, businesses turn to master data management (MDM).ĭownload your exclusive copy of the guide to keep in your back pocket. Getting answers to basic questions such as “who are our most profitable customers?”, “what product(s) have the best margins?” or in some cases, “how many employees do we have”? become tough to answer – or at least with any degree of accuracy.īasically, the need for accurate, timely information is acute and as sources of data increase, managing it consistently and keeping data definitions up to date so all parts of a business use the same information is a never ending challenge. When this occurs, answering even the most basic, but critical questions about any type of performance metric or KPI for a business accurately becomes a pain. Many businesses today, especially global enterprises have hundreds of separate applications and systems (ie ERP, CRM) where data that crosses organizational departments or divisions can easily become fragmented, duplicated and most commonly out of date.
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