"MANAGEMENT OF MASTER DATA ACROSS THE ORGANIZATION IS A KEY PART OF THE OVERALL DATA LIFE CYCLE MANAGEMENT"
Master data is usually used by several applications. If these systems also change the data, it is necessary to make sure that each of the systems works with the same (so-called "master") data.
Opportunities for change:
- Does each agenda information system in your company manage its own master data and code lists?
- Are these code lists part of "common" data in all information systems and is the data not shared?
The resulting effects are a low level of reliability of operational data and poor reporting quality.
- The aim of master data management is to ensure the process of unified management of a “single point of truth” of master data and code lists
- Operating systems over such managed master data thus use up-to-date, unambiguous, and reliable data
- The master data management process is based on data quality and integration processes
- Updated data is shared / promoted to the relevant operational information systems where it is used