The quality of your business rests on the quality of its relationships: between your organization and your customers, suppliers, and products or services.
Managing the uniqueness, integrity and interrelationships among all these entities helps:
- Grow your business
- Improve efficiency
- Manage risk
While earlier systems for integrating data typically dealt with a single type of data at a time – customers or products or vendors, for example – a complete master data management solution enables you to look at relationships across all sources and types of data.
Your master data management solution should deliver to end users and applications a single, trusted and complete version of not just a single type of data, but all of your critical data assets. Making those assets available to business processes and decision makers can transform your organization.
- Can you identify the parent-child relationships of all your corporate accounts?
- Can you view the same set of data from different perspectives, such as legal entity hierarchy vs. sales hierarchy?
- Do you have the ability to examine and manipulate relationships that span multiple entities and multiple domains?
- Can your systems consume and visually represent the hierarchies in third-party data and internally built custom datasets?
- Can you create a "right version of truth" for each of your different lines of business from all your data sources?
It’s up to your data stewards to maintain data quality that’s used to make critical business decisions that affect purchasing, M&A, and industry- and government-mandated reporting. It’s up to you to give them the tools they need to do their job.
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