What are Master Data Management KPIs?
Master Data Management metrics and Key Performance Indicators (KPIs) are analyzed and implemented to measure the effectiveness and accuracy of data processes in business operations. These data processes include; New Customer Data Onboarding, Vendor and Product Setup, Changes, Data Submission and Processing. The Master Data Management Team ensures this customer information is received timely and in good order, then stored for future use.
Using KPIs to Monitor Master Data Management Accuracy & Service Levels
Successful Master Data Management Teams use a narrow scope of KPIs and metrics to assess the ease of system data setup and changes, as well as trends of internal/external data integrity. Measuring and monitoring data quality are the top priority of MDM team. With the right tools and KPIs to determine root causes of data quality issues, master data management teams can reduce operating costs and increase customer satisfaction by eliminating customer order issues.
Master Data Management KPIs: 7 Examples to Manage Data Operations
Master Data Management KPIs, when used effectively by management, lead to timely account requests, expedited data inquires, increased accuracy, completeness, timeliness, and on time customer setup levels both internally and externally.
- 1.Total Expense: Master Data Management
- 2.Master Data Management Employees per Thousand Data Records
- 3.Cycle Time: New Customer/Product/Vendor Setup
- 4.Data Record Error Rate
- 5.Percentage of Existing Customer Accounts with Incomplete or Missing Data
- 6.Total Volume: New Customer/Product/Vendor Account Setups
- 7.Percentage of Duplicate Data
Mean Time To Repair
The average amount of time (measured in hours) required to repair a system or application to full functionality following a failure (i.e., a service interruption), measured from the time th...
KPI Type : Service
Formula : Sum Of Time To Repair For All Systems / Number Of Repairs Completed During Examination Period Across All Systems
KPI Benchmark Range : 1.3 - 20.0
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Supply Chain Expense as a Percentage of Total Revenue
The expense incurred through all supply chain processes and procedures (i.e., all costs related to distribution, logistics, procurement, materials management, etc.) divided by the total reve...
KPI Type : Cost
Formula : (Supply Chain Expense Incurred / Total Company-Wide Revenue Generated) * 100
KPI Benchmark Range : 3% - 10%
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