Master Data Management KPIs, Metrics & Benchmarks

KPIs & Metrics to Measure and Manage Master Data Management Effectiveness

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. 1.Total Expense: Master Data Management
  2. 2.Master Data Management Employees per Thousand Data Records
  3. 3.Cycle Time: New Customer/Product/Vendor Setup
  4. 4.Data Record Error Rate
  5. 5.Percentage of Existing Customer Accounts with Incomplete or Missing Data
  6. 6.Total Volume: New Customer/Product/Vendor Account Setups
  7. 7.Percentage of Duplicate Data

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