What is Master Data Management?
Master Data Management (MDM) groups manage the structure, quality and use of data by both internal (e.g., the company's employees) and external users (e.g., clients, customers. The MDM function relies heavily on Information Technology (IT) and the company's technology infrastructure (servers, systems and applications) to store, export and analyze data collected from various sources. The ultimate goal of the MDM function is to provide end users with tools, policies and procedures to manage and use data assets. Activities carried out within a typical MDM function include modeling and creating a central database, developing company-wide policies regarding data (vendor, customer, product and company data), standardizing data quality and aligning company infrastructure assets with data-related goals.
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A typical master data management (MDM) function is composed of several common sub-functions, or teams, that work together to develop strategies for the management of internal and external data, align business needs with data and application design, and ensure that they company's data-related assets are in good order and generally useful. Browse our Master Data Management organization chart page to learn about the roles and responsibilities of each major function. Then, download our org chart template (PDF, Visio, PPT) to further understand organizational structure, and support improvement efforts within master data management operations.
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Check out our master data management best practices page to view selected descriptions of work methods that have been proven to produce better results (as compared to other, similar methods). Want more? Download our Master Data Management best practices guide, which provides a healthy selection of valuable best practices that can be incorporated to improve master data management operations. There might not be only one "best" way to perform every task. However, there is always a "better" way.