Strategies and best practices for effective Master Data Management
Master Data Management (MDM) involves several components including data collection, cleansing, and standardisation to achieve a single view of assets.
As digital transactions and data grow, more organisations are recognising that MDM needs to be a critical component of their data management strategy and digital transformation efforts.
To achieve effective MDM, organisations need to have a well-defined data management strategy and data governance structure in place to enforce it.
We co-hosted an event with Microsoft in Sydney and Melbourne for data leaders, discussing Microsoft Purview, Microsoft Fabric, Profisee MDM and empowering AI.
For many who have been on holidays, there’s a fair chance they might have booked part of it on Webjet. Webjet Limited is a Global Travel Organisation that enables customers to travel the world through market leading brands supported by innovative technology. In FY23 alone, the award winning global travel business processed over 7.4 million
Watch demos of Profisee: the
industry’s only Adaptive MDM Platform with native Microsoft integrations.
Data management refers to the way data is collected, organised, and made secure and accessible. The goal of effective data management is to optimise data to support an organisation to be more efficient and effective at delivering on its goals.
There are many systems that aid data management, including customer relationship, marketing, data warehouse, and analytics systems.
What are the benefits of data management? Strong data management practices can help your organisation in these areas:
Want to use your CRM system to master customer data? When you choose an application not designed to maintain data quality, these are 2 issues you will encounter.
Smaller organisations may have considered that undertaking such a strategic initiative is solely the domain of larger organisations citing prohibitive…
Data quality refers to the standard and condition of data. Data that is of good quality is accurate, complete, consistent and up-to-date, and serves those who need it.
Managing data quality can include data cleansing to fix errors, and enhancing data sets to complete or update records. It involves a continuous process of reviewing and managing the data to ensure data rules or standards are kept.
Having good quality data results in:
Golden Record Management is the process of matching, surviving and merging to create a single complete record about an asset such as customer or product.
“Golden record” refers to the accurate and complete record. This record can be fed into other data sources to ensure they have the same up-to-date information.
Golden Record Management typically involves a combination of data governance, data quality, and data integration technologies and processes. It is important for organisations who want to ensure they have a consistent and accurate view of their data.
What are the benefits of Golden Record Management?
This in turn leads to better understanding of the business, operational efficiency, time and cost savings, and better decision making.
There are different ways to implement a software. Deciding on an implementation approach can depend on the development method, tools and technology, and processes used to manage the project.
Master Data Management implementation styles include:
Factors affecting which Master Data Management implementation style to use include:
“Digital transformation” has become a bit of a buzzword, but in essence it is how organisations are approaching an increasingly digital world, to stay relevant and competitive.
Digital transformation is the integration of technology into all areas of an organisation. It can involve adopting new technologies such as cloud computing and artificial intelligence. While often the remit of the IT department, it generally affects all areas of the organisation.
Successful digital transformations result in organisations becoming more efficient, agile, and relevant.
The benefits of digital transformation include:
Profisee is the fastest growing vendor in the Master Data Management market. It enables organisations to build a trusted foundation of data and brings together every domain, source, user and record to deliver a single source of truth.
Profisee offers a complete end-to-end solution to handle key business data and important data management challenges. Profisee is known for its ease of use, cost effectiveness and rapid deployment.
QMetrix is a Profisee Field Certified Partner – Gold Status.
The benefits of Profisee include:
We co-hosted an event with Microsoft in Sydney and Melbourne for data leaders, discussing Microsoft Purview, Microsoft Fabric, Profisee MDM and empowering AI.
For many who have been on holidays, there’s a fair chance they might have booked part of it on Webjet. Webjet Limited is a Global Travel Organisation that enables customers to travel the world through market leading brands supported by innovative technology. In FY23 alone, the award winning global travel business processed over 7.4 million
Watch demos of Profisee: the
industry’s only Adaptive MDM Platform with native Microsoft integrations.
QMetrix has worked with organisations across many industries to achieve their data management goals. Learn about the challenges, solutions and outcomes in these case studies of real businesses like yours.
“We no longer have to manually source, integrate and align data from multiple systems to get what we need.
The data integrates with Profisee and makes it easily available for consumption through an integration layer or MDM reporting functionality.” – Senior Data Analyst from a large energy producer in Australia
Learn how Cricket Australia leveraged Profisee Master Data Management to merge disparate data, master millions of records and propel their strategy to provide world class fan engagement.
Ensuring millions of customer data is complete is no simple task. Learn how QMetrix worked with Australia Post to achieve their goals.
We’ve worked with businesses across Australia to do just that. Let’s chat about how it could work for your organisation too.
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