Master Data Management (MDM)
Master Data Management is a solution for efficiently and securely managing large amounts of data in a company. It represents the link between your systems and data by encompassing all strategic, organizational, methodological, and technological activities related to the data.
Master data provides basic information about business objects such as products, suppliers, customers or employees, which will not be changed over a certain period of time. In contrast to transaction data (e.g. invoices, purchase orders, delivery notes) and inventory data (e.g. stock, account balances), master data is property-oriented, i.e., it essentially describes the properties of real objects.
Master Data Management (MDM) gives you the ability to merge all your existing customer data into Golden Records. This consolidates the relevant information into a single record, which in turn improves the quality of the data and prevents duplication. Thus, the employees in all departments are always up to date.