master data management (MDM)
Master data contains information about products, suppliers, customers and employees. It is often distributed across multiple business units. In addition, they can be inconsistent and redundant, which leads to problems in master data management ( MDM).
The inconsistency of master data, its redundancy in different areas of the company and its distribution across the entire corporate network mean that customer service and business processes are correspondingly costly and inefficient.
Master data equally concerns customer and supplier data, material and product data. They are used in all areas of the company from the call center, customer relationship management( CRM), administration and management; they are required in e-mails, telephone calls, letters or invoices. That's why harmonizing master data through centralized and decentralized collection, management and maintenance, as well as consolidating it across different systems, is a strategic goal so that all employees and business partners can access standardized master data, thus ensuring data integrity across all IT systems. Since many business processes access the master data, standardization is imperative to avoid inefficiencies.