Journey on: Four must-haves for a strong master data management solution
Lying at the center of every business decision and transaction is master data, which consists of common data about customers, suppliers, products, accounts and much more. Businesses with effective master data management (MDM) strategies are poised to make better decisions, lower their costs, improve customer service and adhere to governance requirements more easily.
While each organization and industry will have unique needs and priorities for managing their master data, the following four qualities are universally required to build and sustain a strong MDM solution.
- Accurate search and match functionality
Search and match functionality allows businesses to detect duplicate data and correct imperfect or incomplete records. Manually resolving such issues incurs avoidable expense and wastes time, but failing to correct them can render marketing campaigns ineffective, bypass sales opportunities or corrupt patient records—to name just a few of the potentially disastrous consequences. An MDM solution featuring search and match functionality powered by probabilistic matching algorithms can help organizations quickly and accurately complete this essential task.
- Performance and scalability
Organizations often gauge the success of their MDM strategies by measuring model creation speed or initial data load. These measurements, though useful, represent only early implementation and setup by IT and do not help discern business value. Rather, a successful MDM solution should be measured by its effect on business processes, including the degree to which it enhances the user experience, cuts IT costs for performance tuning and diminishes the effort required for solution expansion.
- Pre-built services and data models
As master data becomes ubiquitous, the data must be integrated into increasing numbers of data repositories. In view of the many technologies available—whether current, legacy or imminent—an MDM solution should feature pre-built integration capabilities and data models derived from best practices. Such data models not only save time spent on design and implementation, but also help avoid the creation of models that will quickly become obsolete.
- Deployment flexibility
MDM strategies should stay ahead of constantly evolving business requirements. Even within the same organization, various projects may demand various types of deployment styles, including four of the most common: implementation, coexistence, consolidation and centralization. Though many MDM solutions work for only one type of deployment, a solution that performs across implementation styles can help businesses operate efficiently.
IBM InfoSphere Master Data Management V11.5
The new IBM InfoSphere Master Data Management V11.5 delivers all these essential capabilities along with many additional enhancements and advanced features. IBM’s flexible and comprehensive MDM solution offers:
- Streamlined search and match functionality that saves organizations time and money
- Excellent scalability, even when the system’s load is tripled
- Double the TPS with half the hardware, when compared to results from competitors
- Pre-built, best-practice models compatible with a variety of data domains and optimized for real-time performance
- A library of more than 800 business services that allow organizations to quickly construct them into relevant business functions
- A single solution that works across the four common deployment styles
- Easy integration with Hadoop
- A stewardship center where users can collaborate to improve master data quality
Discover how to enhance your business through better metadata management. Additionally, for more information about integration and governance, be sure to explore this informational IBM Analytics resource page.