Technology research and consulting company Gartner defines Master Data Management (MDM) as a “technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of the enterprise’s official shared master data assets.”
If the four pillars of master data management, namely, migration, consolidation, governance, and access, are done right, the benefits to an enterprise are many.
Here is how the business benefits of MDM are linked to business growth
Experience operational efficiency and business agility from easy access to customer, product, or services data. Employees can act faster with zero ambiguity. This also improves customer satisfaction.
Enjoy improved decision-making from access to streamlined, quality data, which results in revenue growth.
Data-driven activity, no complexity, be it for go-to-market activity, supply chain visibility, or any other. Identify new opportunities for revenue growth or launch new products and expand the business.
Compliance with data regulations and regulatory standards as data is stored securely. An MDM also reduces the possibility of expensive data breaches.
Is your enterprise struggling with data silos? Every day without an MDM solution results in the loss of potential of your data? Extract maximum value from your data for business growth. Reach out to Navabrind IT Solutions. We will be glad to drill down into the many benefits your enterprise can extract from your data. We have helped a host of customers across industries, and we can help you too.