MASTER DATA MANAGEMENT IMPORTANCE IN TODAY’S ORGANIZATION

Master data management comprises tools required for an organization to run their business operations in terms of data, such as marketing strategy. The primary function or role of MDM is to maintain and improve the data integrity of the organization. In this case, their service will be an offer to clients with accuracy. Access to such data will also result in stabilizing the business operations, thus acquiring real-time data. Current organizations contain a large volume of data from multiple sources, external and internal sources; therefore, managing such data is essential. However, the organization sees the need to have confidence in their data whereby evaluation, analysis, and control is needed to acquire such aspect. The paper contains different facts that elaborate on the need for and importance of MDM in business operations. Organizations benefit from MDM by gaining high-quality data, reducing time, costs, data redundancy, and ensuring data accuracy. Also, MDM helps organizations to practice data compliance and regulations. MDM ensures data breaches are mitigated and blocks any potential threat or risks to the system. This paper aims to provide facts and show the importance of MDM to the organization regardless of its size. Implementation of MDM initiative in their operations will increase their production and efficiency.