Common Misconceptions About Master Data Management

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Master data is a key to digital transformation. All transformative projects require master data and usually many subject areas. Yet the uptake is not where it should be when considering how enterprises could be benefitting with MDM. This is due to several misconceptions. MDM is crucial to data and business success so in this session, we will identify and dispel those misconceptions

Technology

Susan Pawlak
Senior Manager Product Marketing,
Precisely
Master Data Management
Powered by Data Integrity

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To compete and thrive in
today’s dynamic economy….

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right, compliant, and available everywhere it’s needed—faster.
your core business data must be

Master data domains ++
Financial
Reference Data Locations
List of values that
provide context to
master and
transactional info
Actual places
that support
the business
Reporting and
accounting
categories within
the business
Parties Things
What the
business produces
or manages
Everyone who
interacts with the
business
Prospects
Customers
Suppliers
Employees
Countries
States
Segments
Classifications
Addresses
Sites
Subsidiaries
Zones
Chart of Accounts
(CoA)
Cost Centers
Price Lists
Products
Assets
Services

Modern MDM challenges
6
Poor data
literacy
enterprise-wide
Data risk
exposure
Unsustainable
processes
Lack of data
readiness
Modern MDM demands more augmented capabilities to meet a dynamic market

Modern master data
management requires
data integrity
Data integrity is data with maximum
accuracy, consistency, and context for
confident business decision-making
Data
Integrity

LOCATION
MASTER DATA
MANAGEMENT
GOVERNANCE
& QUALITY
ENRICHMENT INTEGRATION
Your unique data
integrity journey
will reflect your
business
needs
Data
Integrity
But data integrity
is a journey…
• Every journey to data integrity is unique and
driven by business initiatives
• Market trends are accelerating the need for
data integrity
• Precisely can help you at every step of your
data integrity journey

Modern MDM data integrity outcomes
9
Enterprise-wide
understanding
Data policy
management
Process
sustainability
Data fit for purpose
Modern MDM to improve the quality, react faster, and be more agile with your most important data.

10
Value of data integrity powered MDM
Quickly find insights
and adapt to data
changes
Flexibility and
extensibility to grow
with your business
Complete confidence in
critical data

The leader in data integrity
Our software, data enrichment products and
strategic services deliver accuracy, consistency, and
context in your data, powering confident decisions.
of the Fortune100
99
countries
100 2,500
employees
customers
12,000
Brands you trust, trust us
Data leaders partner with us

Let’s continue the
conversation…
Contact us
Set up a 30-minute no-obligation
consultation with our team
+1-877-700-0970
“Get in touch” on www.precisely.com
www.precisely.com
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Master data management (MDM) comprises the processes, governance, policies, standards and tools that define and manage critical data. MDM is used to conduct strategic initiatives such as customer 360, product excellence and operational efficiency. The quality of enterprise Information depends on the master data, so getting it right should be a high priority. This webinar will highlight key factors needed for success in each of the three stages of the MDM journey: Planning Implementation Steady state We review each stage in detail and provide insight into planning and collaborative activities. In this slideshare you will learn: Best practices, tips and techniques for a successful MDM program Top considerations for business case building, architecture and going live How to support the overall program after launching your MDM program

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Common Misconceptions About Master Data Management

1. Susan Pawlak Senior Manager Product Marketing, Precisely Master Data Management Powered by Data Integrity

2. Lorem ipsum dolor ete sit amet, consectetur To compete and thrive in today’s dynamic economy….

3. Lorem ipsum dolor ete sit amet, consectetur right, compliant, and available everywhere it’s needed—faster. your core business data must be

4. Master data domains ++ Financial Reference Data Locations List of values that provide context to master and transactional info Actual places that support the business Reporting and accounting categories within the business Parties Things What the business produces or manages Everyone who interacts with the business Prospects Customers Suppliers Employees Countries States Segments Classifications Addresses Sites Subsidiaries Zones Chart of Accounts (CoA) Cost Centers Price Lists Products Assets Services

5. Modern MDM challenges 6 Poor data literacy enterprise-wide Data risk exposure Unsustainable processes Lack of data readiness Modern MDM demands more augmented capabilities to meet a dynamic market

6. Modern master data management requires data integrity Data integrity is data with maximum accuracy, consistency, and context for confident business decision-making Data Integrity

7. LOCATION MASTER DATA MANAGEMENT GOVERNANCE & QUALITY ENRICHMENT INTEGRATION Your unique data integrity journey will reflect your business needs Data Integrity But data integrity is a journey… • Every journey to data integrity is unique and driven by business initiatives • Market trends are accelerating the need for data integrity • Precisely can help you at every step of your data integrity journey

8. Modern MDM data integrity outcomes 9 Enterprise-wide understanding Data policy management Process sustainability Data fit for purpose Modern MDM to improve the quality, react faster, and be more agile with your most important data.

9. 10 Value of data integrity powered MDM Quickly find insights and adapt to data changes Flexibility and extensibility to grow with your business Complete confidence in critical data

10. The leader in data integrity Our software, data enrichment products and strategic services deliver accuracy, consistency, and context in your data, powering confident decisions. of the Fortune100 99 countries 100 2,500 employees customers 12,000 Brands you trust, trust us Data leaders partner with us

11. Let’s continue the conversation… Contact us Set up a 30-minute no-obligation consultation with our team +1-877-700-0970 “Get in touch” on www.precisely.com www.precisely.com Demos White Papers Case Studies

Common Misconceptions About Master Data Management

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