Master data is the core of an organization’s systems; it is the central entity around which the business of an organization revolves. Inconsistencies in master data affect business and IT functions in terms of operational efficiencies, customer management and infrastructure optimizations.
Though organizations are striving to manage master data as an enterprise asset, unfortunately the success of master data management programs is quite low. Successful MDM requires strategic planning and vision plus executive sponsorships and buy-in of key stakeholders. The organization should also ensure that MDM is a business-led initiative and should jointly be owned by business units and the IT department.
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