MDM is not a technology but rather a discipline that needs to be meticulously introduced in an organization. MDM is a requirement for all organizations, especially in manufacturing where millions of dollars are spent in marketing and efforts to provide a better customer experience. Lately, MDM has evolved as a necessity for businesses with a direct focus on customers.
To understand MDM, it is essential to comprehend company data in its entirety, especially all the sources that need data or that provide valuable data. Understanding the data and logically grouping that data in respective modules can be termed as an MDM function. In standard terms, MDM is the business capability that delivers a single, trusted and complete version of critical data assets to applications and end users to support efficient operational business processes and strategic decision-making.
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