A great Master Data Services solution will help you standardize your data.
We can help you and your organization by designing a Master Data Services (MDS) solution that sources all pertinent data, cleans the data, and creates a central master data hub. Our solutions can be made with the functionality to synchronize the master data back to the source systems, depending on your needs.
An organization’s disparate versions of data should be consolidated and standardized into a central MDS solution to best manage this scenario. Without doing so, the issues below can arise.
Common issues that result from disorganized data:
#1 – Reporting is inaccurate which leads to poor business decisions.
Customers and products can be listed with different names and other associated data in the disparate versions. Inventory counts can be wrong due to product name mismatches. Even legal ramifications can occur in extreme cases. A customer might be sent collection letters to the wrong address, upsetting the customer and resulting in a lawsuit.
#2 – There is no authoritative source of data.
It’s hard to make sound business decisions based on data when you don’t know which system holds the correct version of the data. Consolidation eliminates this risk and ensures everyone is on the same page.
#3 – The organization cannot enable, monitor, or enforce data stewardship processes easily.
It is difficult to apply governance, controls, and auditing to a company’s data when there isn’t a central system to enable one to do so easily.
Utilizing an MDS solution will empower your company to:
You can have a great Master Data Services solution.
Get your data organized and improve your business intelligence and reporting capabilities.