Essential traits of MDM
Any Customer MDM software solution seeks to ensure there is uniformity, accuracy, semantic consistency, controls, and accountability of the organizational customer master data. There should be the expectation that the data is to be used by multiple groups with different needs and expectations in relation to that data.
The data itself will vary from business area to business area, in terms of importance but overall the expectation is that it should be of high quality without duplicates and accordingly fit for the specific purposes of the business.
A typical set of traits in your customer master data management system should provide infrastructure, methods, and processes in support of the following key activities:
- Business Area partitioning
- Multi-user role and team definition
- Metadata definitions of one or more customer master object(s)
- Metadata definitions of the key attributes and what constitutes acceptable data types and values
- Definition of a semantic data model and classifiers
- Definitions and mechanisms to support data governance procedures
- Collection of master data in a central repository via manual entry & automation
- Data maintenance processes including data quality and statistical reporting
- Data Syndication
What about machine learning and artificial intelligence?
While the use of artificial intelligence and machine learning is advantageous and can prove to be accelerators in the implementation and adoption of any MDM, these are technical approaches to ensuring the efficacy of data governance and data management where the processes policies and procedures are clearly defined.
The presence of AI and ML should not be mistakenly considered a prerequisite for MDM particularly if there is a low level of organization data governance maturity or where the business is nascent in its data governance program.
Pretectum’s CMDM comes with AI and ML elements but it is not necessarily technology that is suited for every kind of scenario.
The Pretectum CMDM provides businesses with a single source of the core customer data that you define, in one or more ways, for use across the entire organization. This centrally trustable and governed data repository helps businesses to gain valuable insights and engage in better decision-making.