Many companies today rely on hundreds of separate applications and systems, for example ERP, CRM, where data can be fragmented, duplicated and outdated. When this happens, it becomes difficult to answer even the most basic but critical questions about any kind of Key Performance Indicators.
Getting answers to basic questions like
- Who are our most profitable customers?
- Which products have the best margins?
- How many employees do we have?
...can be difficult – especially if you require accuracy.
Basically, the need for accurate, timely information is essential. But while sources of data increase, managing the data and aligning data definitions with the rest of the organization is a never-ending challenge.
To meet this challenge, businesses turn to Master Data Management (MDM).
