Master Data Management
Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference. When properly done, MDM streamlines data sharing among personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platforms and applications.
Many corporations are challenged to assess their master data. Most corporations recognize the importance of their master data. Few corporations understand how to monitor, assess and correct their master data when there are issues. Novius Group provides services to evaluate master data, determine sustainable quality, assess the data governance organization and help build a "to be" state that reduces risk of data corruption, data inconsistencies, data incompleteness, and data security from within the system.
The benefits of the MDM paradigm increase as the number and diversity of organizational departments, worker roles and computing applications expand. For this reason, MDM is more likely to be of value to large or complex enterprises than to small, medium-sized or simple ones. When companies merge, the implementation of MDM can minimize confusion and optimize the efficiency of the new, larger organization.
Novius Group has extensive implementation experience in many of the leading Master Data Management products.