In today’s dynamic business environment, particularly for large and rapidly expanding organizations, the challenge of maintaining effective data management is paramount. The proliferation of data across disparate systems often results in a fragmented landscape, hindering a company’s ability to extract meaningful insights. As evidenced by recent surveys, a significant majority of data management professionals struggle with understanding their data’s context, usage, and ownership. This lack of clarity impedes the implementation of crucial business practices like business intelligence and AI, ultimately limiting potential gains in efficiency and informed decision-making. To address this issue, the adoption of master data and master data management (MDM) emerges as a critical solution. By establishing a unified, reliable source of truth through well-defined master data, organizations can unlock the potential of their data assets. This paper draws upon extensive practical experience to provide a comprehensive guide to implementing and managing master data programs, emphasizing both the foundational setup and the ongoing maintenance necessary for sustained success.
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