MDM: A Unified Approach to Business

A company has various units or departments. Each of these keeps records relevant to their tasks and responsibilities. However, these records hold information to the entire business operations. Some of which are employee records, customer names, distributor information, sales data, physical and e-mail addresses, contact numbers, company products and services, prices or rates, and contracts. The use of Master Data Management or MDM ensures consistent use of all these data. It also makes the collection of data easy for each department. MDM interacts with all office documentations or reference data. It contributes a lot in organizing the operation of every section. It sees to it that everyone gets the correct facts and figures. To illustrate, the Sales Department needs to confirm that there are 10 pieces of computer tables left before he can assure the customer that delivery is possible. Another department, the Control, also needs to know how many pieces of the same computer tables are left so it can update their supplier. Both of these departments then access the master data to acquire the information. They are sure to receive the same record because they got it from a single source. The use of MDM for business operations avoids inconsistencies. It further avoids disputes that result from data discrepancies. google_ad_client = "pub-2311940475806896"; /* 300x250, created 1/6/11 */ google_ad_slot = "0098904308"; google_ad_width = 300; google_ad_height = 250; Customers are most likely to stay because they are satisfied of quality service brought about by efficient data control. Business affiliates will remain confident because they are assured of data standardization and organization. In business, uncomfortable and dissatisfied customers and affiliates equate to losses. A case in point is when the marketing department of one company sent an invitation to a customer about one of its loan products. The lady customer was so surprised because she already has an existing loan with the company. Another example is when a male client contacted his credit card company to change his home address. The client has already moved to his new home for several months when he received a notice from the credit card company's attorney to settle his debts or he will be sued. All the while, his billings were delivered to his old home address. The first company lost its customer's confidence, and the other lost an important client. Businesses must make sure that they integrate MDM into their system. This will enable them to keep an accurate recording of information that will make for smooth-sailing business operations. However, before purchasing one, they must check first the features of the data management tool they are considering. The tool must ensure ease of access and operation, or employees will find it difficult to keep up. More importantly, they must make sure that the method has the ability to address the requirements of all users.

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