Too many names for one customer or Master Data Management, part I

What: Master Data (MD) and Master Data Management?

DAMA defines Master Data as “data about the business entities (e.g., employees, customers, products, financial structures, assets, and locations) that provide context for business transactions and analysis.” Does it mean that virtually all data is considered to be master data? MD is data about business entities that are core to business processes and operations. Thus, Master Data Management can be defined as a set of practices and tools to consolidate, cleanse, govern and share an organization's critical data about core business entities.

Why?

As per the DAMA-DMBOK2, the most common drivers for
a Master Data Management program are:
— managing data quality to deal with data gaps, duplicate data, and data inconsistencies across applications.
— managing the cost of data integration and reducing risks by allowing data reuse and sharing between different systems.
— meeting organizational data requirements by creating and sharing a master dataset for all departments.

How (architecture)?

There are three main architectural models for an MDM.

Inspired by https://www.slideshare.net/CCGSS/master-data-managements-place-in-the-data-governance-landscape*

How (Master Data Management tools)?

Master data can be grouped into data about parties, e.g. customer data; products and services data, such as data about product functions, features, etc.; financial structures data, such as ledger accounts, cost centers; and locations data, such as address and GPS coordinates. If in the past, there was a tool separation, depending on a domain, for example, MDM of customer data or MDM of product data — see image ‘Figure 1. Magic Quadrant for Master Data Management of Customer Data), multidomain MDM, capable of handling multiple applications, has grown in popularity — see Figure1. Magic Quadrant for Master Data management. Tibco, SAP, Informatica, and IBM remain in the quadrant year after year.

How (Master Data Management on AWS)?

As I’ve been working mostly with AWS, I got curious about vendors that listed their MDM-related products and services in AWS Marketplace.

Find the complete list at AWS Marketplace, https://aws.amazon.com/marketplace/b/19f1b91f-70df-4e15-a245-94fcc8dcdaa7?category=19f1b91f-70df-4e15-a245-94fcc8dcdaa7

Other resources:

  1. Case studies from AWS: https://aws.amazon.com/blogs/apn/building-a-single-source-of-truth-with-a-data-hub-from-semarchy/

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Eka Ponkratova

Eka Ponkratova

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I’m a data consultant, interacting closely with you to get data to work for you www.linkedin.com/in/eponkratova