Master Data Management

83% of organizations suffer from poor master data¹.

Master your Master Data.

Master data is the lifeblood of your organization. It underpins every part of your operation from manufacturing purchasing and logistics to distribution, finance and sales & marketing. If not managed effectively your data will very quickly become inaccurate and inconsistent especially if your master data is distributed across various databases in numerous business units.

It is estimated that 30% of product data in retailer and manufacturer catalogs is out of date². Whole production lines can grind to a halt – at enormous cost to your business – because of common ‘errors’ such as a crucial part being entered in the wrong description field which the system therefore does not recognize. In reality many organizations invest heavily in manual resources to rectify poor master data; entire departments exist to correct purchase orders, address pricing errors, adjust invoices and reconcile deductions to remittances.

Master your data, Master your business.

Key steps to ensure your master data is reliable and complete include:

• Create a centralized mechanism
• Cleanse
• Transform and standardize 
• Enrich
• Validate
  

But the complexity and volume of your data may mean effective master data management is outside the scope of your own IT department, and requires specialist external support and technology.

Datactics specializes in helping with master data management. We can help ensure that:

• You are not wasting resource by entering the same information repeatedly and inconsistently – potentially rendering it useless.
• You are able to reconcile data even in highly complex cases following a data merge, for example, where the databases of two or more organizations need to be integrated.
• You improve your customer service, efficiency and compliance with regulations by aligning multiple databases.
• Different business units are able to communicate via a central hub of accurate and timely data, allowing them to join forces to negotiate improved supply terms.
• You can quickly and easily identify synergies to facilitate cross-selling and up-selling. 

¹ The Data Warehousing Institute (TWDI)

² A.T.Kearney