Abstract
Critical Data Consolidation in MDM to Develop the Unified Version of Truth
Highlights
Data Management is concerned, with the entire lifecycle of a data resource from the creation to retirement, with advances and changes
In present study, an algorithm for critical data consolidation in Master Data Management (MDM) has been designed for small organizations
As Small and mid-sized organizations do not have the required capabilities to support best practices in MDM. They often underestimate complexity, cost, the flexibility to add attributes, and level of collaboration required for MDM program. To realize this target, a holistic approach for resolving and managing critical data entities in MDM has been presented in the present paper
Summary
Data Management is concerned, with the entire lifecycle of a data resource from the creation to retirement, with advances and changes. Data Management comprises the procedures, practices, ideas and measures for proficient utilization of data resources. An enlargement of the data size, in many folds, makes the organizations to adopt the data management practices to maintain the quality. The transformation, integration and cleaning of data is needed for efficient handling of data [1]. The new challenge for maintaining the quality of most essential assets of business demands Master Data Management (MDM) program. MDM comprises of technologies, processes and disciplines to incorporate the cleaning, administration and controlling all shared data assets. The core benefits of MDM includes informed decision making, reducing data duplication, better data compliance and handling change requests
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