Master Data Management Tools for Data Governance and Management
Leverage Big Data with Master Data Management
When duplicate customer data exists across disparate systems in large organizations, the results can have a negative impact on effective business decisions, operational efficiencies, customer retention, and new sales opportunities. A quality Master Data Management system is crucial for dealing with data across extensive enterprises, especially those with many product offerings or that have expanded through extensive series of mergers and acquisitions.
Master Data Management is a process that ensures an organization does not use multiple, inconsistent versions of the same data in different operational segments. This issue can be especially troublesome for large organizations where there could be many units tracking the same information, but all keeping that information in different formats, with varying degrees of accuracy and completeness. Through the use of a process called record linkage, the organization is able to associate different records that relate to the same entity or item.
On a small scale, deduplication processes on a single database may be enough to correct redundant data. But in large organizations with 5, 10 or even 100 separate databases containing customer information, a quality Master Data Management system is required to manage the huge amounts of data involved. Anchor Software’s Master Data Management system employs the most advanced technology to provide organizations with master data , or “golden record,” on each customer. Validating, standardizing and consolidating data across multiple systems, allows a 360º view of each customer, with accurate and complete data available to all stakeholders across the enterprise.
Master Data Management
The Customer Data Hub is Anchor Software's Master Data Management system. This software package allows organizations to coordinate disparate data systems into a single repository. For each customer or prospect, a single "golden record" is created enabling a 360° view of the customer.