The quality of your master data is measured by how suitable it is for meeting the information needs, as well as specific requirements and tasks in your company. The greater the information gap, the susceptibility to errors and the inefficiency, the worse your master data quality. Because permanently centrally available, complete and error-free master data are the most important key factor for your business success. Because all operational and transactional processes and procedures in your company are based on them. The worse the quality of your data, the more inefficient your company will be, because strategic wrong decisions are occasionally made due to the incorrect database. The success of quality offensives usually fades over time if the problem is not tackled holistically. The reason this happens is because the basic problem is your heterogeneous data landscape with multiple maintenance requirements, duplicates, workarounds, as well as manual data consolidation and evaluation.
Our multi-domain Master Data Management is designed, among other things, to ensure consistently high master data quality with the help of four data dimensions. This approach is based on your individual master data model, which you define together with us in a workshop before the implementation of the Enterprise Suite. The underlying principle follows four data dimensions:
Data integration
The Golden Record is formed from all available, previous data sources in the Enterprise Suite and stored centrally. This master data record (the so-called golden record) is correct, consistent and contains all relevant attributes, including duplicates. In addition, the origin of each individual data element is automatically and traceably stored in accordance with the EU GDPR. For example, in the case of customer data, you always have the option of completely deleting all elements of the master data record in all IT systems if a deletion request is received. With the golden record, you tap into the available information content of your master data and make this knowledge centrally available to the entire company in compliance with data protection and internal compliance.
Information integration
In order to get a 360° view of your business units, and thus the full information content of your master data, your golden records are refined with additional context. For this purpose, the relationships and dependencies between your master data records are mapped. At the touch of a button, you can always keep an eye on the context of things or business areas and ensure that your master database is consistent and homogeneous.
Data versioning
Your master data is the strategic asset in your company that gives you a complete overview of your business. This also includes a detailed chronicle of your master data records. Only if you understand the past you can derive the right conclusions for future innovations and the further development of your company. For this reason, the Enterprise Suite automatically saves all changes and new installations with user, time zone and time stamp or, if applicable, validity. With just a few clicks, you can access the complete view of your master data at any time as at a specific reporting date.
Reporting tool & time stamp
All master data quality criteria are only met when your master data contributes to data-driven decision-making and efficiency. Which golden record is suitable for this depends heavily on your business model, processes and corporate structure. Because it is only with your reporting-date-specific, individualised analyses, reports and graphical representations in the Reporting Engine that your golden records receive the necessary information, which in turns enables you to gain useful insight. Even historical comparisons or complex documentation can be created with just a few clicks.
A permanently high quality of master data prevents the causes of inefficiencies, errors and strategically awkward decisions. After all, only if you have a complete, correct and complete 360° view of your business areas will you tap into the full information content of your master data and make it the most useful asset to achieve your strategic and operational business goals.
