Master data management ‘has many benefits’

Companies which employ master data management processes will benefit in several ways, it has been suggested.

IT Business Edge columnist Loraine Lawson said she had recently been impressed with an article by IT World writer Pedro Cardoso, in which he outlined some of the reasons why master data management is a good idea for organisations.

This includes its money-saving potential in reducing costs for data integration work, as well as its ability to keep companies onside with compliance regulations.

It will also help companies carry out important work that may have been put off, in areas such as data governance.

“[Master data management] addresses data issues that will benefit business intelligence projects and business project management, plus it can help with service-oriented architecture,” the article went on to advise.

Last month, Jinesh Radadia, Partner and Practice Leader for Information Management at EMC Business Consulting, said the solution is useful in creating a centralised and reliable source of customer data, reported the Information Management website.

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About Andy Painter

A passionate Information and Data Architect with experience of the financial services industry, Andy’s background spans pharmaceuticals, publishing, e-commerce, retail banking and insurance, but always with a focus on data. One of Andy’s principle philosophies is that data is a key business asset.
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