MDM

Master data management means standard information of entire enterprise that is commonly consulted and used for various works and processes without being frequently changed. Master data in the enterprise should be controlled and managed so that they can be commonly used for multiple systems of the company, and they should maintain ‘single version of truth’.

Issues

  • Wrong information on customers and products causes loss of opportunity, increase in costs and dissatisfaction of customers.
  • Redundant management by existing systems and inconsistent information make it difficult to secure companywide view, resulting in an increase in costs for managing and operating data.
  • As core information and data in numerous systems are managed separately, enterprises experience difficulty in securing integrated companywide view.
Method of managing master data and KPI
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Method-of-Managing-Master-Data-and-KPI
Model of operating master data
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Principle and criteria of operating MDM
Classification Criteria Description
Governance Single view Manage with integrated management ID system to prevent duplication of master data of company
Observe corporate standards and work rules Control to observe corporate criteria (standard governance system and work rules) for master data of company
Unify data production channels Install a solution that can generate and manage (revision, abolishment and distribution) master data of company through a single channel
Implement responsible data management system Ownership of master data of company will manage items of master data as well as their properties
Quality guarantee Continued activity of managing quality Activities of managing quality of company’s master data include pre- and post-verification of quality, and activities of removing basic causes of deteriorating quality
Keep system of constantly monitoring quality Conduct overall consistency examination, ranging from production of data to distribution and use, on quality of company’s master data.
Expected effect
Maintain high-quality information
  • Criteria of work and data are enhanced with clearness, transparency and accuracy
  • Allow to register, manage and analyze data without increasing managing manpower, while removing duplicated data (refinement)
Easy search
  • Build standard integrated model by finding out who and why generate master data in multiple systems, and what properties they manage
Secure diverse information
  • Use for achieving business BI through single view
Central control of discontinued/unused data
  • Integrate and manage multiple master data by separating static information from dynamic business systems
Reduce related costs
  • Simplify method of connecting master data between systems
  • Improve scalability for installing new systems or changing them
Case Study
Korea Transportation Safety Authority Installed integrated data management system and integrated information
National Assembly Secretariat Installed data standard management system