by Angela Guess
A new video from IBM covers some important best practices for master data management. According to the video description, “Master data should be managed centrally, to provide accurate and consistent information to the downstream applications that consume it. The process of creating, managing and delivering master data is called ‘master data management,’ or MDM.”
The description continues, “This video gives specific examples of how the use of MDM can: (1) Increase revenue by identifying cross-sell and up-sell opportunities by knowing who customers are and what products they are purchasing. (2) Make organizations more agile by consolidating data from silos, enabling system integration more quickly during mergers or acquisitions. (3) Gain a better view of customers and households resulting in reduced mailings and ability to identify and manage risk more effectively. (4) Reduce risk by controlling access to data, enabling reporting, and managing customer privacy preferences.”
The full video can be viewed here. It is a little under eight minutes long.