Abstract

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EFFECTIVE WAYS FOR MASTER DATA MANAGEMENT (MDM) IMPLEMENTATION

Ronak Pansara


Customers, financials, products, business partners, workers, localities, trading contacts, solid assets, petitions, and blueprints are all common particulars in any corporation. [1] Master Data refers to these data pieces or business organizations. Master Data Management is the method and technology for gathering Master Data from many domains within a business and maintaining a single consistent view (MDM). [2] Health, financial services, manufacturing and technology, supply chains, telecommunications, Aerospatiale crafting, and security use MDM. This article demonstrates how to deploy enterprise master data management in domain-specific businesses using technical solutions. [2] Master Data is an issue whose importance is growing dramatically because it has a significant impact on a company's overall profitability, despite having no direct impact on earnings or benefits. [3] Thus, the goal of this thesis was to describe what this issue is, how it is related to businesses, how it affects business processes, and lastly, what solutions are available to prevent and solve its consequences. Even in the most fundamental procedures, the effects of inadequate Master Data Management can be seen. Profitability losses can take many forms, direct (such as increased expenses) and indirect (such as time waste or customer unhappiness).