Organizations often have multiple business units, usually in different geographical locations, with each unit holding several applications. Each of these units sends and receives loads of data. Master data management applications consolidate a master record from several source systems. The solutions then offer the business end-users a single source of truth (a master record). MDM eliminates duplicate data and harmonizes the contents of master data, including descriptions, templates, manufacturer's names and part numbers in materials catalogues, first and last names, mailing addresses, phone numbers, and email addresses in counterparties catalogues. Additionally, MDM includes controls to prevent false reference data from being inserted into the system.
If your company is experiencing trouble with data centralization and migration, which is a common problem for growing enterprises, this article can serve as a starting point to find a successful solution.
1. Complex Source Data
2. Data Loss or Corruption
3. Data Reconciliation
(1) Data mapping and reconciliation
(2) Records found in target catalogues – validate
(3) Records not found in target catalogue – add new
b. "Trickle" Migration
(a) Evaluate Your Systems Source
(b) Plan and Establish the Migration Process
(c) Create a Migration Sequence
(d) Perform a live test
(e) Switching the Light On