Data quality, standards and other critical aspects of data management are driving software solutions designed to meet increasingly complex data needs. The global enterprise data management market is expected to reach $142.67 billion by 2023, according to Research and Markets. DATAVERSITY brought this topic to our attention in their article, “Better Business Results Depend on Master Data Management and Data Quality.”
To bring data across multiple sources together in a single view for business initiatives is imperative to fully utilize analytical features to guide business strategy. Helping users ensure that data is prepared correctly and accurately for use could benefit from Master Data Management (MDM).
Other solutions across data management and analytics disciplines that also seek to provide single views of data can wind up adding more functionality that isn’t essential to addressing the core issue.
In computing, a MDM tool can be used to support master data management by removing duplicates, standardizing data, and incorporating rules to eliminate incorrect data from entering the system in order to create an authoritative source of master data.
Melody K. Smith
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