What is Tibco MDM (Master Data Management)?
Master Data Management is a business-led program for ensuring that the organization’s shared data–aka master data–is consistent and accurate. MDM programs incorporate the individuals, procedures, and frameworks used to keep ace information exact and reliable.
Most organizations today operate a number of different systems that all contain important data on customers, the business or other crucial business KPIs such as CRM’s, ERP’s, etc. This leads to data silos, duplicated data, incomplete data and therefore, a disjointed view of the business. Since data is in many different places and in many different languages, answering simple business questions such as “What services did our customers use the most last quarter?” or “Who is our most profitable customer?” becomes difficult. (E learning portal)
In order for Master Data Management to work, it must be a group effort that should be an ongoing endeavor. Usually, larger organizations will elect a group of people to establish and enforce best practices for data quality. Connecting data sources and providing data governance cuts across an entire organization. In this manner, purchase in and support from upper administration are pivotal to the accomplishment of any Master information the board program.