As organizations take in more data from a growing array of applications and sources, managing its consistency and accuracy is critical. But getting master data management “right” is fundamental. It requires a strategic mix of data architecture, business process, governance, metrics, and more. With the right foundation, and digitization advances, including the ability to scale big data in the cloud, leading organizations can leverage data-driven insights to adapt based on changing business conditions.
Here, we outline the 7 criteria essential for an Master Data Management software to thrive and produce strong return on digital investment.