- Having to control huge amount of data will demand on a solution that is suitable for the job
Data has always been considered to be the new oil of digital economy. This comparison may not be totally true in all situations yet it is necessary when it comes to illustrating two main points that data is valuable and should be collected and processed properly before being used.
Currently, a lot of organizations are facing with many difficult tasks on their way of moving to the digital world. Of course, it is not just about big data. Actually, it is about how fast and in which quality such basic information as customer data, material data and other kinds of data are available. In this case, we are mentioning master data maintenance or master data management.
The big characteristic of master data is that the information is not changed in a long time and will be made use as a valid version in different transactions occurring from various locations. In the stage of digitalization, master data management in entrepreneurs have to adapt to two requirements. First of all, they should be complete, accurate and updated. Secondly, they must be quickly enough to use within an organization.
This will ask for a lot of work. Nevertheless, when it comes to using data, in any case, you will need to invest time and much effort. Ordering of the data should be done first instead of searching for data. For instance, a photo of a product is needed for making a flyer or a brochure for that product. After doing some research and making a lot of phone calls, the marketing employee who is responsible for that job will realize that there are some corresponding camera shots in another business called X. there are a series of pictures on the drive and some of which are almost the same. It may take a lot of time to click and check everything and this task is even more time-consuming as employees in the company are often busy with their work every day. Eventually, the marketing manager gets some photos delivered by e-mail, coming with the content about selection and choosing matching captions for the photos. In other words, this task takes a lot of time and every time a photo is required.
- Spending your time ordering instead of searching
On the other hand, if you choose to invest only a little part of this working time selecting the two or three best pictures, a clear image description or caption, that series of photos will become a valuable data record for digitalization.
More precisely, the first requirement mentioned above, which is complete and right data, is achieved. Another area of master data is ordered.
Nowadays, many organizations are staying at this point in which systems for master data management are already being taken advantage for such areas as application, especially when it comes to areas related to production, procurement and purchasing in the form of robust ERP systems, while other areas are still looking for proper software solutions. As usual, these are marketing or product development departments. There are also other programs currently on the market such as CRM, PIM or DAM Software.
This may mean an independent database system for each department or application, which may cause a lot of confuse for IT managers. It is better if there is a more comprehensive solution applied.
- The reason why master data maintenance related to application is not really a solution
For the product flyer which has just been mentioned above, much data is needed. For instance, we have to get product data and key figures, logos and data related to other partners. No matter how the data is going to be used, for sale potentials, for social media channels or for customer requirements, it is all about the marketing time and launch time. To succeed quickly, the correct data must be available here to use.
Nevertheless, if the user needs to log into a lot of databases in order to gather information about the cache, this process will take too long to complete. Nevertheless, because the employees are also keen on working effectively, the valuable results required will turn up in the repository to save much time. Last but not least, when it comes to such factors as accuracy, completeness and consistency of the master data, there is a need for overlooking one more time to make sure everything goes properly.
The only solution for this process can only be a cross-company master data system in which the needed data is navigated and retrieved in high quality, together with relationships between those kinds of data.
- Master data management in a company demands on a clear design
Actually, such a project is another story than an image database. It requires for the commitment of management as well as company members and several months to finish. However, external partners who have experience in this area are able to support and instruct the process to go rightly.
The relationship between individual systems is also a vital factor. With regards to real practice, you should make a list of the following questions’ answers. What the challenges in your company which would be resolved by using more effective data are, which entities are necessary and where you can find that kind of data and how each of data is related to each other. For a more precise overview, it is highly recommended for you to catalog meta data and sources. What is more, you had better evaluate the quality and usefulness of the individual data collections as some data may not be as helpful as other data.
What is more, you must remember that the analysis is not just done with internal master data. On the contrary, you should understand what kind of external data is needed in your business, what sources are recognized and how that data can be used later.