Master Data Management to Gain a Consistent View of Critical Business Data – A Healthcare Logistics Case Study by Quantzig
Master Data Management Trends
- Big data: Every data management strategy basically revolves around the concept of big data. This includes the development of a protocol to handle massive volumes of complex data and strategies to connect the raw data to customer profiles.
- Multiple domains: There is a growing demand for master data management systems that can handle can multiple data domains.
- Cloud infrastructure: The integration of data management platforms with SaaS applications has increased the development of cloud-based data management systems.
Best Practices for a Master Data Management Strategy
Creating a good master data management strategy and putting it into practice is not an easy task. It requires the incorporation of best practices to achieve the desired data quality. Here are a few best practices that businesses should consider while implementing a master data management strategy:
Think big: When rolling out a new data management strategy, it is important to start by focusing on smaller data sets that may pose serious challenges for enterprises.
Update periodically: The master data management strategy should be regularly updated to ensure it has the accurate information.
Track ROI: Players from different sectors possess different end goals, the ROI obtained should be tracked and examine in detailed after each rollout phase.
Pay attention to data misalignment: If data alignment is considered to be a one-time occurrence, it is quite apparent that you will encounter the same data misalignment issue frequently. This makes it essential to ensure your master data management strategy is built on the basis of your business goals and objectives.
Continue reading to know how we helped a healthcare company master data management or request a free proposal.