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Data quality and master data management

Managing data quality refers to the processes by which errors in the data are identified and corrected. These processes can include data profiling, data purging, interconnection and quality control.

Bad data quality becomes expensive. For example, bad and conflicting data can:

  • cause loss of turnover because of incorrect price information
  • make it difficult identifying opportunities for additional or cross sales
  • make different sites compete for the same customer
  • worsen the customer experience
  • cause invoicing process problems

Master data management is used for ensuring the consistency and reliability of the organisation's official data with respect to selected areas, such as customers or products.

Master data management solutions are used for producing conflict-free data for analytic use. They can also support operative processes and prevent the creation of conflicting data.

Master data management solutions are used to find all the locations that have data related to the subject. Such a subject can be a customer, a person or a product. This data is then imported for use in the desired process.

Master data management solutions are also used for managing inter-data relationships, such as customer organisation structures and customer-vendor relationships.