TECH & DEVELOPMENT
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master data management
TURNS DATA INTO STRATEGIC VALUE
The need for MDM
The amount of data has increased immensely following the digital transformation of our society, and consequently so has the need to manage it. At the same time, this influx of data in various company systems has become both a challenge and an opportunity for organisations today
A core aspect of a successful Data Management strategy is to prioritise the data that is most critical to the business and focus efforts around this before doing anything else. This business-critical data — the “master data” — is often scattered and siloed in diverse systems, and it needs to be centralised, structured and quality assured before it can be fully capitalised on. By working strategically with this data in your company, and with an MDM system in place, you can optimise the management and the value of your master data.
WHAT IS MDM?
Master data encompasses people, places, and things that interact to facilitate business processes. It includes information about these “entities” that provides context for business transactions. Examples of master data include product data, customer data, and supplier data—critical information for specific organizations. This data is shared across various business processes and systems within the company.
MDM involves centralizing master data, establishing workflows, and automating processes to drive business growth. By creating a “Single Source of Truth,” organizations benefit from improved data quality, faster time-to-market, enhanced customer experiences, and the necessary agility to remain competitive. MDM serves as a collaboration platform, enabling secure and efficient sharing of comprehensive data. It promotes data transparency, granting secure access to accurate information for better analytics and data-driven insights, ultimately supporting sustainable business scalability.
DEDUPLICATION AND THE GOLDEN RECORD
Many companies grapple with duplicate records, leading to poor customer experiences, excessive returns, missed upsell opportunities, and time-consuming data cleansing. Deleting records outright isn’t feasible—they serve specific business purposes. Data ownership and access vary across relationships, making it unclear which record is most reliable, complete, or up-to-date. For instance, customer data may exist in different applications (such as ERP or CRM), complicating trust decisions. Deduplicating and merging disparate business views into a “Golden Record” provides a trusted view and definition that can be shared across channels.
Organizations benefit from both a “Single Source” of data and a “Single View” (the Golden Record) across multiple lines of business, serving different needs and purposes.
MDM Systems
A robust Master Data Management (MDM) solution not only prevents data silos and fosters data transparency but also empowers companies to swiftly adapt to changing buyer preferences, customer demands, and compliance requirements. Modern MDM platforms enhance business agility. To meet these evolving needs, you require an MDM platform that can scale effectively—both in terms of data volume and the types of data it handles. Whether you start with a single domain (such as product information management or PIM) and gradually expand to include customer data, supplier data, assets, and sustainability data (multidomain MDM), or whether you need the flexibility to deploy cloud-based products and services, the right MDM solution is critical.
At Nexer, we prioritize strategic partnerships and prioritize your business success. We recommend solutions that not only give you a competitive edge in your industry but also drive digital development and align with your MDM strategy.
We have been partners with Stibo Systems since 2011. The Stibo Systems Enterprise Master Data Management platform (STEP) is designed for scalability, supporting multi-domain Master Data Management. Using STEP’s accelerators, companies of all sizes and complexities can centralize their master data, data models, and business processes on a dynamic, user-friendly platform. The MDM platform offers native certified connections to major enterprise systems and point-and-click configurable integration options for XML, JSON, CSV, Excel, JMS, REST API, and microservices.
Stibo Systems STEP
We have been partners with Stibo Systems since 2011.
Stibo Systems Enterprise Master Data Management platform STEP is scalable for your future business needs and supports multi-domain Master Data Management.
Using the solution’s accelerators, companies of any size and complexity can centralise their master data, data models, and business processes on the same dynamic, user-friendly platform. The MDM platform has native certified connections for most major enterprise systems, as well as point-and-click configurable integration for XML, JSON, CSV, Excel, JMS, REST API, or microservices.
our expertise
We have extensive experience of MDM and can help you set up a successful strategy for your data management. We design and implement solutions and create integration with the systems needed. Our methods are based on many years of experience in consulting and implementing MDM and PIM in various industries for many companies in different countries. We work with Husqvarna, SKF, Ahlsell, Mekonomen, Chick Fil A, Walmart, KGK, Thule Group and others globally.
Our analysis is business process driven and we believe in an agile configuration and implementation approach. We are convinced that to design the best possible solution, we must first analyse and define the relevant business and data processes together with the customer.
“The solution has enabled Husqvarna to automate and streamline its processes, as well as providing system support and functionality for improved data quality. Husqvarna is very pleased with the implementation of Stibo Systems STEP for MDM & PIM and the ongoing cooperation with Stibo Systems and Nexer.”
Hillevi Agranius, CIO Husqvarna Group
THE IMPORTANCE OF MASTER DATA GOVERNANCE
Master Data Governance (including all data governance) is often perceived as an administrative and compliance burden. However, it directly impacts a business’s ability to grow and achieve new goals. Clear policies and rules are essential for acquiring, storing, managing, and sharing master data, along with defining standards. But these policies must also be understood and enforced. A successful Master Data Governance strategy must involve people and processes, just as your Master Data Management (MDM) strategy encompasses organizational structures, processes, and systems. While IT programs can support Data Governance, an MDM system provides the necessary capabilities. However, the system can only apply rules that have been predefined by the organization—ultimately, it relies on people. The system can identify deviations from standards and offer tools for measuring data quality. But it is when the rules are established that the system truly helps deliver on your data strategy.
Where is data stored? Where does it flow? Who needs it? And who can change it?
Before anything else, you must apply data collection, classification, and quality control. Master Data Governance involves creating an agreed-upon terminology and specific metadata attributes. For instance, defining what constitutes a “customer” ensures a standard and consistent definition—a “Single View.” In this sense, your Master Data Management and data governance framework are interdependent.
contact us!
Looking for an experienced and knowledgeable partner? Reach out, and one of our MDM specialists will promptly assist you.