At the apex of data integration software is Master Data Management. The MDM system reconciles (matches, standardizes, and consolidates) new input data with its current master reference data, and then stores the master repository in a data model flexible enough to support multiple hierarchies.
For EIS, MDM is much more than technology, as it encompasses policies, practices, and systems that create an infrastructure for collecting, storing, and managing master reference data.
An MDM system offers great advantages. It not only serves as the system of record for customer or product data, collecting and consolidating it from all reaches of the enterprise, including multiple data warehouses, but it also allows the data stewards to design and create data models that roll up to hierarchies that can be adjusted at will for a specific view. These views, or context-sensitive hierarchies, can be saved and used by different corporate functions as their own operations dictate. Marketing, sales, and manufacturing can all view the product hierarchy—from suppliers to chemical composition to distribution channel—as needed. Then, when a hierarchy is placed “in production,” the master data can be published to subscribing applications, where it is either pushed or pulled out to downstream operations.
EIS has helped organizations create master data for Customer, Supplier, Product, Finanicial and Business Hierachies thus helping to create a single version of truth. This also creates opportunities for "Cross Selling" and "Upselling" showing a direct impact on revenues.
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