What is data management?

Talent Base IT consultants can help you to take full advantage of one of your company’s most valuable assets: data. Most organizations have a large amount of data at their disposal, but the data quality is often poor. Poor data quality can lead to several problems including:

• Deliveries do not reach customers due to inaccurate delivery information
• The same marketing messages may be sent to the same customer several times
• Credit limit control becomes impossible to implement due to duplicated customer records
• Inventory management is inefficient due to duplicated product data
• CRM and financial systems cannot be integrated due to differences in customer data

Data management is the set of processes and tools that consistently define and manage the non-transactional data entities of an organization. Data management improves your data quality by providing processes for collecting, aggregating, matching, consolidating, quality-assuring, persisting and distributing data.

Master data is a key concept in data management. Master data is the official consistent set of identifiers, extended attributes and hierarchies of the enterprise and includes a set of core entities such as:

• Parties (customers, prospects, people, consumers, employees, vendors, suppliers and trading partners)
• Places (locations, offices, regional alignments and geographies)
• Things (accounts, assets, products, software and services)

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