on 12-11-2007 6:52 AM
hi,
why do we require masterdata management?why is it necessary to keep all data masterdata ?
Hi Santhosh,
Master data is the core data of an enterprise that exists independently of specific business transactions and is referenced in business transactions. It builds the foundation for the smooth execution of business processes and well-informed business decisions. Master data represents business objects rather than business transactions and is rarely changed over a long period of time.
Companies have to be aware that there are several different views on master data. So within one company, the different areas create individual versions of a master data record and the trading partners along the value chain also introduce additional versions.
So the definition and handling of master data is a task of paramount importance for a company because:
● Master data is needed to make decisions on all company levels.
● Business processes throughout the entire company rely on master data.
● High-quality master data helps to improve the operational efficiency of a company.
● With high-quality master data, costs can be reduced. With a Global Spend Analysis you can negotiate better prices granted from the suppliers
This is why we need MDM.
Regards,
Sravan
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Hi Santosh ,
Refer the below links they can help you to understand the MDM importance in todays IT scenario
http://www.bitpipe.com/tlist/Master-Data-Management.html -- Under SAP.
http://events.techtarget.com/mdm-ent/?Offer=DMwn716mdm
http://viewer.bitpipe.com/viewer/viewDocument.do?accessId=6721869
http://searchdatamanagement.bitpipe.com/data/search?site=sdmgt&cr=bpres&cg=VENDOR&sp=site_abbrev%Asd...DataManagement
http://viewer.bitpipe.com/viewer/viewDocument.do?accessId=6721819
HOpe they may help you
Regards
Ankit
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Hi Santhosh,
We require MDM and master data because-
Master Data
�� Is the key entity to defining core business entities such
as customer, employee, location, product etc.
�� Is static, non-transactional, constant
�� Interacts with and is referenced by transactional data
�� Is highly shared across several applications
�� Has a definition independent of other data
(ASUG Influence council)
Master Data Management
�� Is the practice of defining and maintaining consistent
definitions of master data, then sharing them via
integration techniques across multiple IT systems
within an enterprise.
Regards
Richa
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Thanks Krutarth.
Regards. Vishnu
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Hi Krutarth,
Could you please forward those documents to my mail id, chanti_bap@yahoo.com
I am keen to learn/switch over to MDM.
Thanks in advance.
Regards.
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Could you share your mail ID then i can send a few documents regaring your concern.
Regards,
Krutarth
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Hi santhosh kumar ,
The following websites good PDF documents y we need 2 opt for masterdata management:
SAP Netweaver MDM Overview
MDm
SAP Netweaver MDM Overview
SAP NETWEAVER MDM Leverage MDM in ERP Environments - An Evolutionary Approach -
Master Data Management architecture patterns
http://www-128.ibm.com/developerworks/db2/library/techarticle/dm-0703sauter/
MDM and Enterprise SOA
http://www.saplounge.be/Files/media/pdf/Lagae---MDM-and-Enterprise-SOA2007.10.10.pdf
Effective Hierarchy Management Using SAP NetWeaver MDM for Retail
MDM World
MDM: Master Data for Global business
http://www.sitacorp.com/mdm.html
MDM Master Data Management Hub Architecture
Improve Efficiency and Data Governance with SAP NetWeaver MDM
http://www.sapnetweavermagazine.com/archive/Volume_03_(2007)/Issue_02_(Spring)/v3i2a12.cfm?session=
Data Modeling i MDM
SRM-MDM Catalog
http://help.sap.com/saphelp_srmmdm10/helpdata/en/44/ec6f42f6e341aae10000000a114a6b/frameset.htm
cheers!
gyanaraj
****Pls reward points if u find this helpful
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Hi Santosh,
You maintain data on business partners with whom your company has a business relationship in master records. Master records contain all data necessary for processing business transactions. This is known as master data.
So we don't maintain all data as master data....
Structure of master data represents how the system should perform in the future. It is a highest level of data and thus it has a largest effect on the standerd business process.
pls search on sdn. they have many good articles on why we need MDM...
cheers,
RC
Hope this will help you to understand better...
RC
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Dear Santosh,
Master data Management is required for following reasons
Awash In Data: Data is a companys lifeblood, flowing through all vital systems  marketing, sales, manufacturing, HR, finance and all points in between. Expensive ERP, SCM and CRM systems implemented over the past decade deliver value only when fueled by good, accurate, consistent data.
Database Debacles: Bad data is poison, clogging operations, increasing costs, prompting poor decisions
Data Disconnect: Enterprises have long struggled with creating, maintaining, integrating, and leveraging enterprise master data
Regulatory Compliance: Escalating regulatory compliance pressure is also a powerful driver for MDM
If you find helpful please reward points,
Vivek Maitra
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hi santhosh,
why do we require masterdata management?why is it necessary to keep all data masterdata ?
follow these points:
1. Is management of master data strategic to your enterprise?
Master data has always been high importance to organizations but many times people dont pay much attention to maintaining and managing master data properly. One need to ensure that management and maintenance of master data is not only of high importance to the enterprise but also strategic in terms of having reliable and accurate information management. Master data management strategy should encompass but not limited to achieving accurate and reliable master data, governance, maintaining quality of master data and ultimately achieving better results.
2. What is master data for your enterprise?
Generally, master data comprise of customer, supplier, product, employee, etc but is not limited to only these objects. For Oil and Gas industry, master data object can be oil well, while for food and drug industry it could be chemical composition. One need to define master data for the enterprise and should specify exclusively why.
3. Where and how master data is being used in your enterprise?
Once the definition of master data is clear, it is important to find out where and how master data is being used in the enterprise. One can not restrict its view to application only because sometimes use of master data could be beyond application boundaries.
E.g. product which may get originated in an application can be used in a marketing campaign and may have totally different attributes than application could have. This is very important exercise of overall MDM implementation because this will define characteristics of the master data object. Once all the attributes and characteristics of master object are clear, one can start linking them to software applications.
4. Do you have master data management processes?
Whenever this question gets asked, one responds back with return question do I need one? And answer is always yes. Many times people get confused between a process and a workflow. Every organization has processes and sure they have for master data management as well. Question needs to be asked around is current process to manage and maintain master data enough? Having well defined process - from creation of master data to its retirement through retention and maintenance over its lifecycle is very important and should be well thought of during MDM implementation.
5. How do you maintain master data quality in your organization?
What does it mean? We dont maintain it, our IT systems maintain quality of data this is the most common answer I had received so far. But, I must admit that some companies are ahead on this aspect than others and I realized, based on statistical data that was presented to me that enterprise needs to think of having processes and procedures to maintain data quality.
5. Have you implemented Master data governance?
Governance is a hot topic everywhere, from corporate governance to IT governance, it has taken important turn in the way we manage things. Having an authoritative body who defines policies and procedures, implementation of those policies and procedures and then monitoring them through out is a general purpose for governance. The same applies to master data management and it can be part of overall IT governance or information governance but one should thought about as overall MDM strategy.
6. What have IT done to maintain accuracy and reliability of master data?
There is no way in the world that IT has not done anything and left it to business users in heterogeneous IT environment. If you are big SAP shop then you are probably using ALE integration or XI to transfer master data across all instances. If your landscape is mix then you may either have custom solutions or EAI tools doing work for you. But, give a closer look at the question here and then try to find out what IT has done so far to ensure reliability and accuracy of master data. Answer most likely is going to be none just because there were not any sophisticated tools available until now to solve this problem.
7. How does SAP NetWeaver MDM fit into your new IT Architecture?
Yes, New Architecture is important here. If you and your IT are talking old way of point to point integrations, custom interfaces and not thinking of new ways of solving IT problems then stop. I think even before you start topic of MDM, you may want to focus on new IT architecture, which is more flexible and agile to adapt to new business requirements. Todays Services Oriented Architecture just talks about these benefits and one should think about introducing MDM in this new architecture. Master data is the foundation of business and master data management is the core of new architecture as well.
hope this may help you,
Regards,
srinivas
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Hi Santosh,
All mojer organization have many IT systems and all of them have master data.
The problem starts there as all have their own master data. Thus for organization it have diff master data for all systems which is not common and thus creates problem.
So benefits of keeping Master data in 1 place is
Conformance/Auditing
Single view of customer
Global data synchronization efforts
Accurate reporting
Consolidation after mergers and acquisitions
Reduced effort to consolidate information
Reduced cleansing/mapping of information
Increased efficiency
Reduced costs overall
Hope this helps,
+ An
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HI Santhosh,
Data is the food for any system to run and master data is the heart of that system.
Master data is that crucial information on which all your business process run.
If your master data is not in proper shape the analytics run on them will be incorrect as a result the business decisions taken will be wrong and this will result in a complete failure of your business.
There are many ERP systems existing today but very few provide an effective,systematic and fool proof method to preserve a single version of truth odf your master data.
SAP MDM address this problem and so is here today to bring all your master data under one roof.
Hope it helped
Regards
Simona
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Hi
With MDM you can leverage your existing landscape, lower your Total Cost of Ownership (TCO), and increase your Return on Investment (ROI) for the following reasons:
1.Clean, consolidated and consistent master data improves data quality and consistency across the enterprise.
2.A central or homogeneous system for master data management, maintenance and distribution reduces maintenance costs typically encountered with heterogeneous landscapes.
3. Systems are continuously synchronized making it easy to integrate your SAP and Non-SAP systems, which reduces costs associated with reporting or building new interfaces.
As companies grow and acquire other entities, MDM becomes the central point for managing, maintaining, and consolidating all master data across the enterprise.
Regards
Hari
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