Originally published on Hub Designs Magazine May 2012
Over the last few years, Master Data has been recognized as one of the most important types of business information to be managed. Organizations are heading in the right direction by implementing Master Data Management (MDM) systems to take control of critical data like customers, products, employees, suppliers, materials, locations, etc.
Master Data Management system delivers consolidated, complete and accurate view of business critical master information to all the operational and analytical systems across the enterprise. There have been numerous blogs, articles and whitepapers about how MDM helps organizations achieve business value, different approaches companies take to implement MDM and best practices followed.
In this blog post, I am trying to list down some of the important features the Master Data Management product (or the MDM solution in general) should have so that the organizations implementing MDM can realize maximum benefit from the initiative in a short duration of time.
Service-oriented architecture (SOA) allows an application’s business logic or individual functions to be modularized and presented as services for consumer/client applications. The key nature of SOA based application is that these services are loosely coupled; i.e., the service interface is independent of the implementation. Application developers or system integrators can build applications by composing one or more services without knowing the services’ underlying implementations.
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