Master Data Management (MDM) is all about creating a single source of valuable data which is used by the different departments across the enterprise. This type of data helps in addressing the data challenges and provides your business with a plethora of business benefits and competitive advantage.
Undoubtedly, Metadata is one of the critical elements that enable maintaining the value of the enterprise data. Metadata is generated from time to time collected from the source and provides the means not only in identifying but also for defining and classifying the data.
In the Era of Digital Transformation, manufacturing business systems, production units, supply chains, the Internet of Things, and Robotics to just name a few tend to generate real-time data of high importance.
Henry is an Investment Banker in Canada for a decade. All his present & future decisions on the investments are now based on the data which might be collected from many sources, following many processes and procedures. As an Investment Banker, he might be using past, present data to ascertain his future investments.
In every second huge amount of data is generated from a plethora of sources globally. There is a greater need for the enterprises, on their journey towards Digital Transformation to establish a common understanding, common terminology, and consistent view of the data.