Master Data Management (MDM) Mastering the Information Ocean

| Point of View

Mastery of information gives business control

In the modern business, the volume of information is increasing and the value of that information is becoming ever more critical to the business’s success. The reality though is that over 80% of companies are relying on inaccurate management reports and that most organizations find themselves drowning in data. Although there are a large number of different challenges in turning data into information, there is one common element which drives problems in one third of customer service interactions, 30% of brokerage transactions and which drives up to $50bn in costs within the US retail supply chain alone – poor Master Data Management.