What is collaborative master data management?
Collaborative Master Data Management (CMDM) is a data management tool that provides a cohesive platform for all of the data sources that an organization manages.
CMDM enables an organization to collect and organize master data and distribute it across various business processes and applications within its IT environment.
CMDM is mainly used for maintaining and orchestrating master data that is retrieved and integrated from various data sources. Typically, a CMDM solution consists of a master data server, data integrators and adapters.
CMDM helps with:
- Removal of data redundancies
- Clean up irrelevant data
- Reduction of the IT infrastructure
- Reduce maintenance costs
It ensures that the data is consistent, up-to-date and available to all end users and applications. CMDM also provides a central interface for collaboration, maintenance and sharing of data blocks in related applications and processes.