Quality and consistency of master data, as well as efficient data generation and modification plus easy reuse of data are the foundation of a stable business. At the same time, consistent and high-quality master data build the company-specific data backbone which is required for the implementation of innovative digitalization strategies, such as for autonomous production.
The transparency and high degree of standardization you require to handle your master data often conflicts with the flexibility you need to take care of your day-to-day business. Master data governance is often locally organized, isolated and lacking in procedural orchestration. This prevents effective traceability of master data movement. Without sufficient information on the status and maturity level of your data, thorough root cause analysis cannoct be conducted and the transference of data to downstream processes is hampered. Therefore, process-based master data governance is the key to increasing efficiency, reducing risks and cutting costs.
