Master Data Management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file called a Master File that provides a common point of reference. When properly done, MDM streamlines data sharing among personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platforms and applications. The benefits of the MDM paradigm increase as the number and diversity of organizational departments, job roles and computing applications expand. For this reason, MDM is more likely to be of value to large or complex enterprises than to small/medium-sized entities or simple ones. When companies merge, the implementation of MDM can minimize confusion and optimize the efficiency of the new, larger organization.
Ferret Master Data Manager consolidates master data across the enterprise and helps distribute this master information to all operational applications. It drives results by empowering enterprises and their users to clean and manage the quality and life cycle of master data. The Master Data Manager works closely with your applications to display key business data encompassing multiple domains ranging from Supplier to Site, Customer, Account, Asset, and Product among others.