Companies currently understand that smart business decisions depend on clean data that can be relied on and remain consistent. However, a common struggle most of them must contend with is the ever-plaguing problem of rogue data, duplicate data, or even old data in their Master Data Management (MDM) systems. This is a widespread issue that can defeat the entire essence of an MDM implementation, which endangers the provision of proper insight and functional activities.
It can be solved through the introduction of effective strategies and the use of the latest tools. Yet, PiLog Group is one of the world leaders in this area as it allows enterprises to turn their low-quality data into a powerful strategic asset. As well as managing your data, PiLog uses ISO-compliant frameworks, domain-specific taxonomies, and automated deployment of AI tools to govern and enrich your data and prepare it to meet future requirements.
Interestingly, MDM systems are financial instruments that are developed with the basic aim of centralization and balancing of key corporate information (including customers, providers, products, and assets). Nevertheless, availability of incorrect data like redundant files, irregularities, lack of values, and expired entries may go ahead to abuse the system quite drastically.
Inaccurate reporting and analytics occur because of biased data, which misguide strategic moves.
Poor personalization, improper contact and, eventually, customer dissatisfaction may emerge due to inconsistent customer information.
When data is erroneous or incomplete, organizations are exposed to the consequences of noncompliance with regulation and receiving penalties.
When bad data destroys good data, highly costly resources are consumed when performing manual data cleansing, error identification and re-work.
Lack of a single trusted source of truth makes business leaders make decisions using unreliable information; so, they end up missing opportunities and making expensive mistakes.
In turn, investment in high-quality data is a growth driver and an efficiency generator. It is the force that leads to automation, quickens digital transformation efforts, enhances compliance stance, and increases customer trust and loyalty notably.
Achieving superior data quality within MDM is an ongoing journey that requires a multi-faceted approach. Here are seven critical strategies, bolstered by PiLog Group's expertise, to help you achieve data excellence:
The essential way of achieving better data quality is defining some consistent data standards, definitions, and naming conventions. This includes taking critical decisions regarding such issues as:
PiLog Group is the leader in this field, and the long history of ISO-based data quality ISO 8000 (data quality), ISO 14224 (reliability and maintenance data) and ISO 5500 (asset management) expertise gives them the advanced with completely data quality-compliant shareholders, suppliers and regulatory authorities. These structures equip enterprises with a solid template that is in line with the best practices internationally in data formatting, structure and accurate asset identification so that the data rules are understood and implemented on an organizational level.
Traditional manual data cleaning processes are not only time-consuming but also highly susceptible to human error. Modern organizations must embrace AI and Machine Learning (ML)-powered tools to automate and enhance data cleansing at scale. These intelligent solutions can automatically:
PiLog’s AI Lensand Data Quality Governance Suite exemplify this power. They harness advanced machine learning algorithms to automate these complex tasks, significantly reducing the time and improving the accuracy of master data enrichment, ultimately leading to a more reliable dataset.
You cannot improve what you don't measure. Establishing clear data quality metrics and Key Performance Indicators (KPIs) is essential for continuously monitoring the health and integrity of your MDM system. Key KPIs to track include:
PiLog’s platform offers real-time dashboards and customizable reports that provide a comprehensive, transparent view of your data quality status, highlight trends, and pinpoint anomalies. This enables faster corrective actions and a proactive approach to maintaining data integrity.
Data quality management is a joint venture and not the role of the IT department, but rather business users need to play an active role. The appointment of a specific data steward will allow data owners to be held accountable and facilitate a review, validation, and amendment of data entries at the source.
PiLog facilitates sound role-based access policies and smooth workflows, so data stewards in various departments can play fundamental roles without compromising data governance as a whole. Their applications have also included mandatory workflows, approvals, and escalations, and full audit trails to permit transparency and accountability in any change of data.
Inconsistent data and isolated systems are a key factor of such conflicting data. An effective MDM system should also be able to integrate itself in seamless and real-time manner with other important enterprise systems such as ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), SCM (Supply Chain Management), and other external databases.
The solutions of PiLog are platform-agnostic, that is, with few efforts they can be seamlessly integrated with the most popular systems such as SAP and with other enterprise platforms. Such smooth availability of same master data to the entire organization removes data inconsistencies and gives a common picture of vital business information.
Even the most spotless data set can stumble on its own because there is new data, changes in the system, or simply human mistakes. Organizations should carry out routine data audits to monitor and keep track of data quality on an ongoing basis, purge records which are outdated and get data up to date.
PiLog provides auto data profiling and auto audits which can be scheduled to run at a fixed time. This pre-emptive scanning identifies decayed or inconsistent data before it can have a bad impact on business results, moving from reactive clean up into a preemptive governance model.
Optimizing the quality of data does not become the mandate of the IT department; all stakeholders are expected to be involved in assessing the quality of the data and as well understand. Your team should be thoroughly trained on the value of clean data, what could happen when they enter bad data, and how they can make the MDM tools work. Doing proper training is not optional, or you will end up paying the price later.
PiLog Group provides enterprise-wide onboarding and training resources as well as follow up support services to companies that adopt their MDM and data governance packages. Their customer-centric philosophy is pro-mass and pro-long-term success and makes your team into heroes of quality data.
After more than 20 years in international business, PiLog Group has enabled organizations of diverse industries to realize the complete potential of the data by providing end-to-end Master Data Management (MDM) and data management solutions that are fully integrated.
The tangible benefits of partnering with PiLog are evident in the success stories of their diverse clientele:
A major oil & gas firm achieved a remarkable 62% reduction in duplicate materials, resulting in annual procurement savings exceeding $5 million.
A global manufacturing company dramatically improved vendor master data completeness from 70% to 98%, significantly accelerating vendor onboarding and mitigating compliance risks.
A leading telecom enterprise successfully achieved real-time synchronization of customer master data across their CRM and billing systems, thanks to PiLog’s SAP-certified MDM connector.
Improving data quality within your MDM system is not a one-time project, but rather a continuous journey that requires sustained effort and commitment. However, by embracing the right technology, empowering your people, and optimizing your processes, businesses can unlock tremendous, transformative value from their master data.
Partnering with PiLog Group ensures you are not only investing in world-class tools but also gaining access to a dedicated team of data governance experts who possess a deep understanding of your industry and unique challenges.
If your organization is ready to elevate its data from a mere collection of facts to a strategic powerhouse, the first step is to assess your current data quality maturity. Let PiLog Group guide you on the path to data excellence and empower your business with reliable, high-quality information.
