What is master data management(MDM) | mdm architecture & products (2022)
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- čas přidán 2. 06. 2024
- What is master data management (MDM) ? | architecture & products (2022)
#mdm #masterdatamanagement #data
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Hi Friends, I am Anshul Tiwari 👨🏫, and welcome to your youtube channel "IT k Funde" where we make I.T. interesting for everyone (Tech or No-Tech).
Master Data Management or MDM is one of the core principles of Data Architecture and governance. Without MDM we will not have a clue about where and how our key enterprise (master) data is present and maintained.
This video discusses the core principles, architecture and features of master data management (mdm). I have also shared a personal story that highlights the importance of using master data management in an organization.
We will also discuss 4 mdm products present in the market today.
I hope after watching this video you will have a fair understanding of what is master data management and why its is some important for any enterprise organization.
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Great video, thanks a lot, you explained it so well. Here is a quick note for the video:
1. Let’s consider an example:
Customer A bought some product P at Store S at 10:00 am, May 1st, 2023 with Price p and equal to USD p’
2. There are different kinds of data in the above example:
Enterprise Data (Master Data): Customer, Product, Store
Transaction Data: time, price
Ref Data: Currency conversion rate
3. Enterprise should keep Master Data, so every department and every team may refer to the ultimate TRUTH
4. Example: Some bank called me to offer me a credit card, but I already have a credit card from that bank. It’s very possible that the Customer Service department and Marketing department doesn’t share databases, and they refer to the same entity (which is me) differently in different databases.
5. Maintain an MDM Hub (Golden Copy) in your enterprise:
1. Master Data
1. Examples: Customer, Employee, Product, Vendor, Store, Location
2. Hierachies
3. Business Rules
4. Ref. Data
6. MDM should be owned by Business, instead of IT
7. Business Drivers
1. better customer experiences
2. Analytics
3. Gov & Compliance
4. M&A
5. Ops Efficiency
Can you send this on email pls anshultiwari353@gmail.com
Bro, you are an excellent guru in explaining the process which I thought as rocket 🚀 science. Kudos👌👌
Fantastic. Your clarity and enthusiasm made this complex topic a breeze to grasp. Your passion for the subject really shines through, and it's evident that you've put a lot of effort into making this content accessible. Keep up the excellent work! Looking forward to more insightful videos from you.
A wonderful video. Kudos to the team for making such a simple yet informative video on MDM
Awesome man .. You made me super sharp in MDM
Like the way you explain, thanks!! Do more on Data and Technology
at start of your class am like zero at end feels good like a hero ...
Thank you for explaining the new and insightful topic.
Hello, thank you for the broad picture. This is so rich. Please could you give an explanation or a video of what a work day for an MDM BUSINESS ANALYST LOOKS LIKE?
Very informative video. I am starting a new project cleaning data with SAP s4/hana and needed a quick overview of the concept.
Well done!! Easy to understand and makes sense
Great explanation .. Thank you
Great Job Done!
Great explanation. Thanks
great video and as a MDM myself, duplicates in any larger organization is a major issue. they are inevidable as we have all this different ways to name a business, hell mayne the business wants to call themselves a bit different, without officially registering to it. that we have same customer in 3 different names done by businesss into the system.
Now put projects to all of those different customers and times it by thousand customers, that is a big mess and now the whole Finance department gotta do investigative work and at least twice the work due to entries in the system under different names.
Biggest task as MDM is to verify that this customer exist, it is a real company, no immediate red flags for the business, under what official name, and using all the compliances and regulations at the same time.
An excellent way to explain about MDM. amazing.
It's a really nice video, really recommend it.
After I watched this, i got a A* on my assignment.
Thanks, A LOT!
😀
Excellent!! Thanks
Thank you Anshul Sir, will you please make more videos on MDM in detail explaining architecture. It will be of great help to us.
you explained in a very crisp manner and connected all the dots in between in relating the techno-functional and business requirements 👌
Thanks Vinay 🙏
nicely explained.. thnx
Hello Anshul Sir, I request you to please make a video series on AWS or else on any specific topic of AWS, Thanks
Great learnings...in minimum time
This is very well explained.
Thanks so much ❤
Very well explained, Sir !
well Explained ..with practical stuff..so trumps.up
To be fair when you said you would give an real time example I thought you would give an example of how you implemented in your project ... these kinds of call getting from Banks for credit card is very common
so simple explanation .. easy to understand
Great video. Thank yoiu
Great and crisp and clear Explanation never gone so deep understanding MDM , you made it very clear , Hats off Anshul now i became a huge fan of you , Thanks a lot for sharing such a useful Information in a simple understandable way !!
Thanks Rakesh ☺️☺️🙏🙏♥️
You know mdm java properly?
thank you for the information
Well explained 👍
very helpful.
Insightful breakdown! MDM's pivotal role in data governance and integrity shines through your clear explanation.
good explanation. helpful
explained pretty well.
Thank you for the video and very informative
Great👍
Nice explanation with examples to help us understand MDM concepts better. Thank you.
Thanks Prasad
@@ITkFunde Sir i need more videos on MDM.
Amazing explaination... clear and crisp
Thanks
Very nice explain
Nice explanation! Thank you
Thanks Rupesh
Nice information brother, love it.
Thanks alot!
Thanks bro
Very well explained, thank you
thanks
Thanks my friend from Panama
wonderful video
This is really good. Just stumbled on your channel… i am a layman in this field and you explained it very well. Do u have videos on reference data management as well ? Trying to understand that
Not exactly but I am sure you will find somengood stuff on other channels
Do you understand telcom mediation and rating stuff?
Looking for a high level understanding on that topic
very good expl
Great effort you spoke all the things which I am struggling to understand Thank you so much for making it so easy to understand the topic and definitely this is an exceptional video for anyone who is trying to know about MDM no doubt on this.
Thanks Rashmi 🙏☺️
loved it
Hello, thank you for the broad picture. This is so rich. Please could you give the answer for this statement "Is big data governance important at the initiation stage of a data governance program? Provide your reasoning
excellent
hi.. you mentioned TII or PII data? what is it ?
Thanks for the high level explanation. Do you also provide the concrete solution like how to get the business process in place? I am looking for the solution which would help in building up the strategy for MDM in my company.
HI Isha, I am not an expert on MDM and this video was made only to give an overview as a lot of viewers asked for it. But still if you have any specific query feel free to mail me and I will try to find some answers for you
Very good explanation
❤️❤️🙏🙏
Great explanation...is there a continuation to this? I'm currently architecting a MDM solution on Azure so would be really helpful for any pointers..thanks
Does it need coding skills ?
which tool are you using for it, also does azure provide any specific service in built for mdm?
Precise & to the point
I think you forgot to mention the leader in MDM space, Reltio 😊
thanks for the video ,what kind of tool we need to learn to get the job in MDM
What is the future of MDM tools like Riversand ? any idea
Is it worth learning Reltio tool for MDM?
In Analytics we need to keep version of data changes also.. like all the lifecycle of changes of customer data might be phone number/address ( i mean SCDType 2) is MDM maintains that?
👌👌👌
Hi , can we have the software to learn mdm practically
Does it required coding knowledge ?
It was a good explanation however there you have fumbled with his to her, at around 6:05 to 06:16.
You’re a champ brother!
Nice, good explanation. I have a question, would it be correct to have several catalogs of clients with different perspectives within data management? For example, within the banking context, a fiduciary client and a business credit client? Would it be correct to have two catalogs, or would it be better to have flags within the same catalog? Thank you very much for your answer.
Thanks Mynor good qs, well it all depends on how as a company you look to maintain your master data. I believe customer records should be treated as single master data with flags to highlight different domains or catalogs
@@ITkFunde Again, thank you for your answer!
flags or maybe another entity to store the relationship(s)
Do we need coding skills for MDM?
what does snowflake data engineer do? can you create a vedio on this
Is mdm another module like sd,mm
What is part of customer MDM
Plz reply me sir
Is price master data or reference data? Should it be part of mdm
Great Qs Manjeera - while price can be managed as master data in industries with relatively stable pricing structures like retail and manufacturing, it is often treated as transactional data in industries with rapidly changing prices like airlines, stock markets, and commodities trading
I thought MDM is mobile device management? which one is really correct
good evening sir. recently i have joined in ibm . the domain allocated to me is "Master Data Management ". Is it good to continue in this domain. all of my friends got RDBMS domain. I am new to MDM domain . i am very scared of it. is it good domain..
@YATA YAMUNA
@MDM have good carrier growth ?
yes
I want stibo mdm interview
Cam sap mm consultant do work in MDM
How to evaluate MDM Products for your Organization
czcams.com/video/zh3iXnS3FBI/video.html
Does it required coding knowledge ?
No necessarily but data engineerig now is heavily code focussed so would be good tonhave the skill.