Master data management and data management are two terms that people often use interchangeably. But consultant Sam Ovens says that this is wrong because they are two distinct fields. Getting it wrong can mean not having an effective strategy for dealing with data within your business. This guide is going to reveal exactly what these two fields are and the main differences between them.
What is Data Management?
Someone within the field of data management will concern themselves with every aspect of managing data within a company. They will involve themselves in design, storage, analysis, and the constant improvement of the data management best practices within their organization. It’s an extremely broad subject to tackle because it includes everything from data integration to data security, and everything in between. There are so many areas of data management that professionals often specialize in specific areas, such as data warehousing or data architecture. Larger companies rely on whole teams of data management experts to adequately cover everything.
So What is Master Data Management?
Master data management, often abbreviated as MDM, is just a single area of an organization’s data management program. The concept behind it is to manage global data surrounding primary objects. In plain English, this could involve managing customer information, buildings, or the contacts of a company. This is why master data management is so important in this day and age.
Why Does a Master Data Management Professional Differ?
All master data management best practices will have guidance on how to manage the ‘master’ row of data. It’s considered to be the most complex area of data management because these professionals are managing the master copies of important customer, client, and employee data. Much of their work involves removing errors and duplicated systems. In many ways, their work can also be closely linked with data security and the data architecture of their organization. It’s a much more in-depth form of data management, according to Sam. He says that if mistakes are made at the master data management level it can completely ruin a company’s systems.
Why Does Every Company Need a Master Data Management Expert?
With all the cyber attacks against companies, the main reason to have a master data management expert is protection. By ensuring data efficiency and, by implication, data security, you’re better protected against attacks. Business owners can have better control over their data and ensure that they’re more efficient at what they do. In 2019 you should consider a master data management professional to be an essential part of your company.
Last Word – The Important Distinction
Despite their similar names, data management and master data management are two separate fields. Yes, there are areas where they interlink, but a data management professional cannot do the work of a master data management professional, and vice-versa. We recommend reading The Data Management Book of Knowledge (DMBOK) if you want to find out more about both these subjects, as it’s the undisputed authority on the subject.
Did you know the difference between these two fields?
Author Bio: Douglas Pitassi is a small business blogger and freelance writer.