Master Data Management
Without Master Data Management (MDM) in place, organizations could be subject to data integrity lapses, lost revenue or worse. Picturepark can help you start with MDM in a manageable and affordable way.
Master Data Management describes using a central system as the single source of truth for managing critical data that is made available to other systems, providing a complete, current and accurate view of that data at any point in time.
Picturepark used for MDM
Master data management (MDM) comprises the processes, governance, policies, standards and tools that consistently define and manage the critical data of an organization to provide a single point of reference.Wikipedia
The Picturepark Content Platform enables organizations to start or maintain sustainable Master Data Management initiatives because it provides the key components that make master data management work:
- Flexible capabilities for managing virtually any content in a structured way
- Multi-dimensional categorization and semantic relationships
- API-first design for facilitating access to and from other systems
Thanks to support for multiple data types and the possibility to build semantic relationships between content items, the Picturepark Content Platform works well as a master database of record for many types of information. Some examples of common master data for businesses include:
- Product data: Information about products and their relationships
- Taxonomies: Corporate glossaries, abbreviations, product categories
- Partner directories: Definitions and status of partners
- Text libraries: Disclaimers, boilerplates, official statements
- Organizational details: Office locations, roles, committee definitions
- Program definitions and corporate policies
Categorization options in Picturepark range from simple keyword tagging to hierarchical taxonomies and multidimensional ontologies. Your existing information can be accurately represented in Picturepark.
Working with other Systems
The “API-first” architecture of the Content Platform ensures that all data managed within Picturepark can get where it needs to be, with minimal development effort.
Whether the data must be “pushed” to downstream systems, or “pulled” by those systems directly from Picturepark, all options are available.
Whether you already have an enterprise-wide MDM system or multiple decentralized repositories in place for certain master data only, you can connect it with the Picturepark Content Platform for making use of its complementary capabilities such as managing file-based and file-less content, tagging your data using Adaptive Metadata™ or connecting data through Semantic Relationships.
Using Picturepark for routing master data, you can inventorize content from existing master data repositories, leverage it by making data available to many other systems and users, and have the Picturepark Content Platform act as your single global reference system for master data.
A safe choice
Master Data Management might not yet be in your scope, but it is a requirement that is best handled sooner than later. When you start with the Picturepark Content Platform, you get all the essentials to build and maintain a MDM initiative that works for you today and tomorrow, as a standalone system or part of a larger solution.
The concept seems obvious, but in many situations, data such as product information, company and partner certifications, corporate taxonomies, programs and policy definitions are managed in more than one system. This happens mostly because systems are not connected, or one business unit hasn’t coordinated efforts with another, or through a general lack of awareness. The problem is widespread across most businesses.
Without a single source of truth for these (and other) information examples, conflicting content can be distributed, employees, partners and customers can become confused, and important updates might not arrive at all distribution points.
Master Data Management aims to solve these problems by policy, information architecture and systems, ensuring that only one source ever needs updating, because all systems and users that rely on that data get it from there.