Master Data Management

Master Data Management (MDM) is a comprehensive approach and set of practices for managing and governing an organization's critical data assets in a unified and consistent manner. MDM is designed to ensure that essential data elements, often referred to as "master data," are accurate, complete, and reliable across the entire organization.

This competency area includes an understanding of the concepts of Data Analysis, Data Governance, Data Quality Management, Data Integration, Data Modeling, Data Tools, Change Management,  Data Security and Compliance, and Project Management.

Key Competencies:
 

1. Data Analysis -  Knowledge of data analysis to identify data quality issues, inconsistencies, and patterns within master data.

2. Data Governance -  Understanding the principles and practices of data governance, data stewardship, data ownership, and compliance.

3. Data Quality Management -  Ability to establish and maintain data quality standards, data cleansing processes, and data quality rules.

4. Data Integration - Knowledge of data integration techniques to consolidate and harmonize master data from various sources.

5. Data Modeling - Knowledge of data modeling to design and structure master data entities, attributes, and relationships.

6. Data Tools -  Knowledge in data management tools and platforms, including MDM software solutions.

7. Change Management -  Ability to manage changes in master data due to evolving business needs and system updates.

8. Data Security and Compliance -  Knowledge of data security measures and compliance with data protection regulations.

9. Project Management -  Skills in project management to plan and execute MDM initiatives effectively.