Managing tremendous quantities of data requires a platform fit for the job. Data is often referred to as the new oil of the digital economy. The comparison may not be true in all respects, but it's quite useful when illustrating two essential points: data is valuable, but must first be collected and processed before it can be used. Many companies are currently confronted with these massive tasks on their way to digitization. And it's not just about big data; it's about how fast and in which quality basic information such as customer data, material data, and article data are available. That means master data maintenance or master data management (MDM). Characteristic of master data is that this information remains unchanged over a long period of time and is used as a valid version or "golden record" in several transactions made from multiple locations. In times of digitalization, master data in companies should meet two requirements. They should be...
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