Master Data Services (MDS) is the solution created by Microsoft for the purposes of managing master data. Managing master data is an issue that many database administrators had trouble with in the past, but through MDS, many of these problems have been alleviated.
Master Data Management
Managing master data entails the management of organizational data that doesn’t involve transactions. While “data” is an ambiguous term that can range from business to business, it can at the very least be defined as important information pertaining to business processes. The main purpose for managing master data is to manage the relationships between transactions that takes place between static transactions between a company and an individual. This is because the details of the initial transaction will never change.
Data gradually becomes more important when it is required more. With proper management, potential discrepancies in the data can be identified, which can cause business operations to run more efficiently.
What you should know is that there is 3 main components of master data management. It includes the specific business policies, the technological means by which these processes are facilitated and those processes themselves. All companies should have some form of management by its very definition.
Why Is Master Data Management Important?
The reason why managing master data is important is because most essential business operations depend on it. Customer engagement efforts and supply chain management all depend on proper management. Unfortunately for most businesses, they are not able to have a clear, singular view of their customer base. One of the most common reasons for this is due to the fact that the data differs across different systems.
With master data management, businesses can obtain that important singular view through the consolidation of data into one, standard format. This data is then unified so that it can be used across numerous systems. For businesses, this means that they will be able to eliminate duplicate records without having to perform the tedious task of putting in different entries.
What Microsoft Master Data Services Does
In terms of what Microsoft Master Data Services specifically provides, it enables the ability to manage an organization’s data in a master set. More specifically, it can help organize the data into specific models and allow you to curate new rules in regards for updating the data and who is able to control it. Usually, the most popular method of sharing master data is through Microsoft Excel.
If MDS is properly maintained, then organizations will have a very powerful method of centralizing databases to prevent data from either becoming inconsistent or getting out of sync. MDS can also help reliably manage data flow in corporate IT systems.
Components
One essential component of MDS include the Configuration Manager. This is a starting point for MDS, as it is commonly used to configure the Master Data management (MDM) database. With the Configuration Manager, a web application called Master Data Manager can also be created. By doing so, the web application and database can be intertwined together, and this creates an MDM solution.
Another components of MDS include the web service that developers can utilize in order to form custom-made solutions.
Overview
Most businesses should be able to integrate a MDS solution into their operations with the right training, and it can be used to manage a domain of any origin. Thankfully, MDS solutions are not specific to a certain list of customers, accounts or products. When first installed, you will have the power to define the domains that you may require, and this is done by creating models for them.
There are other MDS features that can benefit any business. This includes transactions, business rules, data versioning and security
