Managing the catalog for an eCommerce site is hard enough, but when you have a database―which receives data from multiple sources—it is easy to have duplicates without even knowing it. This makes things hard to find and is very confusing for customers. The best way to solve this issue is to move to a Master Data Management philosophy. By standardizing the item names and consolidating the item descriptions, you create a catalog that is more understandable and easier to search. Here are some of the benefits of creating a database using Master Data Management.
Increases reporting accuracy
Improves data usability
Simplifies design by standardizing data validation
Provides trustworthy data
Eliminates data inconsistency and improves accuracy and consistency
Improves data sharing
Enables consistent interactions between systems
Increases the quality and reliability of data
Provides clean data for the system
Establishes an authoritative source of information
The benefits of Master Data Management focus on either improved data quality or improvements in data governance. The major outcome of implementing a Master Data Management system is providing a unified view of all catalog items and streamlining the provision of high quality, consistent, and synchronized data. These good data management practices lead to operational efficiency improvements as well as enhanced search engine performance, reliable reporting, and an overall reduced item count.
The primary benefit of a Master Data Management system is establishing good data management practices, which improve operational efficiency. It is definitely something to think about if you are managing a large database that receives data from multiple sources.