Master Data Best Practices: Why Data You Don’t Trust Is Not Really Data

While good data can be your most strategic asset, bad data can be catastrophic. Research has found that 84% of CEOs are concerned about the integrity of the data, while 91% of organizations have not reached “transformational” levels of maturity in data and analytics. Data you don’t trust is not really data. Dirty data can result in costly errors in material procurement, poor maintenance management, and excess inventory carrying costs. Master data, such as functional location and equipment data, is the foundation for every enterprise resource planning (ERP) system like SAP. And it is the framework organizations use to build out their asset management strategy. During the initial implementation of the ERP, enterprise asset management (EAM), or computerized maintenance management system (CMMS), organizations go to great lengths to create and organize their master data to ensure accuracy for maximum effectiveness. However, many companies struggle with standardization and don’t have a sustainable master data program. In this webinar, you’ll learn: • Best practices for master data • Why the accuracy of master data makes maintenance management run smoothly. • How master data-as-a-service (MDaaS) eliminates traditional master data challenges.