MASTER DATA MANAGEMENT
Before delving into Master Data Management, let’s just take a while to quickly understand what Master Data is and how one can Manage Master Data along with the benefits being offered by Master Data Management.
What is Master Data?
Master Data is a set of data points which provides the context about the business data which could be Campus, Course, Specialisations, Nationality, Gender etc. which are being furnished by the Applicants either while raising an Enquiry or during Account Creation or filling in the Application Form(s) or furnished by Institutes users via Data points for Official Use.
As an example, let's say an Institute wants the Applicants to furnish information about their Permanent Address. This may include details like Address, Country, State and City. This information could be asked at the time of Account Creation as well as in Application Form(s) hosted by the Institute. So what the Institute could do is define a Master Data for Country, State and City and associate it in all forms where the Applicant is supposed to furnish this information.
What is Master Data Management?
Think about the below cases and see if you have come across similar cases ever
- You have been offering a course e.g. B.Tech Computer Science Engineering and you wish to rename it to B.Tech CSE OR
- You would like to receive Applications for B.Tech CSE till a certain Date OR
- You might received enough Applications for B.Tech CSE and would like to close the Applications for the same OR
- You have recently launched a new course and want to receive applications for the same now on
If you have encountered any of the above cases, then Master Data Management is the solution for you.
So, what all does Master Data Management allows you to do?
- Create a Master Data say Course and define its values e.g. B.Tech, BBA, M.Tech, MBA, Phd
- Activate or Deactivate the Master Data or some of its Values
- Associate the Master data to different locations or forms (Enquiry, Registration, Application Forms, ScoreCard etc.)
- Show or Hide Master Data or its Values from one or more locations now or at specific Date and Time
- Rename Master Data or its Values
- Add more Values under a Master Data one by one or in Bulk
Why Master Data Management?
Well Master Data Management provides multitude of benefits ranging from the ones below
- Managing and Maintaining your Business Data
- Ensuring Data Sanctity (Create once and use it at multiple locations)
- Handling of Data Updations as deemed necessary
- Data Consistency
- Checking data duplicity