Lesley Gore sang about an unhappy party in her 1965 hit – “It’s my party.”
From a master data perspective, party data is data about people (or parties). Party data is the route of much unhappiness for many companies!
Party data can be categorized into simple types (or domains): Customer, Patient, Broker, Employee, Supplier, etc. For this reason, historical master data management tools have delivered solutions for one of these types – a customer master, an employee master, and so on.
The problem is that these domains don’t reflect how the business works very well. [Tweet this]
A party can be both a customer and a patient, or an employee and a supplier.
Multi-domain master data management and data quality solutions look at the party across all these categories – allowing your MDM solution to model your business and support cross-category business processes. MDM should be about improving business efficiency – not about a theoretical model. Lock in to a single domain solution can become very expensive.
Don’t cry about your Party data – consider multi-domain MDM and data quality from day one. [Tweet this]
If you have time, enjoy the video – It’s an oldie and a goodie.
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