How to Make a Career Out of Master Data Management

Jan 19, 2021 by

In today’s digital world, data and analytics have become central to the success of businesses across a wide variety of industries. As the need for information has grown, it is increasingly critical for businesses to have access to consistent, high-quality data assets. As a result, master data management (MDM) is required to ensure that the data companies collect and analyze is consistent, accurate, and controlled. Overseeing customer relationship management (CRM), supply chain management (SCM), and compliance all rely on quality data. These tasks rely on an integrated, single view of quality data to be successful. This is where the critical need for MDM comes in.

A career in master data management provides the possibility of working across multiple industries. Opportunities are available in small firms, evolving companies, and top global brands, using cutting edge MDM tools and related technologies. Aside from being an exciting opportunity in the evolving world of big data administration, it is also a career path that offers long-term stability. MDM has been emerging as an essential piece of business operations since its inception around twenty years ago. Since then, the demand for data professionals such as solution consultants, project managers, and solution architects has boomed. Let’s take a look at how you can make a career out of master data management.

What is master data management?

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As discussed, master data management has become the centerpiece of successful business operations. A robust MDM implementation allows an organization to hone its business processes and strategies. So, what is MDM? MDM is a technology-enabled system that brings together business and IT practices to create uniformity, accuracy, and accountability of a company’s shared master data assets. Master data is the consistent and uniform set of information and characteristics that describes the entities of an enterprise that includes customers, prospects, citizens, suppliers, sites, hierarchies, and chart of accounts. Simply put, MDM involves building a single master record for all essential business data from all data sources and applications. This information becomes a consistent, reliable source for organizational use across all departments.

What does a master data management analyst do?

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A master data analyst is responsible for monitoring and examining master and key data collected and stored throughout a company or organization. As a master data analyst, specific duties might include developing databases to develop and support business goals, implementing standards and procedures for collecting and storing data, and harnessing data to gain key business insights. The career typically requires a combination of a certification or degree in IT, data science, or a related field and work experience in data analysis or software programming. To be a successful master data management analyst strong analytical and computer skills are needed as well as a deep understanding of database architecture. A data analyst needs to have a certain level of mathematic and statistical skills to seek out patterns and ascertain trends in data.

How to become a master data analyst.

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Seeking a position as a master data analyst usually requires having a bachelor’s degree in computer science, engineering, or programming. A senior-level analyst will also usually have an advanced degree as part of the qualifications. This level of education and knowledge is required as master data analysts are usually playing a crucial role in crafting company policy and investment. Non-traditional routes are also possible if you are working in the computer science or IT field and looking to segue into data analysis. Numerous institutions offer certifications for such individuals to capitalize on their skills and hone in on data management.

Other responsibilities of a data analyst include working with the latest data management tools and technologies to extract company-wide solutions. Since this position requires using data from across the company, effective communication skills are essential to be successful. Companies and organizations in all sectors hire data analysts. They are looking for people skilled in big data collection and interpretation. If you are already in the field, then moving into an analyst position should be fairly easy. If you are looking to start new in the field, use your knowledge to hone your skills at an entry-level position, and move up.

As you progress in your career in big data, you will naturally start taking on more responsibilities and maybe even leadership roles. Once you are in a data analyst position, you can advance your career through promotions and movement as there is a boom of data analysis work today. As an example, you might start in a role such as Datastage developer, progress to a senior software engineer, and then eventually end up as project management. With massive amounts of data and technology being used by industries today, there is an ample amount of opportunity in the field of data analysis.

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