Scenario: You, as the HIM Director, has been asked to give a presentation to a g

Question

Scenario: You, as the HIM Director, has been asked to give a presentation to a group of new directors from other departments to explain Master Data during an informational session. You need to at minimum cover the use and importance of Master Data. You know that the new directors will be overwhelmed with presentations and information during this session and would like to develop a hand- out that they can take with them to remember the highpoints of your presentation Develop an informational handout which explains Master Data, the use of Master Data and the importance of Master Data. NOTE: This should not be written as a paper but as an informational handout

Explanation / Answer

Information handout on master data and its importance

Master data is the core data which is important for smooth operations in a business.

Managing master data effectively leads to becoming industry leaders through better strategic planning.

Enables the business to see one view of critical data elements across the organization.

It is the shared use of accurate and relevant data across systems.

It provides a single, reliable and precise view of the organization.

Managing master data improves customer’s experience by using right data from the system of records to analyze complete customer transactions.

Ensure that appropriate rules are followed to support audit requirements.

Help in innovation, new product and pricing decisions.

Thus it is the unified view of the definition and system of records for the most critical data of the organization.

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