How does Master Data Management improve business security?
Implementing Master Data Management (MDM) is a critical first step in ensuring that enterprise data is safe and secure. According to a whitepaper from EnterWorks, MDM sets an organisation on course for a "safe, secure central repository of data."
Protecting customer data
Protecting customer data is integral as it enables companies to operate in an efficient manner and serve customers effectively. As EnterWorks notes, it also helps companies better understand their customers in order to "provide more targeted products and services."
Customer attributes stored in the MDM system include both general information and highly sensitive data. As a result, it is important that customer data in the MDM system remains secure.
User authentication is one of the several crucial security aspects of MDM. This tool helps identify a user, which ensures that only "the correct (and approved) individuals, groups or applications" can access this information.
User authorisation is also an important MDM capability. In effect, it allows organisations to "keep resources in the MDM system secure by only allowing those with specific, granted privileges to gain access to certain data."
Finally, an MDM system also enables companies to utilise Access Logs and Timestamps. These features "institute an audit trail and time stamps to see who has requested, accessed, created and updated certain records."
Data security starts with MDM
An MDM solution allows enterprises to ensure that valuable customer data is secure. Without an MDM system, sensitive information is retained in silos, located in "disparate systems and spreadsheets that are maintained in a manual and often risky manner."
MDM also allows companies to "identify, consolidate and link data and information across the enterprise." As a result, this drives faster and more effective service and products for their customers.
Nevertheless, managing and controlling this data is crucial to maintaining business continuity and mitigating risk. EnterWorks takes the appropriate steps to "safeguard user information using recommended industry encryption methods."
An MDM implementation with EnterWorks allows enterprises to house the system on an on-premise server or in the cloud. According to the company, however, approximately 70% of customers are opting for the cloud.
As EnterWorks notes, security is a business-critical issue. As a result, it is crucial that enterprises invest in a robust security solution in order to secure valuable information.
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