Quality in numbers
It is vital for many business processes to keep exact and reliable data on customers, products or suppliers. Mistakes may result if these business processes are based on incorrect or incomplete master data. Which in turn will impact on customer satisfaction and have a negative impact on business operations.
Master data are tightly linked to efficient processes within a company; this often becomes apparent in day-to-day operations when a business process is examined from customer query to receipt of money. The quality of all processes can be measured with a series of performance indicators such as lead times, number of failed deliveries and customer satisfaction.
The quality of the processes can be evaluated with a thorough analysis of these performance indicators. Any master data processes that have a direct impact on the process performance indicators should be targeted for improvement. Higher quality master data will result in fewer risks in business processes.