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HomeMDMExamples of Master Data in Retail and E-commerce

Examples of Master Data in Retail and E-commerce

Examples of Master Data feature

Master data refers to the consistent and uniform set of data that serve as trend identifiers, and prospective predictors, describing the core entities of an enterprise. Master Data is essential data within the company. There are several examples of Master Data broadly categorized into different types. The following five types of Master data are core to the operating n of retail e-commerce businesses:

Examples of Master Data 1
Examples of Master Data 2

Types of Master Data

  • Customer master data.

Customer master data are data that reflect details about customers ranging from their address, preferences, buying history, payment details, and more.

Customer data is majorly useful to sales, operation, and marketing departments in a business, and all three departments always have differing data, hence the need for master data.

  • Product master data.

Product Master data is a centralized document or catalog that consists of information and specifications about each product offered by the company.

  • Asset master data.

The Asset Master data is a collection of the assets owned by the business, the status, and condition of each.

  • Employee master data.

As the name suggests, the employee master data is a record of relevant details about each employee within the company. The date of assumption, qualification, salary, next of kin, health history and a long list of others are details contained in employee master data.

  • Vendor master data.

Vendor Master data is a single reference document that enshrines the details about distribution vendors of e-commerce businesses.

Every example of Master Data falls under a type of Master data, like the ones listed above.

E-commerce Retail Business’ Master Data Examples

The following are examples of master data needed in e-commerce retail stores.

  • The details of each delivery service the business patronizes.
  • Customers’ location and account details
  • Current cost price for each product.
  • Coupon codes.

All of these data require effective management for them to enjoy optimum use. While managing these data, Master data can be project-based or entity-based. This implies that the arrangement of master data is instrumental to easy searchability of data. So taking a cue from that, each data is either arranged according to the project for which it was used or arranged on the basis of the entity that it seems to describe. (For instance, an employee, a product, or a consumer). Project-based master data are searched by location, project lead, or project number, while entity-based master data get searched with the keywords of the entity searched.

The choice of which to search with is determined by your choice of Master Data management system. Examples of some MDM systems are

  • InfoSphere Master Data Management
  • TIBCO MDM
  • MasterDataOnline (MDO)
  • SAP NetWeaver MDM
  • Informatica MDM
  • IBM InfoSphere Information Server
  • Stibo STEP MDM
  • Teradata Master Data Management
  • Informatica Cloud MDM – Customer 360 for Salesforce

Available MDM solutions are either SaaS, SAP-focused, spreadsheet or ERP. The most common of modern ones are SaaS (Software as a Service). They are preferred over other options because they are cloud-based software that is accessed remotely via the internet, rather than being installed directly on a machine.

Related Product Information Management (PIM), DAM and MDM Links

Alf Alferez
Author: Alf Alferez

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]

Author

Dedicated writer with a strong track record of developing customer loyalty and managing general office operations. Enjoy being a part of a company where my skills and creative ideas will benefit the overall productivity of the organization. I have a strong desire to work in helping make the world a better place. Please reach out to me on [email protected]