CDMP-RMD Exam Dumps : Reference And Master Data Management Exam

The Master Data hub environment that serves as the system of record for Master Data is:

Consolidated Hub:

Central Repository: Acts as a central repository where master data is stored and managed.

Data Quality and Integration: Ensures data quality by integrating data from various source systems and providing a single source of truth.

System of Record: Maintains the most accurate and up-to-date information about master data entities.

Other Hub Types:

SOA (Service-Oriented Architecture): Focuses on providing a flexible architecture for integrating services but not specifically a master data hub.

Two-Speed Hub: A hybrid approach, but not solely a system of record.

Source Hub: May refer to original source systems, not a consolidated system of record.

Registry: Primarily maintains references to data stored in other systems but not a comprehensive system of record.

References:

Data Management Body of Knowledge (DMBOK), Chapter 7: Master Data Management

DAMA International, "The DAMA Guide to the Data Management Body of Knowledge (DMBOK)"

Reference and Master Data Management (RMDM) governance processes are designed to manage and ensure the accuracy, consistency, and quality of critical data assets across an organization. These processes focus on defining, maintaining, and governing the shared data entities and attributes that are essential for various business processes. One of the key aspects governed by RMDM is "Data change activity."

Reference and Master Data Definition:

Reference data is a subset of master data used to classify or categorize other data within an organization. It typically includes codes and descriptions.

Master data refers to the critical business information regarding the core entities around which business is conducted, such as customers, products, employees, and suppliers.

Data Change Activity:

This involves tracking and managing the changes made to master and reference data over time. The governance processes ensure that any changes to this data are properly authorized, recorded, and communicated to relevant stakeholders.

Managing data change activity includes monitoring modifications, updates, additions, and deletions of reference and master data.

Importance in Governance:

Effective governance of data change activity ensures that the integrity and quality of master data are maintained. It prevents unauthorized changes that could lead to data inconsistencies and inaccuracies.

It supports audit trails and compliance with regulatory requirements by providing transparency and accountability for data changes.

A global identifier is used to link multiple references to the same entity across different systems or datasets. Here’s why:

Purpose of Global Identifier:

Unique Identification: Provides a unique identifier that can be used to recognize the same entity across disparate systems and datasets.

Consistency: Ensures that different references or records pointing to the same entity are consistently identified and managed.

Linking Equivalent References:

Equivalent References: Global identifiers link references that are equivalent, meaning they represent the same real-world entity even if the data is stored differently in various systems.

Entity Resolution: Helps in resolving different records to a single entity, ensuring data consistency and accuracy.

Example:

Customer Records: A customer might be listed in different systems (CRM, billing, support) with slightly different details. A global identifier links these records to recognize them as the same customer.

References:

Data Management Body of Knowledge (DMBOK), Chapter 7: Master Data Management

DAMA International, "The DAMA Guide to the Data Management Body of Knowledge (DMBOK)"