Golden Records in Multi-Domain MDM

The term golden record is a core concept within Master Data Management (MDM). A golden record is a representation of a real world entity that may be compiled from multiple different representations of that entity in a single or in multiple different databases within the enterprise system landscape.

In Multi-domain MDM we work with a range of different entity types as party (with customer, supplier, employee and other roles), location, product and asset. The golden record concept applies to all of these entity types, but in slightly different ways.

Having a golden record that facilitates a single view of customer is probably the most known example of using the golden record concept. Managing customer records and dealing with duplicates of those is the most frequent data quality issue around.

If you are not able to prevent duplicate records from entering your MDM world, which is the best approach, then you have to apply data matching capabilities. When identifying a duplicate you must be able to intelligently merge any conflicting views into a golden record.

In lesser degree we see the same challenges in getting a single view of suppliers and, which is one of my favourite subjects, you ultimately will want to have a single view on any business partner, also where the same real world entity have both customer, supplier and other roles to your organization.

Having the same location only represented once in a golden record and applying any party, product and asset record, and ultimately golden record, to that record may be seen as quite academic. Nevertheless, striving for that concept will solve many data quality conundrums.

Location management have different meanings and importance for different industries. One example is that a brewery makes business with the legal entity (party) that owns a bar, café, restaurant. However, even though the owner of that place changes, which happens a lot, the brewery is still interested in being the brand served at that place. Also, the brewery wants to keep records of logistics around that place and the historic volumes delivered to that place. Utility and insurance is other examples of industries where the location golden record (should) matter a lot.

Knowing the properties of a location also supports the party deduplication process.