Also, there are commercial organization identifiers as the Duns Number available. There is Legal Entity Identifier (LEI) concept slowly penetrating in financial services. Most countries have national ID systems for both citizens (however in most countries mostly restricted to public administration) and organizations. There are party identification systems available. In lesser degree we see the same challenges in getting a single view of suppliers and 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. When identifying a duplicate you must be able to intelligently merge any conflicting views into a golden record as examined in the post Three Master Data Survivorship Approaches. 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. Managing customer records and dealing with duplicates of those is the most frequent data quality issue around.
Having a golden record that facilitates a single view of a customer is probably the most known example of using the golden record concept. The golden record concept applies to all of these entity types, but in slightly different ways. In Multidomain MDM we work with a range of different entity types as party (with customer, supplier, employee and other roles), location, product and asset. Holding the most current and accurate data values for the entity described.Having a complete description of that entity covering all purposes of use in the enterprise.Being a unique representation of the real world entity described.This representation may be compiled from multiple different representations of that entity in a single or in multiple different databases within the enterprise system landscape.Ī golden record is optimized towards meeting data quality dimensions as:
A golden record is a representation of a real world entity. The term golden record is a core concept within Master Data Management (MDM) and Data Quality Management (DQM).
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