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Integrated Data: the importance
of well consolidated MDM

By Marcio Guerra - MD2 Marketing and Innovation Manager

Good processes start with quality data! Regulations such as LGPD, OPEN BANKING, SRO, IRFS17, E-SOCIAL, require unified and quality assured data.

The benefits of centralizing the information of the people who deal with the organization are relevant. From a single, qualified record, without loss of original information in its various systems, there is the opportunity to understand relationships with products and services, trends, preferences, and provide qualified data for business initiatives.

MDM is mandatory for a company that wants to be efficient and considers data and people an asset of the organization. This data needs to be accounted for, cared for, measured, improved, protected, and used in ways that improve relationships and enhance the customer lifecycle. Customer retention and development measures start with the quality of information.

The LGPD thickens the list of regulations and the risks of fines being imposed on companies for not complying with the rules that dictate how they must operate and do business using people's data. It is not just a matter of applying security to stored data, the management of the existence and use of this data must be carried out in a professional manner.

Thus, the relevance of MDM programs is further emphasized. Everyone knows that data from employees, customers, prospects, and service providers can and usually is stored in various systems within the company and in various formats.

The LGPD requires that the company controls the existence and use of people's information based on formalized purposes and framed in the legal bases provided that include consent, legal obligation, contract enforcement, legitimate interest, health protection, etc., and that the term of maintenance and use of such data is limited to the purposes. Thus, having the purpose completed, the data must be deleted or disfigured in order to disassociate it from its holder.

Without a unified repository of the holder's data, and all the controls of purpose x legal basis x validity, in addition to mechanisms of identification, collection, standardization, correction, correlation and unification of the data, we can say that it is impossible for a company to understand if the data kept in the systems (and used by the processes and people) are violating or not the rules imposed by law. The lack of an integrated vision of the data makes it unfeasible for the compliance team to act in order to meet the new rights foreseen in article 18 of the law.

The MDM must extend its capabilities to manage these issues and point out data records without legal grounds to be used, or provide insights to the marketing and service team to obtain consent to extend the opportunity to maintain and use this data and, at the same time, help in assertiveness and meeting deadlines to contribute to the expected processes that meet the new rights of the holders. Basically, these are rights in relation to the data kept by the company, its use and sharing with other data processing agents.

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