Enterprise Data Management (EDM) is a crucial capability for any organization that wants to manage its master data effectively, especially in the context of cloud adoption, mergers and acquisitions, or business transformation. Oracle Enterprise Data Management (Oracle EPM) is a modern, agile, and cloud-based solution that enables enterprises to manage application-specific business viewpoints, govern changes across them, share and map data sets to accelerate cloud deployment, and build an authoritative system of reference.

What is Enterprise Data Management?

Enterprise Data Management (EDM) is the process of defining, integrating, and maintaining the consistency and quality of enterprise data assets across various applications and systems. EDM helps organizations to ensure that their data is accurate, complete, consistent, and secure, and that it supports their business objectives and decisions.

EDM typically involves the following activities:

• Defining the data elements, attributes, hierarchies, relationships, and rules that represent the business concepts and perspectives of the enterprise.
• Integrating the data elements across different applications and systems, such as ERP, CRM, BI, EPM, etc., and ensuring that they are aligned and synchronized.
• Maintaining the data elements over time, by managing changes, updates, additions, deletions, validations, approvals, and audits.
• Sharing the data elements with downstream applications and systems, by exporting, importing, mapping, or transforming them as needed.
• Building an authoritative source of enterprise data assets, by creating a single version of truth that can be trusted and reused across the enterprise.

Why is Enterprise Data Management important?

Enterprise Data Management is important because it enables organizations to:

• Improve data quality and consistency, by reducing errors, duplications, conflicts, and ambiguities in the data.
• Enhance business performance and agility, by enabling faster and better decision making based on reliable and relevant data.
• Accelerate cloud adoption and migration, by simplifying the process of mapping and transferring data between on-premise and cloud applications.
• Support business transformation and innovation, by enabling what-if scenario modeling and analysis based on different data perspectives and assumptions.
• Reduce costs and risks, by minimizing manual efforts, rework, delays, and compliance issues related to data management.

How does Oracle Enterprise Data Management help?

Oracle Enterprise Data Management (Oracle EPM) is a cloud-based solution that helps organizations to manage their enterprise data effectively. Oracle EPM offers the following benefits:

• Connect disparate enterprise applications: Oracle EPM allows users to connect to various applications and systems from Oracle or third parties, such as ERP Cloud, HCM Cloud, EPM Cloud, Hyperion Planning, Essbase, etc., and access their data elements in a unified interface.
• Manage changes to enterprise master data elements: Oracle EPM enables users to create and modify data elements such as dimensions, members, attributes, properties, etc., in a collaborative and controlled manner. Users can create workflows to request, review, approve or reject changes; compare versions; track history; undo or redo actions; etc.
• Collaborate and co-author in real-time: Oracle EPM supports real-time collaboration among users who can work on the same or different data elements simultaneously. Users can chat with each other; comment on changes; share feedback; assign tasks; etc.
• Rationalize differences across business perspectives: Oracle EPM allows users to create multiple viewpoints or perspectives of the same data element to reflect different business needs or scenarios. Users can compare and reconcile differences across viewpoints; merge or split viewpoints; create hierarchies or flat lists; etc.
• Distribute changes to downstream applications: Oracle EPM enables users to export or import data elements to or from downstream applications and systems. Users can map or transform data elements as needed; schedule or automate data transfers; monitor status; etc.

How to get started with Oracle Enterprise Data Management?

To get started with Oracle Enterprise Data Management (Oracle EPM), you can:

• Request a demo from Oracle experts who can show you how Oracle EPM works and how it can help your organization.
• Read the datasheet (PDF) that provides an overview of Oracle EPM features and benefits.
• Watch the overview tour video that introduces you to Oracle EPM user interface and capabilities.
• Read the documentation that guides you through the steps of setting up and using Oracle EPM.