Discuss Dama CDMP-RMD Exam Topic 1 Question 35

An organization's master data can be acquired from an external third-party?

ATrue

BFalse

Suggested Answer: A

An organization's master data can indeed be acquired from external third parties. Here's how and why:

Third-Party Data Acquisition:

Enrichment: External data sources can be used to enrich an organization's master data, providing additional details and context.

Accuracy and Completeness: Acquiring data from reputable third-party sources can enhance the accuracy and completeness of master data.

Use Cases:

Market Data: Organizations may purchase market data to complement their internal customer or product data.

Reference Data: Common reference data, such as postal codes or industry classifications, are often obtained from external providers.

Integration:

Data Integration: Master data acquired from third parties needs to be integrated into the organization's MDM system, ensuring it aligns with existing data standards and governance policies.

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

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

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30 comments · newest first

Serina 6 months ago

I lean towards false. Internal consistency is key.

Wynell 6 months ago

True, but we need to verify the quality of that data.

Edmond 6 months ago

False. Relying on external sources can be risky.

Shawna 7 months ago

True! Third-party data can fill gaps in our records.

Bethanie 7 months ago

I disagree. Master data should be internal for accuracy.

Lorrie 7 months ago

I think it's true. External data can enhance insights.

Lavera 7 months ago

Not sure about that, seems risky to rely on outsiders.

Sharika 7 months ago

Definitely true, it’s a common practice.

Charlena 8 months ago

Surprised to hear that! I thought it was always in-house.

Corinne 8 months ago

I disagree, master data should be internal.

Ira 8 months ago

False, unless you want your data to be as reliable as a fortune cookie.

Keshia 8 months ago

True, but make sure the third-party is reliable and secure.

Cristal 9 months ago

Hmm, I'd say it depends on the organization's needs and policies.

Cathrine 9 months ago

False, we should maintain our own master data.

Vallie 9 months ago

True, that's the way to go!

Marjory 9 months ago

I recall discussing how organizations often use third-party data for analytics, but I’m not confident if that applies to master data specifically.

Estrella 9 months ago

I’m a bit confused because I thought master data was strictly internal, but I guess it could be supplemented by external data?

Denise 9 months ago

I practiced a question like this where it mentioned that external sources can provide valuable insights, so I’m leaning towards True.

Georgeanna 10 months ago

I think I remember something about master data being sourced internally, but I'm not entirely sure if third-party data can be included.

Phung 10 months ago

I'm a bit confused by this question. I'll need to review my notes on data management best practices before deciding.

Janessa 10 months ago

Okay, I've got a strategy for this. I'll first define what "master data" means in this context, then evaluate the pros and cons of using a third-party source.

Geoffrey 11 months ago

True, many companies do this!

Grover 11 months ago

This is a good test of our understanding of data governance. I'm confident I can reason through the right answer here.

Moira 11 months ago

Hmm, I'm not entirely sure about this one. I'll need to think through the potential risks and benefits of acquiring master data from an external source.

Latanya 11 months ago

This seems like a straightforward true/false question. I'll carefully read the prompt and consider the implications before selecting my answer.

Carmen 6 months ago

↳ replying to Latanya

I agree, but we need to verify the source.

Stefany 6 months ago

↳ replying to Latanya

True, but it raises data quality concerns.

Junita 6 months ago

↳ replying to Latanya

It can be both. Depends on the organization.

Frankie 10 months ago

↳ replying to Latanya

But isn't master data usually internal?

Francoise 10 months ago

↳ replying to Latanya

I think it's true. External sources can provide valuable data.

Dama CDMP-RMD Exam - Topic 1 Question 35 Discussion