Implement a Master Data Management Strategy
Manage the truth, the whole truth, and nothing but the truth with an MDM strategy.
- Regulatory constraints, mergers and acquisitions, SOA, and Cloud computing all require a single version of the truth for master data objects and yet many organizations still have multiple copies.
- IT and business leaders are recognizing the need to implement master data management (MDM) processes and technology to better manage enterprise master data.
- Central to an MDM program is the implementation of an architectural framework that will support the management of master data, create an authoritative source of enterprise master data, and ensure appropriate access to master data for all relevant applications.
- Several different architectures exist for MDM implementation and it is difficult to know which one is most appropriate for the organization.
- MDM impacts the organizational data processes: how data is entered, maintained, accessed, and retired.
Our Advice
Critical Insight
- Data Quality is a critical component to MDM and must be considered as part of any MDM initiative.
- IT and the business often blame one another for data quality issues. The business must own the data, but IT needs to have an active role in offering solutions to help the business address data quality problems.
- Organizational processes are just as critical as technology when implementing and maintaining clean master data.
- An MDM initiative is a long-term practice, not a short-term project. MDM is never a truly complete project, as there will always be new data and new data sources coming into the organization. An MDM initiative is guaranteed to disrupt the culture of the organization, and that is often a factor contributing to not pursuing MDM. But that disruption doesn’t have to be detrimental if you are prepared to manage the change proactively and effectively.
Impact and Result
- Implement MDM with Info-Tech’s MDM Lifecycle.
- Develop a strategy and plan for MDM.
- Design Master Data processes and technology.
- Implement MDM processes and technology.
- Maintain MDM through governance and optimization.
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