Integrating master data can be perceived as an IT-related issue, and, hence, business stakeholders may be reluctant to engage in these initiatives. However, MDM is a cross-functional, technically complex, process-oriented discipline affecting information about customers, products, vendors, locations, and more. MDM requires acceptance and wide organizational support, and the message resonates best when MDM is placed into a business context.
A Master Data Management strategy and solution are critical to managing corporate information in a consistent, controlled, and “single-view” capable manner. Errors in master data across multiple sources and applications can cost an enterprise significantly in terms of missing business opportunities or creating dissatisfied customers. MDM helps in reducing such costs and helps businesses growth.
A Master Data Management program should be an enterprise-wide initiative. However, it is often difficult to start the initiative across the entire enterprise. The key is to embark upon tactical projects that are aligned with an overall enterprise vision for MDM. Pick a starting point with limited scope that proves the technical approach and delivers faster business benefits. For example, the starting point could be mastering customer data from a limited number of systems within the enterprise. This helps put together the technical foundation of the hub and gain experience with limited but controlled data stewardship. Of course, care should be taken that even this limited project brings measurable ROI.
Expedien’s technology and industry experts offer help at every stage of a master data management (MDM) program, from forming a strategy to implementing technology and new processes. MDM from Expedien helps ensure that decision makers work from a single version of the truth.
Our approach to MDM centers on helping our customers meet their MDM challenges by aligning their business and IT teams, enabling all stakeholders to collaborate more effectively across organizational boundaries, and by working from a shared vision and set of proven information management principles that support enterprise initiatives and specific business and IT objectives.
Our customers entrust us to help them assess their MDM program readiness, build their MDM business and technical cases, discover and design their MDM strategy, and then plan, deliver, and evolve their MDM solutions.
Data Governance is the key to successful Master Data Management.Data Governance programs aim to achieve high data quality, consistent data definitions, increased data security, coordinated effort among others. Master Data management is about managing the master data to achieve the goals of high quality, increased security, data share-ability, data reuse, exposure to data warehouse and business intelligence, reduce infrastructure costs among others. Data Governance provides structure for an MDM solution. A well defined Data governance program can initiate and assist in implementing a Master Data Management solution successfully.Download View Abstract