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We have not got a section on Master Data Management in ExecutionMiH.com as yet. If you refer to our Authoring Initiative
and the detailed proposed content structure on BI, you will see that it is part of our plan. Here is one brief de-mystifying and context-setting field-tip for master data management, which talks about the mind-set with which we should approach MDM.
MDM is not only Business Intelligence. BI is one of the providers as well as a beneficiary of MDM
Master data management means creating an integrated and quality reference for master data within the organization for all kind of usage (operational, transactional, analytical and decisional). Business Intelligence is one of the applications for MDM. An ERP is as much a stakeholder for MDM as is data warehouse.
CIM (Customer Information Management), PIM (Product Information Management), SIM (Supplier Information Management) are examples of initiative under Master Data Management.
MDM is 75% definition+discipline and 25% MDM platforms and automation.
MDM essentially talks about generating, processing and storing the master data in a consistent and accurate manner. An organization needs to have for master data, the following elements to be defined and adhered to: -
Data standards
- Data controls
- Data domains
- Common data model
- Business rules for the master data
- Processes to manage the master information.
The above is as old as the concept of data and process quality. Once that is done, creating platforms for MDM like meta-data repository, integrated and central master data repository, DW Dimensional Model
around master data etc..will become easier.
It is agreed that many of the MDM platforms (like a meta-data repository) enforce many of these commonsensical tasks. However an organization firstly has to establish the mind-set of sincerity in following the rules. If an application form or a new system do not follow the data standards and common data model, the MDM initiative will fall apart. A healthy mix of training, incentive, accountability, penalty and sponsorship at the highest level, will make it happen
MDM is a business (just like data quality and BI initiatives) and an enterprise level initiative
While you can have a functional level BI initiative, but MDM has to be an enterprise initiative as all the master data belongs to an enterprise level. MDM (like any other data management initiative) needs to be owned and sponsored by Business.
MDM business case is both in adding to share-holder value and in avoiding share-holder risks
MDM (like data quality) sometimes is seen as risk avoidance. A good MDM initiative can be as useful in enhancing top line as well as bottom like. For example a single Customer view can have a great upsell and cross-sell opportunity.
You do not need a separate organization for MDM
Your Data management & BI organization can also look after master data management. You do not need to create a new and separate organization. Data Steward role is the key driver for Master Data Management. ExecutionMiH.com strong recommendation is to have a single organization model to handle all BI and Data Management initiatives, because of their close interlink-age. |
