Master Data Management (MDM) — The Second Wave

  1. MDM projects need to be tied to business outcomes. MDM is a business project that IT helps to implement. IT cannot implement MDM and hope that the business will come on board later. To be successful, tie all your MDM projects to solve business problems, and have clear business ownership, involvement, and defined outcomes from the very beginning. By the way, if you haven’t changed any business process as a result of implementing MDM, that’s a signal you are not leveraging MDM for business benefits.
  2. MDM projects take way too long to deliver business values. Nowadays, business cannot wait too long before seeing value. To be successful, have multi-phased MDM projects. Every phase should be short, 3–4 months each, and should deliver measurable business outcomes. It is good if you can adopt the agile approach to MDM projects so that they deliver business values even faster.
  3. You don’t understand what is master data. What I mean by that is that you put other data that is not considered master data (e.g., transaction data) into MDM to achieve a 360-degree view. It ends up in batch mode only and the data is out-of-date. It cannot be the trusted master, that it was meant to be. When implemented correctly, MDM is an operational system, delivering good, trusted, quality data on demand and in real-time. It is not the one single system to deliver all the data you need for a 360-degree view, but it will be a key contributor linking up with data from other systems to accomplish that.
  4. You cannot successfully implement MDM without Data Governance consideration. MDM is going to flush out the duplicates, and not all of them will be automatically resolved. So, you need to figure who, where, and when to resolve them, and it is not the IT department.
  1. Move your current on-premise MDM solution to a cloud platform. This is especially applicable if your volume and usage are increasing — extend usage to cover family members and prospects; increase usage of images for your products; M&A, etc.
  2. Infuse machine learning to your MDM to achieve the next level of automation and reduce expensive processes. Concentrate this on the area that still requires high-level manual intervention such as data steward capabilities.
  3. Let an experienced IT partner manage the MDM. You want to protect your existing investment and concentrate on usage rather than maintenance.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store