What is Master Data (MDM)
Master Data is common data about customers, suppliers, partners, products, materials, accounts and other critical “entities,” that is commonly stored and replicated across IT systems.
Master Data is the high-value, core information used to support critical business processes across the enterprise. It is at the heart of every business transaction, application, report and decision.
The combination of MDM and emerging big data technologies provides a 360-degree view of customers and products.
Master Data Management (MDM) solves business challenges
To address critical business challenges like high operational costs, undifferentiated customer service, high risk associated with regulatory compliance, the need to introduce new products quickly, and the inability to cross-sell and up-sell, MDM provides a trusted view of critical entities typically stored and potentially duplicated in siloed applications - customers, suppliers, partners, products, materials, accounts, etc. MDM is a discipline that provides a consistent understanding of master data entities, and their relationships and hierarchies.
MDM is a key component for addressing big data challenges. Half of the big data initiatives today have customer-centric objectives. To improve the customer experience, organizations need to do what master data management has been doing for years – start with the facts about customers by defining the golden record.
Methods to push for MDM project sponsors :
1. Business value adds
The most important part of enterprise wide MDM implementation is realization of long term goals and consistent efforts for successful MDM selling. It might not seem obvious but many projects fail precisely due to the lack of support from sponsors in long term for master data management initiatives. The functions/departments, line of business users (outside IT) who actually use the master data for performing business operations or making business decisions.
If we can push for business or departments committed to fund MDM implementation (or iteration) tied to a specific business case, this means it is easy to identify sponsors who are ready to support the initiative. Also, there is emphasis on building baseline metrics with which to demonstrate value at the end of each implementation, which makes it easier to sustain the support of business either in funding of projects or allocation of resources for data governance.
2. Road map definition and alignment of use cases
Each and every phase of MDM delivery must be tied to one of the business use cases that it tries to address. If we are able to do the mapping to our MDM delivery in this manner it is very easy for sustaining the long term vision of MDM in enterprise. The simple expample will be building first phase of MDM roadmap ro
References
http://www-01.ibm.com/software/data/master-data-management/overview.html
http://public.dhe.ibm.com/software/data/sw-library/infosphere/briefs/IBMInfoSphereMDM-BusinessUseCasesbyEdition.pdf
