Concepts and applications of Master Data Management.

Master data is the collection of information that is critical to the core operation of a business.

Master data may include things such as:

• People – employees, customers, suppliers.
• Things – products, accounts, contracts.
• Places – cost centres, stores, territories.

Master data not only defines the objects themselves, but also the relationships between objects.

For example:

• Employees may be related by an organisational hierarchy.
• Cost or profit centres may be rolled up.
• Customers may be formed into territories and regions.

Problems arise with master data because in today’s complex business environment, there can be many systems – each with a possibly differing view – that can create problems in both the reporting and control of your data.  Creating an authoritative source for master data within your organisation is critical to ensuring that you have a consistent view across your systems about each of these business entities and their relationships.

There are many symptoms associated with the need to better manage master data.  Some of the more common ones we see are:

• Difficulty maintaining dimension or hierarchy reference data
• Conflicting views of product, customer, location, account, etc.
• No place to capture and manage relevant attribute information
• Inability to enforce data stewardship processes
• Inconsistent and Inaccurate information

To achieve the desired business outcome, any MDM solution requires a combination of technical and process areas to be addressed.  A true solution entails more than technology, many other aspects must also be considered.  Our proven methodology encompasses all aspects of a master data engagement and ensures we get the best result – one that provides value, fits the business, and meets the needs of users.