by Angela Guess
David Corrigan recently set down what he sees as the five pillars of master data management. He writes, “These principles will help one understand how to quantify success, track ROI and communicate the business impact. If the principles are incorporated, companies can take advantage of this rapid MDM evolution, including an increase in customer satisfaction and the fact that organizations without MDM programs spend five times longer searching for data. Organizations can achieve the next phase in maturity by adhering to the following steps in developing an information governance program.”
The first pillar is to define your business problem: “When you start the master data management process, it is critical to understand your business problems and develop a plan to address those issues. Consider the application or process that initially made the data unusable or bad. Initially you may be able to clean up a set of instances of bad data; the goal of your project is to solve the problem at its source.”
Corrigan adds, “This is why MDM is strongly linked to business processes and applications. In order to drive MDM adoption, companies should think of a consumption-centric approach — to define who needs master data, then what data they need, and when they need it. Finally, identify the key win criteria — the greatest ROI, biggest organizational win — that will solve the problem identified and meet your business imperatives.”
Read the rest of the pillars here.
photo credit: marc falardeau
