Level: Intermediate to Advanced
Prerequisite: None
For over fifteen years, organizations have been launching (and often re-launching) master data management (MDM) initiatives with the intent of producing a “single source of truth” about their customer, product, and other critical business data domains. Despite these efforts, most organizations are failing to meet the challenge. In this course, you will learn how to devise, document, socialize, and implement a modernized master data strategy.
Although previous efforts have achieved some success in producing master data repositories, common issues have impeded organizations from gaining the best advantage from an MDM program. At the highest level, these challenges include the lack of executive support; weak (or absent) business case; complexity in data, system, and process integration; and insufficient or no governance.
Those challenges notwithstanding, there are even more insidious issues that can plague a master data management initiative, such as underestimating the complexity of development and implementation, low levels of data awareness, and relying on acquired products to provide a master data solution. With increased migration of applications and data to the cloud, data distribution creates yet another challenge to be overcome.
In this course, you will learn how to modernize your program for effective results. By examining the root causes of missed expectations for MDM, we will learn how business data consumers depend on corporate information assets such as customer or product information. In turn, we review candidate business drivers that motivate executive buy-in and then discuss how the business case informs the definition of success metrics for master data utilization. We will explore the integration opportunities across a modernized data landscape and map a conceptual framework for master data production and syndication customized to meet data consumer needs. After discussing the process of integrated governance, we summarize with a template for documenting a modernized master data strategy.
Attendees will learn about:
- Business client engagement, assessment of their master domain usage scenarios
- Synthesis and articulation of coherent business justifications for an MDM business case
- Reframing master data’s intent regarding advanced analytics, multichannel customer experience, and business process automation
- How data awareness informs an understanding of the contexts of master data sources
- Design patterns for integration across modern multicloud, hybrid, extra-organizational data landscapes
- Consumer-oriented data integration and materialization supporting the business use cases
- Fully aligned data governance
- Modernizing your MDM strategy