Ten Mistakes: Not Planning for Data Quality and Master Data Management
"The bitterness of poor quality lingers long after the sweetness of meeting schedules is forgotten." - Kathleen Byle
MDM is critical for meeting an enterprise's information demands, regardless of the data original source, but MDM implementation involves business process modeling, data mapping, cleansing, consolidation, reconciliation, migration, and a master data plan. Clearly it's not for the faint of heart. We show you how to get off on the right foot with careful attention to data quality and project planning.
- By Karen Degner
- February 23, 2007
BPM is a framework for the successful communication and execution of strategy. An accurate and timely 360 degree view of the business is essential. In addition to regulations such as Sarbanes-Oxley, stakeholders are demanding greater transparency, auditability, and accountability. Core to this is confidence that the BI infrastructure provides timely, credible, comprehensive, enterprisewide information. The cost to the business for poor and inconsistent data can be enormous. In a 2006 TDWI Best Practices Report, Master Data Management, 83 percent of respondents reported that their organizations had suffered problems due to poor master data. BI was deeply affected; 81 percent of respondents reported that BI functions suffered.
MDM is critical for meeting these information demands, regardless of the data original source. Implementing MDM involves business process modeling, data mapping, cleansing, consolidation, reconciliation, migration, and the development of a master data plan, best resulting in the population of an enterprise data warehouse.
MDM is not for the faint of heart. Determining the systems of record, data ownership, stewardship, and standards requires consensus if they are to be accepted across organizational boundaries. The development of a permanent governance team to include both business and IT members is recommended. Executive commitment is paramount.
These activities, along with metadata management, will set the foundation for organizations to confidently monitor and manage the business proactively, while responding to stakeholder demands with world-class execution.
This content is a selection from the TDWI Publication Ten Mistakes to Avoid, from February 23, 2007.