Benefits of MDM:
1) Increased revenue
2) Decreased cost
3) Manage risk
4) Ensure Quality
5) Customer satisfaction
Streamline operations with reliable data that is accurate, consistent, and rich enough to provide improved business value,
Enable an enterprise wide data architecture that can be used to build new applications or gradually sunset redundant, legacy systems,
Enforce data governance and improve coordination among teams so that they can avoid politics and efficiently collaborate to decrease overall costs,
Optimize reporting effectiveness and provide a more accurate analysis for business intelligence,
Remove and prevent duplicate data to decrease costs associated with redundant process or systems
Systematically increase Data Quality by identifying and addressing broken processes and ensure continuous cleansing to improve ongoing accuracy,
Improve effectiveness of corporate wide marketing campaigns and provide valuable cross system analysis for risk management.
Tuesday, 7 June 2011
MDM : Main parts of MDM solution
Import of master data records : Import of master data from the different sources structred or unstrctured data XML File,Flat file, CSV file etc.
Cleansing and enhancement interface : Enhance the interface as per the business requirement.
Workflow for approval : Proper workflow is required to maintain only the relevant master data .The approval process will include the domain experts and the business experts.
Verifications and validations :Verification of the master data before enterin to the sstem.Apply proper validations.
Versioning and life-cycle management :Maintain the historical changes to the master data.
Logging for compliance, governance and auditing :maintain the auditing for the master data.
Export of master data records: Push the master data to the system which wnts to import the data.
Cleansing and enhancement interface : Enhance the interface as per the business requirement.
Workflow for approval : Proper workflow is required to maintain only the relevant master data .The approval process will include the domain experts and the business experts.
Verifications and validations :Verification of the master data before enterin to the sstem.Apply proper validations.
Versioning and life-cycle management :Maintain the historical changes to the master data.
Logging for compliance, governance and auditing :maintain the auditing for the master data.
Export of master data records: Push the master data to the system which wnts to import the data.
MDM : MDM solution's functions
1) Single version of truth.
2) Master Data synchronized and validated.
3) Master Data maintained by the business users and the domain experts not the system experts
Profile - Perform a quality assessment, detect anomalies and highlight issues in their corporate data assets. Identify the source schemas for your master data. The source data may be structured or the unstructured data.
Model - Create a common model for any data you wish to master. Iterate over time to accommodate changes and ongoing modifications.Master Data Model must be created to cater all the reference data requirement and the changes to the model must be monitored.
Integrate - Acquire data from any source, synchronize and make available in batch or real time and in the right formats to the right systems users.The system should be able to import the data in any format text file , sql server file , oracle, ms access , old data , csv files etc.
Cleanse - Cleanse, standardize and augment data as well as remove duplicates and create an accurate master across and within sources.Ensure data quality and apply the proper business logic to maintain the quality data.
Govern - Institute process controls to provide a systematic approach to improved data quality. Enable a group of users to collaborate on, agree and publish a set of accepted master data.There should be the proper work flow to govern the master data.
Master - Establish a common understanding and publish highly accurate, reliable master data for any domain across any size organization
2) Master Data synchronized and validated.
3) Master Data maintained by the business users and the domain experts not the system experts
Profile - Perform a quality assessment, detect anomalies and highlight issues in their corporate data assets. Identify the source schemas for your master data. The source data may be structured or the unstructured data.
Model - Create a common model for any data you wish to master. Iterate over time to accommodate changes and ongoing modifications.Master Data Model must be created to cater all the reference data requirement and the changes to the model must be monitored.
Integrate - Acquire data from any source, synchronize and make available in batch or real time and in the right formats to the right systems users.The system should be able to import the data in any format text file , sql server file , oracle, ms access , old data , csv files etc.
Cleanse - Cleanse, standardize and augment data as well as remove duplicates and create an accurate master across and within sources.Ensure data quality and apply the proper business logic to maintain the quality data.
Govern - Institute process controls to provide a systematic approach to improved data quality. Enable a group of users to collaborate on, agree and publish a set of accepted master data.There should be the proper work flow to govern the master data.
Master - Establish a common understanding and publish highly accurate, reliable master data for any domain across any size organization
Monday, 6 June 2011
MDM : Why Master Data Managemenet is required ?
1) In an enterprise environment different people involved who maintain the different applications and processes.Everybody look differently the same master data.
2) Different applications could be used to maintain the master data differently . For example the CRM application maintain the Customer master data and billing application maintain the customer account but they are similar thing.So some MDM application is required to maintain the single copy of the same master data instad of different version of the same master data in different applications.
3) Different versions of the same data .For example there is a organization name called BMW and because of the different applications the same "BMW" organization may have different versions for the name like
BMW Company.
BMW Ltd.
BMW LTD
BMW Private Ltd. etc.
This may cause the potential problems in maintaining the company or organization information.data quality also a serious problem.
•4)Manual processes in enterprise to maintain the master data like spreadsheet and word documents and this could lead to the inconsistent and error prone data while compling the data for any use.maintenance of this type of data is big challenge.
•5) •No way to audit.If organizations not use the MDM solutions then they dont have any way to audit the
••6)Time and resource consuming : If MDM soluion is not in place the enterprise has to invest lot of time and resources during the integration of the application.
2) Different applications could be used to maintain the master data differently . For example the CRM application maintain the Customer master data and billing application maintain the customer account but they are similar thing.So some MDM application is required to maintain the single copy of the same master data instad of different version of the same master data in different applications.
3) Different versions of the same data .For example there is a organization name called BMW and because of the different applications the same "BMW" organization may have different versions for the name like
BMW Company.
BMW Ltd.
BMW LTD
BMW Private Ltd. etc.
This may cause the potential problems in maintaining the company or organization information.data quality also a serious problem.
•4)Manual processes in enterprise to maintain the master data like spreadsheet and word documents and this could lead to the inconsistent and error prone data while compling the data for any use.maintenance of this type of data is big challenge.
•5) •No way to audit.If organizations not use the MDM solutions then they dont have any way to audit the
••6)Time and resource consuming : If MDM soluion is not in place the enterprise has to invest lot of time and resources during the integration of the application.
MDM : What is Master Data Management
The process to create the single and clean copy of the master data used across the applications is called the Master Data management.
The Master Data Management could be an application which create and maintain the master data including the policies and procedures to create, update , delete and select the master data across the applications using the master data.
For many, management of enterprise data often relies on email, shared spreadsheets, batch processes or proprietary black-box applications. Collaboration is often understood but difficult to implement and enforce and these disconnected processes can often lead to operational errors, incorrect reporting and costly maintenance.
To address these issues, organizations use Master Data Management (MDM) to build a single, accurate view of enterprise data. MDM comprises a set of processes and tools that defines and manages enterprise data to ensure accuracy, consistency and control over across organization lines.
The Master Data Management could be an application which create and maintain the master data including the policies and procedures to create, update , delete and select the master data across the applications using the master data.
For many, management of enterprise data often relies on email, shared spreadsheets, batch processes or proprietary black-box applications. Collaboration is often understood but difficult to implement and enforce and these disconnected processes can often lead to operational errors, incorrect reporting and costly maintenance.
To address these issues, organizations use Master Data Management (MDM) to build a single, accurate view of enterprise data. MDM comprises a set of processes and tools that defines and manages enterprise data to ensure accuracy, consistency and control over across organization lines.
Monday, 30 May 2011
MDM : Types of Data and MDM applications
There are mainly 3 types of Data
Master Data
Transactional Data
Metadata
The Master Data is the candidate for the Master data management.
There are many MDM applications exists like:
PIM {Product Information Management}
CDI {Customer Data Integration}
Analytical Master Data used for the reporting
Vendor Master Data
Supplier Data
Employee Data
Master Data
Transactional Data
Metadata
The Master Data is the candidate for the Master data management.
There are many MDM applications exists like:
PIM {Product Information Management}
CDI {Customer Data Integration}
Analytical Master Data used for the reporting
Vendor Master Data
Supplier Data
Employee Data
MDM : What is Master Data ?
1)Master data is data shared across computer systems in the enterprise.
2)Master data is the dimension or hierarchy data in data warehouses and transactional systems
3)Master data is core business objects shared by applications across an enterprise
4)Slowly changing Reference data shared across systems
5)Master data is data worth managing
Master Data Could be related to the below subject areas like :
Customer
Vendor
Supplier
Product
Geography
Master Data is the Data which is not changed very frequently in the enterprise but the maintenance and management of the master data is really very important for the smooth operation of the enterprise.
2)Master data is the dimension or hierarchy data in data warehouses and transactional systems
3)Master data is core business objects shared by applications across an enterprise
4)Slowly changing Reference data shared across systems
5)Master data is data worth managing
Master Data Could be related to the below subject areas like :
Customer
Vendor
Supplier
Product
Geography
Master Data is the Data which is not changed very frequently in the enterprise but the maintenance and management of the master data is really very important for the smooth operation of the enterprise.
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