MDM strategy :Do you have one?
There are no second thoughts in implementing a data governance program to manage your master data. Though there are various definitions for data governance – they boil down to defining processes and policies for accessing data and adhering to them using technology and orchestration of people involved.
This also involves monitoring the adherence. Having defined data governance one key issue to be addressed is ‘Can you define an organization-wide data governance strategy for all master data?’
The basis for the above the question comes from the following key road blocks:
1. Lack of commitment to adhere to data governance policies
2. Data existing in the organization as silos. Defining cross-silo governance policies becomes difficult.
The first issue is essentially a mind-block which could be overcome by sensitizing the stakeholders on the importance of data governance.
Master Data Management (MDM) addresses the second issue. MDM tools consolidates your master data (be it product, customer etc.) in one single location and policies are defined for data in the master data base. This removes problems associated with silos of data.
Even after implementing a MDM program, organization could face inter-departmental issues. The best approach to handle this is:
• Take a horizontal perspective of organization while defining data governance policies – have representation from all departments in the governance council. This will help the organization to define process and policies acceptable to all departments and the department wise issues could be discussed and sorted out.
• Be proactive in defining process and rules, be reactive to any data issues and continuously support the stakeholders to ensure success of the program.
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Krithivasan S
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