Data used by business stakeholders to support their processes, decisions, or regulatory requirements with no reservations as to the data's relevance, accuracy, integrity, and other previously agreed upon definitions of quality.
Forrester defines MDM as a business capability enabling an organization to:
Identify trusted master data. MDM defines and/or derives the most trusted and unique “version” of important enterprise data (e.g., vendor, customer, product, employee, asset, material, location, etc.).
Leverage master data to improve business processes and decisions. MDM incorporates this master version of the data within functional business processes (sales, marketing, finance, support, etc.) that will provide direct – contextual - benefit to employees, customers, partners, or other relevant stakeholders within an organization.
MDM is not a technology space; it is a business capability enabled through the integration of multiple technologies and business processes. Source: Forrester Research, Inc.
MDM emerges as a key technology initiative January 2008 “The State Of Enterprise Software Adoption: 2007 To 2008”
An MDM Ecosystem requires an effective delivery system – with DQ at its core April 2008 “How To Make MDM And SOA Better Together”
Consider the complete Information Supply Chain when assessing data quality May 2008 “Trends 2008: Master Data Management”
Use the MDM maturity model to gauge your readiness May 2008 “Trends 2008: Master Data Management”
Data governance is critical path to ensure success of your trusted data initiative
Data governance is the process by which an organization formalizes the fiduciary duty for the management of data assets critical to its success.
Adopt an enterprise data governance framework that best matches your corporate culture September 2007 “Data Governance: What Works And What Doesn’t”
Business drivers must set the foundation for your business case
A bottom-up valuation approach
Data quality and MDM initiatives offer compelling drivers Source: Upcoming “The ROI Of Master Data Management” Forrester report
Four categories of business drivers for trusted data May 2008 “Building The Business Case For Master Data Management”
Without a business case, MDM and DQ will deliver below expectations
Common contributors to failed implementations include:
Failure to create business/IT alignment.
Underestimating the sponsorship commitment required for success.
Viewing poor data quality as the disease, but not the symptom, of broken processes.
Focus by building a Trusted Data Business Technology Value Plan May 2008 “Building The Business Case For Master Data Management”
"It took me three years and millions of dollars to recognize that data management is an enabler supporting the business, but [it] does not in and of itself reduce costs or deliver revenue." VP of data management for large global technology firm Welcome to the trusted data business case crossroads
Welcome to the trusted data business case crossroads Problem: There’s no funding without a business case. It’s too hard to build a top-down business case for the whole enterprise. Solution: Define your business case from the bottom up; start with an LOB or function-specific need and evolve to cross-enterprise deployment.