Six Steps to MDM Success
Steps you should take before embarking on a master data management initiative.
A recent survey found that employees at large organizations who have implemented Master Data Management (MDM) can find data five times as quickly as in shops without the high level of data quality employed. As our Loraine Lawson reports, MDM can also improve customer satisfaction and potentially cut IT costs for storing flawed or redundant data.https://o1.qnsr.com/log/p.gif?;n=203;c=204663295;s=11915;x=7936;f=201904081034270;u=j;z=TIMESTAMP;a=20410779;e=i
However, the technology continues to struggle in many organizations, Loraine reports, due to factors ranging from unclear ROI metrics to viewing MDM as a standalone project as opposed to an integrated approach to handling data.
Our partners at Ventana Research surveyed more than 500 shops that had implemented MDM, and the results are reported in this collection of Master Data Management Research Notes, which is available free to IT Business Edge members here in the IT Downloads library.
The top benefit of MDM cited by survey respondents (which included IT Business Edge readers) was accuracy of reporting, at 42 percent. The research showed that MDM can improve most customer- and reporting-facing business processes.
However, the top driver for the businesses that had implemented MDM was not improving a business process - which readily translates to ROI - but rather cutting down on the hassles involved in reconciling data. That's a tougher sell from an ROI point of view.
Other research items in the collection of notes report findings from other Ventana surveys. Some data points of interest include:
- Only 14 percent of respondents to one survey said they totally trust the quality of their master data.
- 28 percent of respondents to one survey already have an SOA in place, and 17 percent more report they will implement one together with MDM. MDM's ability to deliver "one version of the truth" across systems make it a natural fit with SOA, proponents say.
- More than a third of respondents to one survey had not implemented any form of data warehouse to improve and centralize data management.
The collected research notes include a lot of useful data points to help you craft a more compelling business case for MDM. Be sure to check them out.