Six Steps to MDM Success - Slide 3

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The key words here are “integrity” and “confidence,” according to Forrester analyst Rob Karel, who says many organizations actually need to become more effective at data integration before they consider MDM. In a recent Tech Target article, Karel specifically identifies the ability to move data in scheduled batches and near real-time transactions, while maintaining the data's integrity, as a "critical enabler for a complex MDM architecture.”

David Loshin, president of Knowledge Integrity, Inc., says that includes documenting the business terminology used across your applications. He writes:

What emerges quickly during any data integration exercise, though, is that there is enough variance in 'implied semantics' to prevent a true consolidation. Recognizing that this variance will increase the time for an acceptable master data consolidation suggests that prior to the deployment of the MDM program, it is worthwhile to collect and document the fundamental business terminology that is commonly used in order to document the numerous understandings, research authoritative sources for actual definitions and harmonize those definitions to determine alignments (or perhaps misalignments), with actual use.

More organizations are pursuing MDM (master data management). Forrester Research says its client inquiries about MDM have increased 90 percent in the past two years, and by early December of 2010, Gartner had estimated that worldwide MDM software revenue would reach $1.5 billion by year end, a 14 percent increase from 2009.

That's a lot of cash and yet Gartner predicts 66 percent of organizations will find it difficult to demonstrate the business value of MDM.

Could it be that many organizations need MDM but haven't prepared for it?

In this slideshow, Loraine Lawson highlights the steps many MDM practitioners and analysts say you should take before embarking on a master data management initiative.

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