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Friday, December 10, 2004

Master Data Management - An Emerging Area

A new technology called - "Master Data Management" , is emerging, notable thing about this is the huge potential that this space seems to be having.Synchronization of master data across applications and analytic data structures is a challenge faced by all IT organizations (ITOs). In every enterprise, there exists core information (e.g., customers, products, locations, suppliers, partners) that transcends functional units or geographic boundaries. Master data management (MDM) is about tackling the decades-old problem of redundant and conflicting data in these foundational information asset areas. Addressing these information integration issues is critical in enabling ITOs to implement Web-based service-oriented architectures (SOAs) that meet corporate requirements for business agility and innovation
It's critical to companies looking to make the leap to service-oriented architectures (SOAs) says, Zdnet. Master data management is about tackling the decades-old problem of redundant and conflicting data scattered across business systems and putting it in one centralized place, to create a "system of record." (Coincidentally, this was the central idea to Oracle's "data hubs" that made news this week). But it's a monumental undertaking, requiring a pragmatic approach with strong coordination and project management skills, says Meta. Companies should avoid a big-bang approach and instead focus on bite-size pieces:
- First, identify and define attributes and mappings for master information assets, independent of organizational boundaries.
- Then, survey and establish business rules for current information asset's content.
- And third, define and implement workflow processes (i.e., create, update, delete) for the manual interactions with the software solution you choose.

With organisations juggling around with multiple taxonomises, no taxonomies in some places, multiple systems ( I have seen oragnsations using 2/3 different ERP's in the same location - using different modules from each of the system), master data management is a very important pain point - this is an important step in preparing organisations for having good quality data - absolutely essential for effective usage of real time information and further down for real time data analysis and pattern studies.
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Sadagopan's Weblog on Emerging Technologies, Trends,Thoughts, Ideas & Cyberworld
"All views expressed are my personal views are not related in any way to my employer"