When a simple Google Search on “How to get started with Master Data Management” gives you 13,600,000 hits, it’s not surprising if you're not sure how to approach MDM. Whether you’re considering if your business needs to adopt a MDM solution, if you already have decided that it does but you don’t know where to start, or if you already have some MDM capabilities implemented but feel that they need to be updated, these three initial steps – created by MDM expert John Radcliffe and originally presented in this webinar – will help you get started.
1) Align with, and help deliver, the business vision
All companies have different business visions depending on their industry. The first thing you need to do is establish what your business vision is, where the vision is going in the future and who owns it.
You need to look at the vision and ask what your business differentiator is – what’s your fundamental ‘thing’? It's usually one of these three:
Once you have established this for your business you need to think the MDM initiative into this framework. So if your business 'thing' is customer centricity then you should probably focus your MDM efforts on the customer domain. If it’s operational efficiency or product excellence then you most likely need to focus on product and/or supplier MDM.
Note, if your vision is more than 10 years old, it probably needs to be updated. Your 2020 vision will most likely differ a lot from your 2000 vision due to the digital development. Just like your MDM efforts, your vision needs to change once in a while.
2) Choose the right strategy and approach
Maybe you’ve already done great things with MDM in one domain and now want to move on to another. Maybe you need to restart or re-energize your MDM program. Or maybe you’re all new to this.