How to Approach Master Data Management with Three Basic Steps

How to Approach Master Data Management with Three Basic Steps

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.

Share it:
Share it:

[Social9_Share class=”s9-widget-wrapper”]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You Might Be Interested In

Real digital transformation starts with data governance

18 Nov, 2019

By now, any company born before the digital age is likely to be contemplating or undergoing substantial transformation. More than …

Read more

The Era Of Continuous Intelligence

3 May, 2021

The primary data challenge (and opportunity) presenting itself to many organizations, whether commercial enterprises, academic institutions or public sector bodies …

Read more

3 Predictions For The Role Of Artificial Intelligence In Art And Design

8 Sep, 2020

Christie’s made the headlines in 2018 when it became the first auction house to sell a painting created by AI. …

Read more

Do You Want to Share Your Story?

Bring your insights on Data, Visualization, Innovation or Business Agility to our community. Let them learn from your experience.

Get the 3 STEPS

To Drive Analytics Adoption
And manage change

3-steps-to-drive-analytics-adoption

Get Access to Event Discounts

Switch your 7wData account from Subscriber to Event Discount Member by clicking the button below and get access to event discounts. Learn & Grow together with us in a more profitable way!

Get Access to Event Discounts

Create a 7wData account and get access to event discounts. Learn & Grow together with us in a more profitable way!

Don't miss Out!

Stay in touch and receive in depth articles, guides, news & commentary of all things data.