Develop a Master Data Management Strategy and Roadmap to Better Monetize Data

Make sure your most important data is accurate and accessible across your business units to ensure optimal decision support and to monetize your data assets.

Onsite Workshop

Immature or non-existent Master Data Management (MDM) results in:

  • Lost partners or customers due to data errors.
  • Duplicate, incomplete, stale, invalid, and conflicting data.
  • Inaccurate business decisions made from incorrect or incomplete data.

A formalized MDM capability results in:

  • A central, single version of the truth for a specific data domain.
  • Improved business confidence when making decisions.
  • Centralized data, resolved duplicate records, and detected and declared relationships between data.
  • Data made available to the applications, people, and processes that need it.

Module 1: Develop a Vision for the MDM Project

The Purpose

  • Identification of MDM and why it is important.
  • Differentiate between reference data and master data.
  • Discuss and understand the key challenges and pains felt by the business and IT with respect to master data, and identify the opportunities MDM can provide to the business. 

Key Benefits Achieved

  • Identification of what is and is not master data.
  • Understand the value of MDM and how it can help the organization better monetize its data.
  • Knowledge of how master data can benefit both IT and the business.

Activities: Outputs:
1.1 Establish business context for master data management.
  • High-level data requirements
1.2 Assess the value, benefits, challenges, and opportunities associated with MDM.
  • Identification of business priorities
1.3 Develop the vision, purpose, and scope of master data management for the business.
1.4 Identify MDM enablers.
1.5 Interview business stakeholders.

Module 2: Assess MDM Capabilities

The Purpose

  • Recognize business drivers for MDM.
  • Discuss MDM methods of use.
  • Determine where master data lives within the organization.

Key Benefits Achieved

  • Understand how to gain business support for MDM.
  • Definition of the three MDM methods of use.
  • Identification of where master data lives in the organization. 

Activities: Outputs:
2.1 Evaluate the risks and value of critical data.
2.2 Map and understand the flow of data within the business.
  • Data flow diagram with identified master data sources and users
2.3 Identify master data sources and users.
  • Master data dictionary
2.4 Assess current master data management capabilities.
  • Master data management capability assessment
2.5 Set target master data management capabilities.
2.6 Identify performance gaps.

Module 3: Analyze Gaps and Develop Improvement Initiatives

The Purpose

  • Determine where the organization currently stands in its MDM capabilities.
  • Get a clear picture of what the organization wants to get out of MDM.
  • Based on the gaps identified between the current and future states, identify key initiatives and timelines.

Key Benefits Achieved

  • Communicate IT projects to the business in a way that captures the support of decision makers in the organization is half the battle.
  • Have a clear and laid out initiative roadmap to ensure success of the MDM program as this will help create alignment between the goals of the business and IT. 

Activities: Outputs:
3.1 Evaluate performance gaps for remediation.
  • Data and master data management alignment and strategies
3.2 Develop alignment of initiatives to strategies.
3.3 Consolidate master data management initiatives and strategies.
3.4 Develop a project timeline, and define key success.

Module 4: Design Roadmap and Plan Implementation

The Purpose

  • Define match rules, golden rules, hierarchies, and affiliations.
  • Create a strategic roadmap.
  • Define metrics.
  • Understand new data source quality and integration testing.
  • Understand change request procedures.

Key Benefits Achieved

  • Understand the importance of match rules, golden rules, hierarchies, and affiliations.
  • Produce a strategic roadmap.
  • Identify metrics.
  • Understand how to integrate new data sources and/or the next domain.
  • Implement a change request procedure.

Activities: Outputs:
4.1 Identify dependencies of initiatives.
  • Master data management roadmap
4.2 Prioritize actions.
4.3 Build a master data management roadmap (short and long term).
4.4 Consolidate into master data management strategy.
  • Master data management strategy for continued success

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