Many organizations approach Master Data Management (MDM) by taking an inventory of the data in their source systems, defining policies to improve the quality and usefulness of that data, and building a consolidated hub of that data. This “build it and they will come” approach too often results in an MDM hub that fails to meet the needs of the processes that want to consume that data.
Knowledgent approaches MDM from the perspective of the business processes and applications, both of which require complete and accurate data. Existing and new business initiatives rely on consistent master data as well. Once we have defined these processes and applications, we then work backward to design an MDM architecture that meets those needs, identifying the data required to make those business initiatives successful.
Knowledgent understands the important relationship between MDM and the business processes and applications that use master data. We know that MDM’s ability to manage master data as a strategic asset does not yield the required return on investment unless it improves the business processes, applications, and decisions that rely on master data.