Master Data Marathon 2.0- MDM Solutions Webinar

Overview of the Master Data Marathon

Make a Data Governance strategy fit for purpose. We discuss how to approach a Data Strategy, covering three important aspects- Process, People and Data and how to create better MDM solutions from these principles.

What are MDM solutions?

An MDM solution is the execution of a methodology around data management deployed and executed via technology or a software program. An MDM solution brings together IT governance and the organisation to improve the recording, accuracy, responsibility and distribution of master data throughout an organisation.

The solution is designed to make this process as smooth as possible for the organisation for better use of time and resources.

Problems with MDM solutions

For the vast majority of today’s organisations embarking on transformation initiatives, ERP remains a critical, central component for both primary business activity and the predominant system of record for maintaining key business data domains.

In order to establish such data requirements that fuel daily ERP activity, enterprises are often guilty of relying heavily on

• Manual data creation and replication techniques
• Offline, lack of transparent workflow mechanisms
• Unstructured data capture forms from various sources of knowledge

This results in time and resources being lost on intensive data management practices and poor data quality.

A typical data management framework

Identify

• Establish data domains, sources, contributors and consumers
• Utilise passive data governance reports as a barometer to gauge information and data readiness maturity.

Plan

• What are the roles, workflows and organisational approaches required to establish high-quality master data?
• Define and maintain a to-be data integration architecture

Deploy

• Reflect the plan phase through technological means
• Enforce rules and business standards that both regulate and prescribe the establishment of master record creation across the enterprise

Monitor

• Don’t let efforts slip
• Metrics to eradicate instances of pollution
• Monetise the value of clean data in supporting business outcomes
• Provide a means of collection on new data opportunities.

An alternative master data methodology that works

The approach to data management Bluestonex choose to pursue isn’t so much about the technology but more about the process and the people. This is why we encourage solution validation workshops where clients can get to understand their existing processes- who needs, uses and sends data, and where processes need to be introduced. By focusing on the human side of the processes can we understand how data flows through an organisation and thus, has been a very effective methodology.

Project Preparation

• Rapid deployment solutions
• Discovery workshops
• Clear objective outcomes

Lean Business Blueprint

Solution validation workshops for:

• Baseline scope and build
• Authorisation/ access
• Business rules
• Process definition
• Data modelling
• Process modelling
• Workflow management
• Knowledge transfer

Rapid build and integration phase

• Uni test
• Build
• Document
• Review
• Repeat

Final Prep

• UAT Testing
• Integration testing
• Further KT

Results of adopting an MDM solutions

• 85% Removal of forms
• 75% typical reduction of manually keyed entries
• 70% revised governance
• 65% Time/Date entry
• 60% Optimised processes
• 38% Typical fields populated by business rules on day one

Summary of how to get the best MDM Solutions

The best MDM solutions are the ones that have an emphasis on the process and people, for a better understanding of how the data is used. As such, you can’t just look at an MDM solution as software as a service (SaaS). For modern successful enterprises, the best MDM solutions go beyond the realms of software into the education of staff, the culture of the organisation and require workshops from users before the technology is even considered. Free MDM solutions, beyond these boundaries, create a culture for innovation.

Here are our top points for what the best MDM solution should include:

• Concentrate on the process, not technical data domains
• People are typically turned off by data. Help educate them in why it is so important to be a successful enterprise.
• Start small. Don’t boil the ocean with this. Choose a small objective to start. Choose the solution that provides the flexibility of buying objectives rather than the entire suite of applications, which you will never use.
• You don’t have to configure every business rule on day 1. Focus on the critical rules.
• Use a Hybrid agile approach.
• Quick deployment. Go for a solution that can be deployed with minimal impact on the existing landscape and doesn’t create a digital hardware footprint.
• Skill sets. Check your existing skills sets can manage deployment and support
• Scalable and future-proof. Go with MDM solutions that can keep up with innovation in your backend ERP systems. Make sure the technology if future-proof.
• Look at the cloud microservices. Areas of machine learning should be viewed as adding value once you have the basics in place
• Track your business case at the star, when the project is in flight and twice post the go-live data.