Master Data Management (MDM)
As organizations become increasingly information-centric, it has become vital to have authoritative, unambiguous access across enterprise-wide sources of critical business data. This data may include information about customers, products, employees, suppliers, etc. Without such visibility, it becomes impossible to accurately answer questions such as: “What products does my customer have?” or “What materials do my suppliers provide?”
These key information sources, along with the vital data contained within them, are known to make up an organization’s Master Data and the manner in which it is curated is known as Master Data Management (MDM). MDM comprises the set of processes, governance controls, policies, standards and tools that consistently define and manage the master data across the enterprise.
While the intrinsic value of MDM can be captured in a few simple sentences, its implementation is anything but straightforward. Despite the claims of vendors in this space, technology is only an enabler (albeit an essential one). Success with MDM depends on the customization of the above mentioned processes, policies, and standards, which must be adapted to suit each individual organization and then be rigorously monitored and adjusted toward maturity.
MDM and Big Data
Knowledgent is helping many of the world’s largest companies deploy Big Data capabilities that leverage advanced information management technologies and data science methods to rapidly produce new business insights. Knowledgent views MDM as a foundational enabler of Big Data and a necessary control point within a Big Data architecture. MDM provides a cleansed, trusted source of common enterprise data that is often the basis for advanced analytics.
In turn, big data and semantic techniques can be utilized to append the MDM system with data mined from new sources such as social media and unstructured content. This capability provides the means to both govern and control new sets that are being ingested into the analytics architecture and to seed projects with new data sets that provide the foundation for enriched analysis.
MDM is a Knowledgent core competency. Past engagements have included some of the largest and most complex MDM deployments for clients across multiple industries. With this experience, Knowledgent brings a comprehensive understanding of MDM best practices to our clients and guides them through the process to avoid pitfalls and risks that trap less experienced vendors.
Knowledgent provides a complete set of MDM related services that include:
- MDM Strategy: Helps firms recognize data challenges and outlines an actionable plan to overcome complexities with MDM processes and technologies
- MDM Implementation Services: Implements a firm’s chosen MDM solution and integrates these tools into their enterprise application architecture and business processes by developing a platform that is fit-for-purpose and scalable
- MDM Implementation Advisory Services: Helps those clients who choose a primary delivery partner other than Knowledgent, leveraging Knowledgent’s deep MDM experience for implementation oversight and validation to reduce risk
- MDM Assessment: Evaluates existing MDM implementations to help clients understand their environments and provides guidance on maximizing additional value from MDM and other major information management investments
- MDM Vendor Selection: Helps firms choose the right MDM vendor solution for their unique requirements by evaluating a diverse and constantly expanding ecosystem through the lens of the capabilities and methods of use that make sense for the organization