MDM Solutions - Key Criteria
An MDM solution needs to enable business users to quickly gain global visibility and access to key data stored in multiple and disparate legacy applications. Your organization needs to monitor and measure this data in order to produce accurate metrics and global data standards – requirements to maintain a high level of quality and consistency in your global data. With a solid MDM solution, global data standards can be applied to data that is hosted by multiple applications providing Business-Ready Data™ regardless of which (or how many) ERP systems your company has in place.
"Approximately 30 percent of the trouble tickets a help desk gets from an ERP system can be traced back to problems with master data,” according to Bill Swanton, VP of research, AMR Research. "When you get into supply chain planning, that number rises to 80 percent."
"Data Governance to the Rescue"
NetWeaver Magazine, 2006
A sound MDM Solution should help eliminate costly development time and capitalize on existing systems rather than replacing them, or expending budget on user retraining. The best solution allows your organization to find any customer, vendor, employee or material regardless of the source system, including from systems such as SAP, Oracle EBS, J.D. Edwards or BPCS. Business users need to find and track duplicate materials, customers or vendors, all from the same easily accessible, web enabled screen.
Using MDM to achieve a successful Data Governance process enables your organization to:
- Eliminate risk of information inaccuracy occurring from erroneous data standards, descriptions and definitions
- Reduce financial losses caused by backlogged reporting, data latency and data redundancy
- Improve compliance through repeatable and proven data management methodologies
- Improve customer value through real-time and conclusive information on interactions, relationship and history
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Hear what Eli Lilly says about Active Data Governance |
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Hear what Johnson & Johnson Consumer Goods says about Active Data Governance |
You can achieve these goals in a short amount of time and with little-to-no disruption to your business, while your Data Governance process is established. According to Tom Kennedy, CTO & Founder, BackOffice Associates, LLC, businesses need to rethink MDM:
"Achieving one view of the truth can be a short journey requiring virtually no development or retraining of end users," says Kennedy. "The choice is simple: attempt to build a dream for the ever-changing future – or get global visibility today."
Achieve complete global visibility to data in 90 days or less with MDMb®
Technology Tips
- Think about whether your organization should create a Data Governance process from the ground up, or if it needs to retrofit to existing processes in place. Read “What Data Governance Model is Right for Your Company?”
- Buying a packaged MDM application does not solve your Data Governance process needs – a true Data Governance solution relies on both process and technology.
- Sustainable Data Quality is one aspect of your Data Governance process. Solving your data quality problems does not create a Data Governance solution. Read "Data Quality is a BackOffice Associates Specialty"
- Be aware of signs that your data governance is amiss: Read "Business Process, Interrupted"
Read more about our Data Governance Methodologies and FOCUS on MDM.
To learn more about our products and solutions, contact us.
