General Keys for Data Governance and MDM Initiatives
Posted: Tue Jan 21, 2025 10:28 am
In this post we highlight the importance of good joint planning of data governance and MDM projects.
Having quality business data implies good governance and management of the same. Its governance and administration, therefore, require the implementation of initiatives that allow achieving it.
Essential among these are master data management (MDM) projects and the implementation of data governance programs. Just as the former support the former, implementing a data governance program can emerge from the latter.
The importance of managing and governing information
The case studies are varied, but every organization needs overseas chinese in europe data management programs to increase the business value of information and, ultimately, improve the organization's results, reminds us Andrew White, researcher at Gartner. In this sense, master data management is key to achieving this.
Likewise, data governance programs are essential to drive improved business results. The adoption of a data governance program is necessary as a framework for action to carry out different types of initiatives, such as cost optimization, innovations or, for example, improving customer service.
Among others, the same MDM programs, usually applied to categories such as clients, products, accounts to centralize their management in a single master copy. In this way, we avoid information silos, high performance and availability in accessing and delivering data without barriers or latencies.
Data governance: How to perform an assessment?
Data governance and MDM support business strategy
With regard to an MDM solution , data governance is often part of its stages , although existing forms of data governance must be evaluated when designing the implementation plan for the solution we intend to apply.
If the data governance plan has been implemented previously, the MDM project will use it as a reference when designing its strategy. In practice, there will be feedback between both projects. In fact, improving the data governance model is one of the main benefits of an MDM solution, as it achieves better data management, reduces costs, improves data security, quality, enriches data, adapts data to regulations and makes processes more efficient.
Since MDM is often implemented in a phased manner, data governance will help develop a comprehensive approach to managing master data across the enterprise. As we have noted, it will serve as a framework for gradually approaching the project, expanding its scope under its parameters.
Having quality business data implies good governance and management of the same. Its governance and administration, therefore, require the implementation of initiatives that allow achieving it.
Essential among these are master data management (MDM) projects and the implementation of data governance programs. Just as the former support the former, implementing a data governance program can emerge from the latter.
The importance of managing and governing information
The case studies are varied, but every organization needs overseas chinese in europe data management programs to increase the business value of information and, ultimately, improve the organization's results, reminds us Andrew White, researcher at Gartner. In this sense, master data management is key to achieving this.
Likewise, data governance programs are essential to drive improved business results. The adoption of a data governance program is necessary as a framework for action to carry out different types of initiatives, such as cost optimization, innovations or, for example, improving customer service.
Among others, the same MDM programs, usually applied to categories such as clients, products, accounts to centralize their management in a single master copy. In this way, we avoid information silos, high performance and availability in accessing and delivering data without barriers or latencies.
Data governance: How to perform an assessment?
Data governance and MDM support business strategy
With regard to an MDM solution , data governance is often part of its stages , although existing forms of data governance must be evaluated when designing the implementation plan for the solution we intend to apply.
If the data governance plan has been implemented previously, the MDM project will use it as a reference when designing its strategy. In practice, there will be feedback between both projects. In fact, improving the data governance model is one of the main benefits of an MDM solution, as it achieves better data management, reduces costs, improves data security, quality, enriches data, adapts data to regulations and makes processes more efficient.
Since MDM is often implemented in a phased manner, data governance will help develop a comprehensive approach to managing master data across the enterprise. As we have noted, it will serve as a framework for gradually approaching the project, expanding its scope under its parameters.