Master Data
Management Framework (MDM)
Master
data has become a critical discipline and process for
delivering effective business intelligence in any
organisation.
Without
it, BI efforts are difficult and often a waste of time.
Disillusioned users revert back to
reporting from their trusted spreadsheets.
The ironic thing is that users fixing
data for their spreadsheets to balance are actually cleaning
master data in a very
inefficient way as the process has to be repeated each
month.
There is a lack of master data strategy. No-one has
an enterprise perspective for data management and no clear direction
for integrating master data. The environment consists of
multiple customer masters, multiple integration points, and multiple
platforms which varies by line of business. There are also often
inadeqaute established processes for organisations for
governing master data, or monitoring and maintaining its data quality.
Prize 1 is to sort out the master data and maintain it.
Benefits of Master Data
Management
Reporting
o Improves the ability to
consolidate information
o Improves the reporting capabilities
o Improves the analytical capability of
the organisation (business intelligence)
o Improves the speed at which decision
making can be performed
Process
Efficiency
o Reduces the time to collect a collate
reports
o Reduces the time to reconcile
information
o Reduces IT development and maintenance
costs
o Shortens the cycle time for reporting
o Ensures silos within the organisation
are more aligned and improves teamwork
o Easier to implement future processes
and systems
o The business can adopt more quickly to
market or environment conditions
o Enables the business modelling
capabilities of the organisation e.g. what-if scenarios
o Creates consistency in the business and
makes it easier to identify business optimisation opportunities
Governance
o Easier to audit
o Controls key master data information
and improves the safeguarding of assets especially cash
Our Approach
Here are 5 keys to an effective master data management
framework:
1. Have a clear view of what master data is needed
for
which reports
/ KPIs
2. Set clearly defined data standards
3. Establish the Roles & Responsibilities of the master data owners
4. Design an efficient process
to add and modify master data
5. Maintain
Governance
through measuring master data quality.
KPI Management Solutions has some of the best master data
specialists in South Africa. Whether you have a Master data Management
Framework or you're setting out to develop one, we can assist in
setting you on the right road as quickly as possible.
For more information about Master Data Management kindly
complete
your contact details in the form provided below. We will
arrange to contact you to arrange a mutually convenient appointment to
demonstrate it to you.
