As I continue my conversations with Bob Bloom about his experience at the MDM Summit, one of the concepts that Bob heard over and over again at the conference is that a successful Master Data Management initiative involves the confluence of people, processes, and technology. While the MDM Summit was mainly focused on large enterprise organizations, it has been our experience that this is equally true for the Mid-Market Master Data Management systems as well.
People play a vital role in any successful Master Data Management application. The client needs someone who has a vision as to what they want to accomplish, has an understanding of their internal data and data systems, and has the time to dedicate to the MDM project. This could be one person or this could be a team of people. It has been our experience that the client needs one person who “owns” the Master Data Management system during the implementation as well as on an on-going basis. Then, there are others who can assist the company’s appointed Master Data Management specialist.
A good process is also fundamental to developing a Master Data Management solution. Here, this is one area where the client will typically need to look to an outside Master Data Management partner. Typically, an organization does not have experience in developing a Master Data Management system. Therefore, it is best to work with an outside organization that has been through the MDM territory and can provide guidance on the Discovery, Design, Prototype, and Implementation of a Master Data Management application.
Finally, the last piece in the puzzle is the tools. Master Data Management tools can vary greatly in data types that they are best suited to handle, time needed to configure systems, and the specific features that each system has developed to handle Master Data Management. Of course, there can also be a great difference in price as well. Regarding the Mid-Market, it’s important to use a tool that can meet your objectives without being overkill so that you can get a return on your investment in a reasonable amount of time.
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