A successful master data management (MDM) strategy is about more than just the foundational technologies that support it. Although some of the needed solutions are critical – an MDM hub, data integration and data quality management, third-party content, and data governance – getting the “soft stuff” right is just as, if not more important.
The organizations most likely to succeed are those that take a more holistic approach to master data management, one that encompasses the following five areas:
- Corporate culture (organization design and change management)
- Process (business process redesign or re-engineering)
- Technology (MDM hub, data integration, and data quality)
- Information (third-party content)
- Data governance foundation
Focusing on these five areas will build momentum for your master data management project, and help you achieve a balanced approach that will yield faster results and ensure ongoing effectiveness.
Information Builders’ Omni-Gen™ platform is the technology portion of our MDM solution. In addition to robust features and capabilities, it also provides built-in best practices to help your organization manage the people and processes of your MDM implementations. Omni-Gen helps to enhance productivity and maximize operational performance by improving information accuracy and data exchange within your company and beyond.
Our new eBook, Five Things to Focus on for Faster MDM Results, provides more detail about these essential elements of your MDM program. Read it today to learn how you can reduce the risk of failure and put your MDM initiative on the path to success.