Data
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Master data management is the practice of implementing a single source for data. It is common for organizations to replicate data in a large number of data sources. This tends to be overly complex and leads to operational inefficiencies and risks. Master data management is about creating a standard access point for suitable data. The following are common steps in implementing master data management.
Producers & ConsumersIdentifying the producers and consumers of data.MetadataAnalyzing the various data models that apply to each data entity to identify differences between sources.Data Stewards & CustodiansAssigning data stewards and data custodians as the business and technical owners of data.Data Governance ProgramLaunching a data governance council to make decisions. Data is surprisingly political and master data management requires a clear decision making structure.
Master Data DesignDesign the master data. This typically includes a common data model. However, some data virtualization approaches don't bother enforcing a traditional data model.Tool SetsMaster data management may require tools for collecting, staging, validating, transforming, normalizing, reconciliating, integrating, managing and governing data.
ImplementationImplementing the single source of data and updating producers and consumers to use it and contribute to it.ProcessesThe ongoing process of governing, managing and maintaining the master data.
Data
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