Master Data Management (MDM) is a cornerstone of many data integration efforts within an organization. Creating an MDM single source of truth within an organization is paramount to customer experience, compliance, reporting, and many other critical business operations. However, many organizations fail to anticipate or prepare for the most significant MDM hurdle, which is to derive business value from the golden data record once it is established. In essence, traditional “MDM is far from dead-but we need a modern approach to MDM … to weave together the governance and the management of master data, application data, and less-widely shared data, and just enough enterprise metadata management”.1
This modern approach must also address that much of the cost and efforts in an MDM undertaking are not developing the golden data records but in the subsequent curation and use of these golden data records.
Weaving golden data records with application data requires making the appropriate golden data records available to the source data systems. Traditional methods include master data synchronization, where source system master data is overwritten with enterprise curated master data from the MDM. Master data synchronization efforts are tedious labor-intensive, expensive, and in many cases, the source system owner objects to the automated overwriting of source system data values.
MDM requires compliance and governance throughout the enterprise to be successful. This compliance effort often results in resistance to change, turf-guarding, and infighting within the organization. These political and cultural shifts within the organization can be disruptive, costly, and ongoing.
Maxxphase Data Compatibility products seamlessly weave your data systems into a Compatible Data Fabric. The source system data records are now directly joined with the appropriate golden data records, and both master data versions are now available. Direct data sharing allows a business to utilize the golden data records without losing source system data ownership.
Direct data sharing is achieved at a fraction of the cost and effort of traditional master data synchronization, dramatically increasing the ROI of any MDM deployment. Direct data sharing delivers the cost-effective data governance leadership wants while providing the autonomy that source data system owners desire. The overall effect is to reduce opposition to an MDM effort significantly.