With today’s explosive data growth from an ever-expanding array of sources, organizations are clearly paying greater attention to the discipline of master data management (MDM) and its role in helping to run, grow and transform businesses. However, where data and analytics leaders fall short is in communicating where and how MDM can deliver clear business value.
For any ‘data-driven’ business leader, Gartner’s ‘Where and How MDM Adds Value to the Business’ report is a must-read as it sheds light with seven distinct business scenarios on how to tie MDM to key business drivers to gain end users’ commitment.
Gartner cites “MDM alone is not sufficient to create a world-class or globally dominant business strategy — but it is quite challenging to create and sustain such a strategy or position without the enablement and support of the MDM discipline.”
Among the key Gartner recommendations for those managing data and analytics programs include the following:
- Create a causal link between key business drivers and MDM, by identifying how a trusted view of master data enables business goals of running, growing and transforming the business.
- Use the MDM scenarios in this research to help you identify possible value for your business when aligning MDM with business drivers, and when tying higher-level business cases to MDM-based improvements.
- Use an MDM business case framework to gather and categorize metrics that support business engagement and prioritization, and to minimize external disruptions.
Failure to align MDM to business drivers will result in multiple serious barriers to success that can easily derail an MDM program. These barriers include lack of business engagement, inability to develop measurable business-oriented key performance indicators (KPIs), discontinuity of executive sponsorship, and contention for funding with other business initiatives.
With the right MDM discipline, data and analytics leaders will get to the ‘‘golden version of truth’ needed to attain actionable insights to inform the business. Download the Gartner report to learn more about the seven business scenarios and how they derive value from MDM to run, grow and transform their businesses.
Where and How MDM Adds Value to the Business, Bill O’Kane, Simon James Walker, 26 June 2017