This presentation provides you with an understanding of the goals of reference and master data management (MDM), including establishing and implementing authoritative data sources, establishing and implementing more effective means of delivery data to various business processes, as well as increasing the quality of information used in organizational analytical functions (such as BI). You will understand the parallel importance of incorporating data quality engineering into the planning of reference and MDM.
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Data-Ed: Business Value From MDM
1. Copyright 2013 by Data Blueprint
Unlocking Business Value Through Reference & Master Data Management
In order to succeed, organizations must realize what it means to
utilize reference and MDM in support of business strategy. This
presentation provides you with an understanding of the goals of
reference and MDM, including the establishment and
implementation of authoritative data sources, more effective means
of delivering data to various business processes, as well as
increasing the quality of information used in organizational analytical
functions, e.g. BI. We also highlight the equal importance of
incorporating data quality engineering into all efforts related to
reference and master data management.
Learning Objectives
•What is Reference & MDM and why is it important?
•Reference & MDM Frameworks and building blocks
•Guiding principles & best practices
•Understanding foundational reference & MDM concepts based
on the Data Management Body of Knowledge (DMBOK)
•Utilizing reference & MDM in support of business strategy
Date: February 10, 2015
Time: 2:00 PM ET/11:00 AM PT
Presenter: Peter Aiken, Ph.D.
1
PETER AIKEN WITH JUANITA BILLINGS
FOREWORD BY JOHN BOTTEGA
MONETIZING
DATA MANAGEMENT
Unlocking the Value in Your Organization’s
Most Important Asset.
The Case for the
Chief Data Officer
Recasting the C-Suite to Leverage
Your MostValuable Asset
Peter Aiken and
Michael Gorman
PETER AIKEN WITH JUANITA BILLINGS
FOREWORD BY JOHN BOTTEGA
MONETIZING
DATA MANAGEMENT
Unlocking the Value in Your Organization’s
Most Important Asset.
The Case for the
Chief Data Officer
Recasting the C-Suite to Leverage
Your MostValuable Asset
Peter Aiken and
Michael Gorman
PETER AIKEN WITH JUANITA BILLINGS
FOREWORD BY JOHN BOTTEGA
MONETIZING
DATA MANAGEMENT
Unlocking the Value in Your Organization’s
Most Important Asset.
The Case for the
Chief Data Officer
Recasting the C-Suite to Leverage
Your MostValuable Asset
Peter Aiken and
Michael Gorman
3. Copyright 2013 by Data Blueprint
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4. Copyright 2013 by Data Blueprint
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5. The Case for the
Chief Data Officer
Recasting the C-Suite to Leverage
Your MostValuable Asset
Peter Aiken and
Michael Gorman
PETER AIKEN WITH JUANITA BILLINGS
FOREWORD BY JOHN BOTTEGA
MONETIZING
DATA MANAGEMENT
Unlocking the Value in Your Organization’s
Most Important Asset.
Peter Aiken, Ph.D.
• 30+ years of experience in data
management
• Multiple international awards &
recognition
• Founder, Data Blueprint (datablueprint.com)
• Associate Professor of IS, VCU (vcu.edu)
• (Past) President, DAMA Int. (dama.org)
• 9 books and dozens of articles
• Experienced w/ 500+ data
management practices in 20 countries
• Multi-year immersions with
organizations as diverse as the
US DoD, Nokia, Deutsche Bank, Wells
Fargo, Walmart, and the
Commonwealth of Virginia
5
Copyright 2015 by Data Blueprint
The Case for the
Chief Data Officer
Recasting the C-Suite to Leverage
Your MostValuable Asset
Peter Aiken and
Michael Gorman
6. Unlock Business Value
Through Reference & Master Data Management
10124 W. Broad Street, Suite C
Glen Allen, Virginia 23060
804.521.4056
7. Copyright 2013 by Data Blueprint
• Data Management Overview
• What is Reference and MDM?
• Why is Reference and MDM important?
• Reference & MDM Building Blocks
• Guiding Principles & Best Practices
• Take Aways, References & Q&A
Unlocking Business Value Through Reference & Master Data Management
Tweeting now:
#dataed
7
Tweeting now:
#dataed
8. UsesReuses
What is data management?
8
Copyright 2015 by Data Blueprint
Sources
Data Governance
Data
Engineering
Data
Delivery
Data
Storage
Specialized Team Skills
Understanding the current
and future data needs of an
enterprise and making that
data effective and efficient in
supporting
business activities
Aiken, P, Allen, M. D., Parker, B., Mattia, A.,
"Measuring Data Management's Maturity:
A Community's Self-Assessment"
IEEE Computer (research feature April 2007)
Data management practices connect
data sources and uses in an
organized and efficient manner
• Storage
• Engineering
• Delivery
• Governance
When executed,
engineering, storage, and
delivery implement governance
Note: does not well-depict data reuse
10. You can accomplish
Advanced Data Practices
without becoming proficient
in the Foundational Data
Management Practices
however this will:
• Take longer
• Cost more
• Deliver less
• Present
greater
risk
(with thanks to Tom DeMarco)
Data Management Practices Hierarchy
Advanced
Data
Practices
• MDM
• Mining
• Big Data
• Analytics
• Warehousing
• SOA
Foundational Data Management Practices
10
Copyright 2015 by Data Blueprint
Data Platform/Architecture
Data Governance Data Quality
Data Operations
Data Management Strategy
Technologies
Capabilities
11. Maintain fit-for-purpose data,
efficiently and effectively
DMM℠ Structure of
5 Integrated
DM Practice Areas
11
Copyright 2015 by Data Blueprint
Manage data coherently
Manage data assets professionally
Data architecture
implementation
Data engineering
implementation
Organizational support
12. Copyright 2013 by Data Blueprint
The DAMA Guide to the Data Management Body of Knowledge
12
Data Management Functions
Published by DAMA
International
• The professional
association for Data
Managers (40
chapters worldwide)
DMBoK organized
around
• Primary data
management functions
focused around data
delivery to the
organization
• Organized around
several environmental
elements
13. Copyright 2013 by Data Blueprint
What is the CDMP?
• Certified Data Management Professional
• DAMA International and ICCP
• Membership in a distinct group made up
of your fellow professionals
• Recognition for your specialized
knowledge in a choice of 17 specialty
areas
• Series of 3 exams
• For more information, please visit:
– http://www.dama.org/i4a/pages/
index.cfm?pageid=3399
– http://iccp.org/certification/designations/
cdmp
13
#dataed
14. Copyright 2013 by Data Blueprint
• Data Management Overview
• What is Reference and MDM?
• Why is Reference and MDM important?
• Reference & MDM Building Blocks
• Guiding Principles & Best Practices
• Take Aways, References & Q&A
Unlocking Business Value Through Reference & Master Data Management
Tweeting now:
#dataed
14
Tweeting now:
#dataed
16. Copyright 2013 by Data Blueprint
16
• Gartner holds that MDM is a
discipline or strategy
– "… where the business and the IT organization work
together to ensure the uniformity, accuracy, semantic
persistence, stewardship and accountability of the
enterprise's official, shared master data."
– Master data is the enterprise's official, consistent set
of identifiers, extended attributes and hierarchies.
– Examples of core entities are:
• Parties (e.g., customers, prospects, people, citizens, employees,
vendors, suppliers and trading partners)
• Places (e.g., locations, offices, regional alignments and
geographies) and
• Things (for example, accounts, assets, policies, products and
services).
MDM Definition
17. Copyright 2013 by Data Blueprint
Wikipedia: Golden Version
• In software development:
– The Golden Master is usually the RTM (Released to
Manufacturing) version, and therefore the commercial
version. It represents the development stage of
"RTM" (Released To Manufacturing), often referred to as
"going gold", or "gone golden".
– Often confused with "gold master" which refers to a
physical recording entity such as that sent to a
manufacturing plant.
• In data management:
– It is the data value representing the "correct" answer to the
business question
• Definition-Reference/Master Data Management
– Planning, implementation and control activities to ensure
consistency with a "golden version" of contextual data
values.
17
18. Wikipedia: Golden Version
18
Copyright 2015 by Data Blueprint
• In software development:
– The Golden Master is usually the
RTM (Released to Manufacturing)
version, and therefore the
commercial version. It represents
the development stage of
"RTM" (Released To
Manufacturing), often referred to
as "going gold", or "gone golden"
• In data management:
– It is the data value representing
the "correct" answer to the
business question
19. Copyright 2013 by Data Blueprint
Definition: Reference Data Management
Control over defined domain values (also known as
vocabularies), including:
• Control over standardized terms, code values and other
unique identifiers;
• Business definitions for each value, business relationships
within and across domain value lists, and the;
• Consistent, shared use of
accurate, timely and
relevant reference data
values to classify and
categorize data.
19
21. Copyright 2013 by Data Blueprint
Definition: Master Data Management
Control over master data
values to enable
consistent, shared,
contextual use across
systems, of the most
accurate, timely and
relevant version of truth
about essential business
entities.
21
23. – as opposed to mobile device management
• Gartner holds that MDM is a discipline or strategy
– "… where the business and the IT organization work
together to ensure the uniformity, accuracy, semantic
persistence, stewardship and accountability of the
enterprise's official, shared master data"
• Sold as solution
• Official, consistent set of identifiers - examples of these core
entities include:
– Parties (customers, prospects, people, citizens, employees, vendors, suppliers,
trading partners, individuals, organizations, citizens, patients, vendors, supplies,
business partners, competitors, students, products, financial structures *LEI*)
– Places (locations, offices, regional alignments, geographies)
– Things (accounts, assets, policies, products, services)
• Provide context for transactions
• From the term "Master File"
Master Data Management Definition
23
Copyright 2015 by Data Blueprint
25. Copyright 2013 by Data Blueprint
• Data Management Overview
• What is Reference and MDM?
• Why is Reference and MDM important?
• Reference & MDM Building Blocks
• Guiding Principles & Best Practices
• Take Aways, References & Q&A
Unlocking Business Value Through Reference & Master Data Management
Tweeting now:
#dataed
25
Tweeting now:
#dataed
26. Copyright 2013 by Data Blueprint
Reference Data Facts 2012
• Home-grown reference data solutions predominate,
putting institutions at risk for meeting regulatory
constraints
• Risk management is seen as a more important
business driver for improving data quality than cost
26
Source: http://www.igate.com/22926.aspx
• Global industry-wide survey of
reference data professionals
• Results show: Poor quality of
reference data continues to
create major problems for
financial institutions.
27. Copyright 2013 by Data Blueprint
Reference Data Facts 2012, cont’d
• Despite recommended practices of centralizing
reference data operations, 31% of the firms surveyed
still manage data locally
• New and changing regulatory requirements have
prompted many financial service companies to re-
evaluate their reference data strategies. To prepare
for new regulations,
nearly 62% of survey
respondents are planning
to extend or customize
their reference data
systems during 2012 and 2013.
27
Source: http://www.igate.com/22926.aspx
28. Copyright 2013 by Data Blueprint
Interdependencies
28
Data Governance
Master DataData Quality
29. Copyright 2013 by Data Blueprint
Inextricably intertwined
29
Organized Knowledge 'Data'
Improved Quality Data
Data Organization Practices
Operational Data
Data Quality
Engineering
Master Data
Management
Practices
Suspected/
Identified
Data
Quality
Problems
Routine Data Scans
Master Data Catalogs
Routine Data Scans
Knowledge
Management
Practices
Data that might benefit from
Master Management
Sources( (
Metadata(Governance(
(
Metadata(
Engineering(
(
Metadata(
Delivery(
Uses(
Metadata(Prac8ces((dashed lines not in existence)
Metadata(
Storage(
30. Copyright 2013 by Data Blueprint
Interactions
30
Improved Quality Data
Master
Data
Monitoring
Data
Governance
Practices
Master Data
Management
Practices
Governance
Violations
Monitoring
Data Quality
Engineering
Practices
Data
Quality
Monitoring
Monitoring
Results:
Suspected/
Identified
Data
Quality
Problems Data
Quality
Rules
Monitoring
Results:
Suspected/
Master
Data &
Characteristics
Routine
Data
Scans
Master
Data
Catalogs
Governance
Rules
Routine
Data
Scans
Monitoring
Rules
Focused
Data
Scans
Operational Data
Data
Harvesting
Quality
Rules
31. Copyright 2013 by Data Blueprint
Payroll Application
(3rd GL)Payroll Data
(database)
R& D Applications
(researcher supported, no documentation)
R & D
Data
(raw) Mfg. Data
(home grown
database)
Mfg. Applications
(contractor supported)
Finance
Data
(indexed)
Finance Application
(3rd GL, batch
system, no source)
Marketing Application
(4rd GL, query facilities,
no reporting, very large)
Marketing Data
(external database)
Personnel App.
(20 years old,
un-normalized data)
Personnel Data
(database)
31
Multiple Sources of (for example) Customer Data
32. Copyright 2013 by Data Blueprint
Vocabulary is Important-Tank, Tanks, Tankers, Tanked
32
36. Copyright 2013 by Data Blueprint
"180% Failure Rate" Fred Cohen, Patni
36
http://www.igatepatni.com/bfs/solutions/payments.aspx
37. Copyright 2013 by Data Blueprint
MDM Failure Root-Causes
• 30% of MDM programs are regarded as failures
• 70% of SOA projects in complex, heterogeneous environments
had failed to yield the expected business benefits unless MDM is
included
• Root-causes of failures:
– 80% percent of MDM initiatives fail because of ineffective leadership,
underestimated magnitudes or an inability to deal with the cultural impact of the
change
– MDM was implemented as a technology or as a project
– MDM was an Enterprise Data Warehouse (EDW) or an ERP
– MDM was an IT Effort
– MDM is separate to data governance and data quality
– MDM initiatives are implemented with inappropriate technology
– Internal politics and the silo mentality impede the MDM initiatives
37
38. Copyright 2013 by Data Blueprint
Automating Business Process Discovery (qpr.com)
38
Benefits
• Obtain holistic perspective on
roles and value creation
• Customers understand and value
outputs
• All develop better shared
understanding
Results
• Speed up process
• Cost savings
• Increased compliance
• Increased output
• IT systems documentation
48. Copyright 2013 by Data Blueprint
• Data Management Overview
• What is Reference and MDM?
• Why is Reference and MDM important?
• Reference & MDM Building Blocks
• Guiding Principles & Best Practices
• Take Aways, References & Q&A
Unlocking Business Value Through Reference & Master Data Management
Tweeting now:
#dataed
48
Tweeting now:
#dataed
50. Copyright 2013 by Data Blueprint
10 Best Practices for MDM
1. Active, involved executive sponsorship
2. The business should own the data
governance process and the MDM or
CDI project
3. Strong project management and
organizational change management
4. Use a holistic approach - people,
process, technology and information:
5. Build your processes to be ongoing
and repeatable, supporting continuous
improvement
50
Source:http://www.mdmsource.com/master-data-management-tips-best-practices.html
51. Copyright 2013 by Data Blueprint
10 Best Practices for MDM, cont’d
6. Management needs to recognize the
importance of a dedicated team of
data stewards
7. Understand your MDM hub's data
model and how it integrates with your
internal source systems and external
content providers
8. Resist the urge to customize
9. Stay current with vendor-provided
patches
10.Test, test, test and then test again.
51
Source:http://www.mdmsource.com/master-data-management-tips-best-practices.html
52. Copyright 2013 by Data Blueprint
• Data Management Overview
• What is Reference and MDM?
• Why is Reference and MDM important?
• Reference & MDM Building Blocks
• Guiding Principles & Best Practices
• Take Aways, References & Q&A
Unlocking Business Value Through Reference & Master Data Management
Tweeting now:
#dataed
52
Tweeting now:
#dataed
53. Copyright 2013 by Data Blueprint
15 MDM Success Factors
1. Success is more likely and
more frequently observed once
users and prospects
understand the limitations and
strengths of MDM.
2. Taking small steps and
remaining educated on where
the MDM market and
technology vendors are will
increase longer-term success
with MDM.
3. Set the right expectations for
MDM initiative to help assure
long-term success.
4. Long-term MDM success
requires the involvement of the
information architect.
5. Create a governance
framework to ensure that
individuals manage master data
in a desirable manner.
6. Strong alignment with the
organization's business vision,
demonstrated by measuring the
program's ongoing value, will
underpin MDM success.
7. Use a strategic MDM
framework through all stages of
the MDM program activity cycle
— strategize, evaluate, execute
and review.
53
[Source: unknown]
54. Copyright 2013 by Data Blueprint
15 MDM Success Factors
54
8. Gain high-level business
sponsorship for the MDM
program, and build strong
stakeholder support.
9. Start by creating an MDM
vision and a strategy that
closely aligns to the
organization’s business vision.
10.Use an MDM metrics hierarchy
to communicate standards for
success, and to objectively
measure progress.
11.Use a business case
development process to
increase business
engagement.
12.Get the business to propose
and own the KPIs; articulate
the success of this scenario.
13.Measure the situation before
and after the MDM
implementation to determine
the change.
14.Translate the change in metrics
into financial results.
15.The business and IT
organization should work
together to achieve a single
view of master data.
[Source: unknown]
55. Seven Sisters (from British Telecom)
http://www.datablueprint.com/thought-leaders/peter-aiken/book-monetizing-data-management/ [Thanks to Dave Evans]
Copyright 2013 by Data Blueprint
55
57. Copyright 2013 by Data Blueprint
Questions?
57
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