DMBOK - ch 8 - Ref and Master Data Mgt

FINANCIAL master data

ERP

AFFILIATION Relationship

Establishment and maintenance of RELATIONSHIPS between master data records.

Master Data management

Identify or develop a GOLDEN RECORD of truth for key business entities.

DRIVERs for Reference and Master Data Management

Improve data QUALITY and INTEGRATION... Provide CONSOLIDATED 360 degree view of information about important business entities (Party, Product, Location, Financial Structure).

LOCATION master data

Location REFERENCE data includes geopolitical data - countries, states, provinces, counties... Location MASTER data includes business party addresses, geographic positioning coordinates, etc.

Reference Data Metadata may include..

Meaning and purpose of each reference data value domain. Reference tables and databases where the reference data appears. Source of the data in each table. Version currently available. When data was last updated. How the data in each table is maintained. WHO IS ACCOUNTABLE for the quality of the data and meta-data

HIERARCHICAL Relationships

Often formed between vocabulary terms, either as a KIND-OF or a PART-OF relationship.

Reference and Master Data Management is...

Ongoing RECONCILIATION and MAINTENANCE of reference and master data.

PRODUCT master data

PLM - Product lifecycle management systems, enable cross-process cost and legal agreements tracking as product concepts evolve from one idea to many potential products under different names and potentially different licensing agreements.

Master Data - Examples

Parties, Products, Financial Structures, Locations

Value Domain

Set of allowable data values

Ref and Master DM GUIDING PRINCIPLES

Shared data belongs to the ENTERPRISE, not to a department. Ref and MDM is ONGOING EFFORT. Business data stewards are AUTHORITIES ACCOUNTABLE for controlling reference data values. GOLDEN DATA VALUES represent org's best efforts at determining most ACCURATE, CURRENT, RELEVANT info about key contextual business entities. Replicate Master Data ONLY from DB of record.

Reference Data - Examples

State names, codes, MedDRA code, WHO Drug Code

Reference Data management

Stewards maintain LISTS OF VALID VALUES.

Master Data Management..

The process of defining and maintaining how master data will be CREATED, INTEGRATED, MAINTAINED, and USED throughout the enterprise.

Key ACTIVITES of Ref/Master Data Management

Understand Ref and Master Data Integration NEEDS. ID Ref and Master Data SOURCES and CONTRIBUTORS. Define and Maintain the Data Integration ARCHITECTURE. IMPLEMENT Ref and MDM SOLUTIONS Define and Maintain MATCH RULEs Establish GOLDEN RECORDs Define and Maintain HIERARCHIES and AFFILIATIONs Plan and Implement Integration of NEW DATA SOURCES REPLICATE and DISTRIBUTE ref and master data Manage CHANGES to ref and master data

Reference Data

Used to classify or categorize other data

Master Data Management CHALLENGES..

WHAT are the important business entities referenced REPEATEDLY? What data is describing THE SAME entity? WHERE is this data STORED? Which data is MORE ACCURATE? What data is RELEVANT for specific needs? What data from multiple sources can be INTEGRATED to create a more complete view and understanding of the thing? What business rules can be established to AUTOMATED matching, merging, etc.? How do we ID and restore data that was incorrectly matched/merged?

To share consistent Reference and Master data, orgs need to understand...

WHO needs WHAT info? What data is available from different sources? How does data from different sources DIFFER? How can inconsistencies be RECONCILED? How should most valid values be SHARED effectively and efficiently?

Primary Focus Areas of Master Data Management

1. IDENTIFICATION of duplicate records 2. RECONCILIATION across data sources and providing the golden record 3. ACCESS (provision of) to the golden data across applications.

Reference Data Management

Control over defined domain values, i.e. VOCABULARIES.

Master Data Management

Control over master data values to enable consistent, shared, contextual use across systems, of the most ACCURATE, CURRENT, RELEVANT version of truth about ESSENTIAL business entitites.

PARTY master data

Customer - CRM Employee/workforce - HRM

Master Data

Data about the business entities that provide CONTEXT FOR BUSINESS TRANSACTIONS.