Today, any organization deals with more variety and volume of data. Virtually every business process these days is either automated or assisted by technology. Additionally, more regulations and compliance requirements (e.g., HIPAA, HITECH) make tighter control of data a requirement. This makes it more imperative for organizations to break down system silos and gain a “360 degree view” of all the organization’s data. Since key data elements, “Master Data”, are used across multiple systems, an error can have significant and far-reaching consequences.
To identify a Master Data Management implementation plan, the netlogx team implements the following:
- Identify the Systems of Entry (SoE) – these are the transactional source systems that generate the master data management (e.g., customer registration)
- Master Data Management Tools – intake the source data and determines when updates, additions and deletions are needed. These changes are populated back to the related systems.
- Master Data Store – This is the repository that is the system of record for analytics sources like a data warehouse. This is also versioned to contain history of changes in the master data.
The implementation of Master Data Management Tools and Processes can be a significant change for system owners due to a perception of loss of control over data. The netlogx team approaches the organizational change by phasing in the introduction of Master Data Management. Often times, historical data will need to be matched, cleaned or disabled (when incorrect or outdated). netlogx identifies the system, process or data with the most value to be gained to implement first. Using the success from the first phase can build momentum across the organization.
Due to Master Data’s inherent span across various systems and departments, it’s often easier to start a Master Data Management strategy from an outside, objective source. Since the data often impacts various areas and processes, netlogx can leverage SME’s while not burdening them with many of the implementation details. The result is a solid foundation for effectively managing Master Data while maintaining day-to-day operations with existing staff.