9 Challenges that can ruin your MDM implementation
Master Data Management a common term in business. The most of us know what we mean when we say Master Data Management. However implementing a sustainable Master Data Management strategy is a different story with enough challenges to overcome. I created a list with the 9 main challenges that can ruin a Master Data Management implementation. Do you recognize them?
Complex current situations
In multiple years that companies exist and grow they collect systems. In each of these systems data is stored and maintained and as you could expect this overlap is seen as a real obstacle within Master Data Management that has to be tackled.
Sponsorship from preferably c-level or senior management is a crucial element for success. The decision maker must stand behind the goal and knows the importance of the project. This will be
A Master Data model is usually not clear or not yet in place. So defining the model with different layers of first-tier, second-tier master data or meta-data is crucial to make integration of master data more simple and understandable.
Talent and Knowledge
Master Data Management is not just a “project”. Master Data Management should be considered as the backbone of organizations. Combining knowledge from experienced people and young talent helps to deliver a structure and the result you are aiming for. Get a “balanced” team in place whom have the capabilities to do the job.
Setting the standard
Creating a standard is one of the most difficult challenges within Master Data Management. Because the standard is a common agreement within the organization and the standard must be adaptable within different departments of the company.
In the world of Master Data Management tooling is getting more crucial every day but how do you select the right one? What is the purpose and goal of this toolset? Think clear and think about the future needs for your company.
The Why Question
The importance of “why” is often misunderstood. It is critical to get everyone on board and provide them with knowledge of the importance of Master Data Management. Empower the business and the people to get them fully understand the benefits.
Master Data Management can be complex just by being master data. Just look at modelling and standards within your own master data. Clear policy and business rules around Master Data take out complexity. Introduce governance to get a clear overview of responsibilities.
Go back to start
Where do you start with the management of master data? Create a starting point for is the first important thing to do. Did you make the right preparations? Is everything in place to take on with “professional” Master Data Management? If not, do not hesitate to go back to start and draw the new sketch
Above you will find the nine most common challenges known to companies. Do you want to add yours? Feel free to comment