The data foundation of your companies “house”
In the last months I have been keen on writing a lot of blog posts about Master Data and Master Data Management. The more you read them, the more you understand that I value Master Data Management as a real art and that I never underestimate the value of the aspects of master data and master data management. Too many organizations and people unfortunately do not or not yet. There is a lot of work to be done to create this awareness among those people and organizations. They suffer the costs and problems of inaccurate and faulty master data every day. It is my mission to convince everybody of the real value of master data management. It doesn’t matter if you are a multinational or a small domestic company. Your master data is the data foundation of success. Lets put it in perspective:
Imagine your house. The house you are living in right now with your family. It is the place that is safe and were you come home every night. This house has a foundation beneath your feet, a foundation that determines how solid your house really is. This foundation isn’t something you think about every day, but it is there. It will keep your house standing during storms and floats, without the foundation the house will drift away or collapses. Taking down every wall, the roof and shattering every window. Master data is this foundation.
Almost the whole foundation is beneath the ground you stand on. So is master data! It is there without you realizing that it is there and that it plays an important role. In the world of data management it is the same. The basics of your customer data is a part of your data foundation but also acknowledged as master data. The materials you use for creation of your product is partially master data. It is everywhere. The vendor you buy your materials from is an active account and has important components of master data.
The house will not survive heavy storms of floats when the foundation isn’t in place. So will your company. Be aware of the importance of Master Data and master data management. Create a data foundation that your company will help survive and gives the possibility to extend!