Define Cross-Functional Team Roles In Master Data Management Strategies
MDM is a systematic process which ensures that the available master data can be defined and linked along with other related rules, regulations, definitions and meta data. Its ultimate goal is to create and regulate a high level of reliability and consistency throughout the data. With the help of MDM, a business can introduce processes that not only give business lines responsibility for the data assigned to each of them, but also deploy corporate business rules and practices that ensure smoother analysis of information. An MDM strategy can only prove fruitful if it contains the right mixture of processes, master data management software and qualified individuals who have immense experience in selecting, managing, implementing and maintaining the information in question without breaking a sweat.
In order to guarantee the success of the master data management initiative, it is imperative to assemble a knowledgeable team. The selected team should function in a cross-functional program, instead of a lateral method. This guarantees process efficiency, improved ROI and overall customer and stakeholder satisfaction. The roles and functions of the team should be laid down suitably, and proper duties and responsibilities of each member and individual should be explained thoroughly. Moreover, there must also exist, certain parameters for performance measurement. The team should be a perfect partnership of IT members who control and support the business's efforts across the corporation and business members who can regulate and manage the master data being provided.
In order to deem the project successful, the assigned MDM team must first look to determine the MDM business case. Post determination, it must then work towards selecting MDM solutions that suit current business requirements. The final stage consists of regular, on-going maintenance.
Here are a few roles that must be assigned to specific individual/s from both business and IT teams through the process:
In the Business team:
Information Steward – Collaborates with IT Data Steward. Establishes data quality objectives and calculates results and number of objectives completed.
Process Manager – Collaborates with System Manager from the IT Team. Defines MDM processes and manages them as well.
MDM Champion – Collaborates with IT Architect. Creates business MDM case. Also regulates buy-in from concerned business people and elements. Informs the business about the project and equips them with regular estimates and statistics.
In the IT Team:
Data Steward – Identifies which data quality elements need fixing. Maintains high levels of data quality and guarantees that the solutions work in tandem with business data governance rules and regulations.
System Manager – Stays in regular contact with the master data management vendors to guarantee that the employed solutions are compatible with current IT platforms.
IT Architect – Is mainly responsible for designing the basic enterprise-level strategy for MDM apps and also ensures that all the individuals involved in the initiative, always stick to the current MDM process.
Jessica Banks is a well-known MDM expert at one of the largest master data management vendors. Her work is appreciated by top professionals across the globe.
