De-Risking Master Data Management and Ensuring Project Success
As consistent, accurate data becomes more important to companies' core business objectives, many organizations are implementing master data management (MDM) strategies to improve the quality and usability of their data.
MDM initiatives fail regularly – and for a wide range of reasons. They frequently run over schedule and over budget, or they do not meet the quality levels required to support the business needs after the solution has been implemented in production. Many companies fail to properly plan for their initiatives and use generic integration and migration methodologies and technologies that are ill-suited to the specific needs of MDM. These failures can ultimately result in damage to the company’s brand image, decreased productivity, and lost revenue. Improving the effectiveness of MDM initiatives and reducing the associated risk is extremely important for ensuring that the organization’s business objectives associated with MDM can be met.