Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems announces the completion of its recent article that sheds light on three steps that are crucial to succeed in your master data management initiatives.
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Three steps to get started with master data management (Graphic: Business Wire)
Enterprises often miscalculate the complexity, cost and, level of teamwork required for a successful master data management program. Which is why they fail. Request a FREE proposal to learn how we can help you deploy a fail-proof master data management framework.
Poor data quality is the unintended consequence of data silos and a lack of data and analytics governance. The siloed nature of data sets can results in suboptimal decision making and poor organizational performance if left unattended. With data volumes increasing, leading enterprises are now considering master data management (MDM) as a solution to put an end to all their data management woes. Since master data management offers an enterprisewide trusted view of critical data about customers, citizens, employees, patients or products. It is now being considered as the go-to solution for tackling data related to complexities faced by businesses today. Amidst its increasing adoption, its crucial to note master data management is a complex undertaking and those who wish to leverage it must make an informed decision on readiness before large scale adoption.
Deploying a data management platform is not an easy task but involves several complexities. Speak to an analytics expert to figure out how we can help.
“Evaluate readiness at an enterprise-level before you adopt an enterprise MDM solution by analyzing your culture, data and analytics maturity, and the ability to support new initiatives required for cross-organizational collaboration,” says a big data analytics expert at Quantzig.
Three steps to get started with master data management:
Step 1: Evaluate organizational readiness
Master data management initiatives often fail when businesses don’t ensure organizational readiness before starting. To avoid such failures, its crucial to analyze readiness at an enterprise-level even before leveraging such solutions.
Step 2: Identify use cases and the need for MDM
Determine if master data management is the right response to the problem at hand. At times, solutions to your data management challenges may revolve around organizational restructuring or business process reengineering.
Step 3: Keep the benefits in mind
Considering the challenges faced by businesses in today’s world, master data management is inevitable, regardless of when and how it is being approached. A master data management platform is not just a strategic necessity for businesses but is becoming a crucial aspect of all successful enterprise-wide master data management programs.
Considering these three steps is crucial to gauge your organization’s readiness and analyze if master data management is the best approach to your current problems. Schedule a FREE demo to gain complimentary access to our advanced master data management platform.
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal