Enterprise Data Management

Guiding Principles That Guarantee Success In An Enterprise Data Management Strategy

 

“When the going gets tough, the tough get going.”

 
In the business world, every day presents new opportunities. We see new ideas, new horizons and a fresher approach to the world of financial and corporate transactions. Change is constant, but change is always welcome, if you’ve readied yourself first hand, for the coming change.

 

However, each passing day also increases the pressures of staying ahead in the race and doing better than the competition. This is where professionals step up their game. They take into consideration, the most important drivers of the business; ignoring the old, tested route and preferring instead, the one that will produce tangible results for the business. They see the organisation as a whole, and work hard to ensure the welfare and growth of the business.

 

One way visionaries propel their organisations is their ability to understand the value of organisational master data and how it can be utilised for tremendous progress in marketing, operations, procurement and overall compliance.

 

Here are some of the guiding principles followed by professionals that have consistently delivered tangible results. These principles will help you achieve success with your enterprise data management strategy as well:

 

With regards to the ‘People’ factor

An intelligent management team will know the importance of people in any data management process. They will always establish executive sponsorship from the very inception. It is a good practice to moderate staff behaviour to design and modify solutions, instead of simply building them. Always hire staff members who possess the skills required to create and maintain, new and improved information systems and foster a culture that gives data its due importance. Install a data governance leader and appoint data stewards for each data area.

 

Technology simply cannot be ignored

In a data management environment, overlooking the importance of technology is simply impossible. A knowledgeable management team will select technologies and create an implementation methodology on the basis of the utilisation of open, similar standards. Always establish foundation capabilities from the very beginning and give them utmost priority throughout the implementation process. Learn how to pay maximum attention to improved flexibility and try implementing re-use policies into the strategy.

 

Pointers to ensure a smooth flow of process

True data management pros will design process initiatives taking the organisation as a whole into consideration. Replicating the same with your implementation process will be a great step forward. Create a step-by-step approach which can be applicable across all departments such as strategy, operations and maintenance. Formulate a blueprint that allows for constant communication and appropriate implementation. Avoid excess detailing and maintain steady focus on achieving the next objective as soon as the previous one is completed.

 

Always maintain an organisational view through the implementation

A wider, full-fledged business view is a talent each data management expert should develop. You can impart this value to your thinking process as well. Start off by modelling your business at 3 basic levels and emphasise on the importance of infrastructure and information throughout the process. Maintain the perfect power balance between the three essential data management elements namely delivery, architecture and leadership.

 

Got any suggestions you’d like to add? Post a comment and let us know!
 
Recommended Reads:

Blog – Roadmap For Successful MDM Implementation

Blog – Re-Use MDM Best Practices for Big Data

White Paper – The Business Benefits of Material Master Data Management (MMDM)

White paper - Adopting UNSPSC

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Prathamesh Prabhu

Prathamesh Prabhu

Prathamesh Prabhu heads the Marketing department at Verdantis Inc. He holds the Master of Management Studies degree.

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