MDM Stakeholders

To Whom It Matters Most: The MDM Stakeholders

Companies incorporate master data management solutions in their business, to achieve success and support the vision of their business. Though MDM solutions may seem simple, they involve loads of complexities that contribute towards success. There are various people involved as stakeholders, with their strategic moves and expertise, from the stage of inception to implementation.
These are the professionals who determine the success of the data management process. There are many stakeholders who play a major role in a successful implementation of tools and technology, and then there are a few specialists who actually steer the software towards ultimate success and productivity, as demanded by the business. The executive management, metadata analysts, application owners, information architects, data governance team and system developers are just a few of them.
A Chinese proverb says that the head should make all the important decisions; this concept too follows suit. The senior level executives are often in a position to take constructive actions that influence the growth of the business. As master data management involves turning business data of present systems into business information, the management takes the aid of this software to support their current business initiatives. Correct implementation allows for strategic application of the MDM software for long-term plans, and so, executive management should play a vital role in motivating their teams towards successful functioning of the MDM system.
The application owners and system developers play a major role in incorporating solutions that make an MDM project successful. Every application that is used in an MDM environment needs to be altered to support the functioning of master data. However, there are times when the owners and the developers feel reluctant to implement changes to their data management solutions, as they consider them unpredictable. This is because they are well versed with their current business applications and are afraid of losing out on its functionalities. Restructuring their views and customizing their strategy to suit the software aids in successful implementation.
Since master data management is a big and significant transition process, business clients act as indirect partners who collaboratively influence the role of the software, along with the executives and their team. Their inputs are of incredible value as they instigate on fully exploring the responsibilities and functionalities of the software, thereby benefiting the project. Ultimately, successful implementation would only be possible with the coordinated efforts of all direct and indirect stakeholders. The strategy used should support the already existing applications and a direct route approach should be avoided. Hence, maintaining a proper workflow in accordance with the data management system can ideally be a foolproof step towards successful project implementation.

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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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