Master Data Management is a crucial part of any ERP implementation or consolidation project. It is a combination of legacy data cleansing & harmonization and on-going data management. The cleansing phase comprises Data Migration & Consolidation that sets the foundation for the Data Quality standards that an enterprise wants. Migration from disparate legacy systems is a daunting task that is fraught with time and high cost overruns. Any misstep can impact the Data Quality that in turn can hamper the operations of the organization.
On-going Data Management requires real-time prevention and check of data before it is added to the Master Data. It is in this phase that Data Governance and Data Stewardship come into the picture. A DG model with a clearly defined Data Stewardship - role and responsibilities - can become the defining point in the success or failure of the MDM initiative. Data Governance per se involves creating an intricate hierarchy that eventually defines the efficiency and dollar savings for the company.
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