Taking advantage of the fact that I have recently received an update of the Gartner Magic Quadrant for Master Data Management, I have decided to write this article for the Abaco Developments Blog based on my experience as Project Director in the Construction of the Master of Clients of large multinationals such as Leroy Merlin and Melia Hotels.
Let's start with the most basic. What types of Data Masters are there? From highest to lowest recurrence in project types are as follows:
- Customer Master: It is undoubtedly the first Master to be adopted in a company. Clients form the “Core” of the business and is the first Master that is usually approached based on profitability criteria.
- Product master: even the smallest companies usually have a large number of references or SKUs (Stock Keeping Unit) that mainly make it difficult to unify the qualities of the product. It becomes especially important from the arrival of e-Commerce, at which time it is essential to communicate product information in an Omni-channel way.
- Other type of Masters: Providers, less frequently and generally linked to the Master of clients.
Having identified the type of Master our project refers to, who are the main actors that you should consider? This is the short list of what I consider to be the best providers in the MDM world:
- Informatica (https://www.informatica.com/): From my perspective, the most advanced and specialized company in the world of MDM.
- TIBCO Software (https://www.tibco.com/): Initially specialized in Data Integration, it has been taking leadership in this sector.
- Stibo Systyems (https://www.stibosystems.com/): A thriving company in the market, especially if we are talking about projects for Product Master.
Finally, also in a reduced list, these are the main factors to consider when approaching an MDM implementation project:
- The first of all would be to consider the possibility of building a pure customer master (with a specific tool) or reuse an internal company tool that serves as the company master (in my first instance, the company's CRM is usually taken and in second instance the ERP).
- Develop a clear data governance policy. It should be debated internally and seeking the ultimate good of the company (not that of particular departments).
- The previous point will derive in a series of rules to be implemented in the Golden Record module. This module is in charge of applying the definitions of data governance policy.
- It is practically essential to associate the MDM project with one of data historization. Otherwise the correct governance of the data will be impossible. Furthermore, since the implementation of the new European GRPD data protection policy, it is also very necessary for correct legal “Compliance”.
- Never forget, at the project cost level, that the project will surely involve adaptations of ALL the applications that connect to the Data Master.