The definition provided in the DAMA Data Management Body of Knowledge “Data management is the development, execution and supervision of plans, policies, programs and practices that control, protect, deliver and enhance the value of data and information assets.
The concept of “Data Management” arose in the 1980s as technology moved from sequential processing (first cards, then tape) to random access processing. Since it was now technically possible to store a single fact in a single place and access that using random access disk, those suggesting that “Data Management” was more important than “Process Management” used arguments such as “a customer’s home address is stored in 75 (or some other large number) places in our computer systems.” During this period, random access processing was not competitively fast, so those suggesting “Process Management” was more important than “Data Management” used batch processing time as their primary argument. As applications moved into real-time, interactive applications, it became obvious to most practitioners that both management processes were important. If the data was not well defined, the data would be mis-used in applications. If the process wasn’t well defined, it was impossible to meet user needs.
Master Data Management
Dynamic markets and rapidly changing environmental conditions give modern companies the opportunity to achieve competitive advantages. At the same time, however, companies are under constantly increasing pressure, trying to adapt to altered trading conditions and a high level of market dynamism. This is why business processes need to be harmonized and optimized, in order to meet economic conditions and legal requirements. The basis for efficient business processes is the permanent availability of high quality master data. The key to this is a holistic Master Data Management.
But what exactly is Master Data Management? Master data are a critical resource for any company – nevertheless, companies rarely succeed in gaining a comprehensive overview of them. This is because the data are spread across several systems in different company departments. Master Data Management helps to prepare these data qualitatively, and make strategic use of them for the company’s benefit. A strategic concept for Master Data Management defines stable master data governance, a data model, the appropriate IT systems, and the corresponding processes for compiling, maintaining and assuring the quality of master data.
High quality master data increase the efficiency and flexibility of business processes, guaranteeing the smooth flow of global business processes through real-time availability and compliance with globally valid standards. Master Data Management is indispensable in order to be able to meet compliance requirements and carry out meaningful Business Intelligence evaluations.
Alliance Global Tech has developed a comprehensive approach to Master Data Management, which defines the necessary processes, organization and governance structure, data models and technologies via a long-term Master Data Management strategy. We provide you with individual support in all phases of your master data project, from strategy to concept design and the technical implementation. Contact us
Our integrated strategy focuses on the delivery of business benefit solutions. With extensive experience, best of breed technology, coupled with the best methodologies and principles, we deliver the value business expects. We reduce risks, costs and plug critical gaps for our clients by providing these services:
- Consultancy and advisory services
- Implementation and execution
- Support services
- Data Management Solutions