There is an issue I have come over and over again when creating a master data hub, making a golden copy, establishing a single version of the truth or whatever we like the name to be. The issue is about the scope of data sources.
Basically you take (practically) all the master data sources from within your organization and consolidate these data. Often you match with external sources as business directories and so. But what you often miss is the master data operated by your partners. These are partners like:
- Your suppliers of products, be that raw materials or finished products for resale
- Your sales agents and distributors
- Your service providers as direct marketing agencies and factoring partners
These partners are part of your business processes and they often create and consume master data which are only shared with you in a limited way via some form of interface.
I know that even handling master data from within most organizations is a complex issue. Integrating with external reference data doesn’t add simplicity. But without embracing the master data life at your partners, the hub isn’t complete; the copy is only made of plated gold and the single version of the truth isn’t the only truth.
My guess is that many master data programs in the future will extend to embrace internal (private) data, as well as external (public) data and bilateral data as described on the page about Data Quality 3.0.