External Events, MDM and Data Stewardship

Exploiting external data is an essential part of party master data management as told in the post Third-Party Data and MDM.

TimingExternal data supports data quality improvement and prevention of party master data by:

  • Ensuring accuracy of party master data entities best at point of entry but sometimes also by later data enrichment
  • Exploring relationships between master data entities and thereby enhance the completeness of party master data
  • Keeping up the timeliness of party master data by absorbing external events in master data repositories

External events around party master data are:

Updating with some of these events may be done automatically and some events requires manual intervention.

Right now I’m working with data stewardship functionality in the instant Data Quality MDM Edition where the relocation event, the deceased event and other important events in party master data life-cycle management is supported as part of a MDM service.

Bookmark and Share

2 thoughts on “External Events, MDM and Data Stewardship

  1. John Owens 3rd April 2014 / 23:32

    Hi Henrik

    I totally agree that each of these events needs to be effectively managed, especially in utility companies.

    However, they need to be fully and effectively managed as part of the everyday operations of the enterprise. Someone in the the enterprise ought be tasked with carrying out a particular Business Function or Process, which when done properly, will result in this data always being correct.

    The ‘Data Steward’ approach is only required when enterprises are not properly executing their core Business Functions and lumber some poor sap with the thankless task picking up the pieces.

    Truth is, if an enterprise has data stewards, then it does not have preventative Data Quality.

    Kind regards
    John

  2. Henrik Liliendahl Sørensen 5th April 2014 / 07:01

    John, the thesis about smooth running business functions don’t need data stewards is interesting. However I like to think this about The Future of Data Stewardship.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s