October 7, 2009 Initiate Systems has released Initiate Master Data Service version 9.0, the latest upgrade to Initiates master data management solution.
Version 9.0 draws on the experience of Initiate customers to establish agile processes, including data governance for enterprise, government and health care organizations. With the new tool data stewards can centrally manage and classify business data issues as they relate to specific business processes.
The new release includes the ability to identify, prioritize and route problems to the appropriate executive or business analyst, helping facilitate a timely response to business issues and compliance. It also includes a new service-oriented architecture tool kit and enterprise-wide document sharing capabilities.
Part of the MDM challenge is integrating its functionality into the multitude of application systems that exist within a company, according to Evan Levy, partner and co-founder of Baseline Consulting Group.
The whole point of mastering and managing data is to simplify data sharing, since confusion only occurs when you have two or more instances of data and it doesnt match, said Levy in an Information Management blog. The challenge in making data more usable and easy to understand exists because most companies have multiple application systems each with their own copy of data (and their own version of truth). MDMs promise is to deliver a single view of subject area data.
Data governance is an essential component of MDM, according to Aaron Zornes, founder and chief research officer for the MDM Institute. Most of the marketed MDM solutions do not adequately address this formal requirement.
Each and every consuming and producing organization has a duty or role in the governance of master data. For example, once it is determined that master data is a corporate asset, that data must be protected across its lifecycle, including critical issues such as accessibility and compliance. Unfortunately, most of the marketed MDM solutions do not adequately address this formal requirement, Zornes said in a recent article.
To learn more about Information Managements Introduction to Master Data Management eLearningCurve course click here.Or, click here for MDM Fundamentals and Best Practice.
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