Is the pitch of the information correct?
Data management can resemble the wild west without proper models and processes. Data may contain gaps, errors, and redundancies if data quality management is not systematically integrated into the organization’s practices. The better and higher quality a company’s data is, the more accurate answers and processes can be achieved through artificial intelligence in the future. Crucially, data management is not solely the responsibility of the IT department but is a concern for the entire organization. Management support, clear operating procedures, and staff training are key factors for successful data management. Classifying, protecting, and managing information are ongoing processes with data ownership at their core. Each piece of data, especially master data, should have a designated owner responsible for all related aspects.
Is it clear to your company’s employees who manages data in different systems and what changes each is authorized or obligated to make? In everyday situations, it may be unclear who is responsible for the data and whom to contact. Ideally, this information is managed by authorized individuals who maintain data according to a defined data model and agreed-upon processes. Many organizations establish Master Data Management (MDM) teams responsible for master data ownership. These teams not only ensure clear processes for managing master data but also oversee the maintenance and improvement of data quality. They also ensure that data updates and entries into the system are done correctly. Members of the MDM team act as advocates within various departments of the organization and help resolve any conflicts in data management.
The owner of master data as the soloist of information management
When we consider the question of master data ownership, we’re referring to the individual or organization responsible for the collection, maintenance, as well as the security and compliance requirements of the data. The master data owner acts as a custodian of information, ensuring that all necessary data is organized and ready for use. They play a key role in data management, ensuring that master data functions and flows seamlessly, providing a stable foundation for the company’s success. In this role, they not only ensure that the information is accurate and reliable but also promote efficient data utilization within the organization.
The responsibility for data accuracy and updating may be divided among various departments within the organization; for example, sales and customer service teams may be responsible for the accuracy and timeliness of customer data. Balanced responsibility sharing ensures that every part of the organization actively participates in master data management and that all information remains of high quality. Unified management of master data requires close collaboration and strong communication between different departments. Only in this way can an organization ensure that the data symphony plays harmoniously and that each note seamlessly fits together to ensure business continuity.
Who leads your data orchestra?
Who in your organization is the conductor leading the data orchestra? Are all the instruments playing in harmony, or are there discordant notes affecting the flow of information? Is data management music to your ears in your organization? The successful operation of your organization relies on strong data ownership and efficient management. The conductor plays a key role in ensuring that all systems are tuned correctly and that information flows smoothly throughout your organization. Just like in a well-led orchestra, clear ownership and understanding of data ensure that everything operates harmoniously and seamlessly.
Leading master data requires special vision and a strategic approach. Without proper data management and related processes, a lack of ownership can arise within the organization, exposing it to poor data quality and associated risks. The organization’s leadership must act as the top architect of the company, understanding the overall architecture and especially the role of the company’s most important intangible asset, which is data. The company should establish a strong data strategy that supports its business strategy. It is also the responsibility of the leadership to ensure seamless integration of data and processes.
Outsourced master data management: assistance and expertise as needed
Sometimes an organization’s own resources may not be sufficient, or there may be a lack of expertise, leading to the need for external assistance in master data management. Especially in large system projects, such as ERP system transitions, there is often a need to carefully examine the data in the company’s systems and strive to standardize it into the new system. The goal is to ensure that the data is available to everyone in a usable format.
Additional resources may be essential for such data cleansing projects. It’s important to establish rules for data standardization and maintenance before starting the actual data cleansing work. This ensures that the process is efficient and the results are of high quality. At Lanttu, we offer outsourced data management services to help organizations focus on their core business and ensure that all available data is consistent and up-to-date. Outsourced master data management provides assistance and expertise, helping the organization make the most of its data and ensuring that data transfers occur smoothly and in a controlled manner.
Conclusion
Ownership, responsibilities, and leadership of master data form the data symphony of an organization. The internal conductor guides the data orchestra towards harmonious collaboration. Serving as the soloist of information management, the master data owner ensures data accuracy and efficient use. Clear ownership and understanding ensure that data management creates a harmonious pitch within the organization, enhancing decision-making and business efficiency. Data ownership and management are not merely technological activities but strategic decisions and broad organizational commitments. Collaboration and communication play a key role in this equation, ensuring data integrity and benefiting the organization as a whole.
Our latest articles:
- Master data management system with Power Platform – where to start? (1/2)
- Cleaning up messy data
- Data management harmony: Who leads the data orchestra in your organization?
- Low-code solutions – what can be achieved with them and where do they fit?
- Efficiency and competitive advantage in retail with supplier and product information management