IMM has taken Master Data Management (MDM) to a whole new level with the development of Multi-Dimensional MEM.
Multi-Dimensional MEM is a very powerful technique that enables you to identify all of your Master Entities across your entire enterprise by asking just seven questions.
Find out how to use this very powerful approach in any enterprise by attending or viewing a recording of our Multi-Dimensional MEM webinar.
The IMM Academy also offers a complete on-line course on Multi-Dimensional MEM that explains all facets of this technique from identifying the master Entities of the enterprise to implementing them in systems.
Find out more by previewing a Multi-Dimensional MEM Online Training Course Module.
Master Entity Management
The whole practice currently referred to as ‘Master Data Management’ would be better termed ‘Master Entity Management’ as it is essentially all about identifying and managing the Master Entities of the enterprise.
What’s in a name? Does it really matter what it called? Yes, it does. Names are very important. Most errors and bad practices in business and data analysis and modelling can be traced back to bad or inappropriate naming.
For, example in Master Entity Management it is the improper naming of ‘Customer’, ‘Supplier’, ‘Employee’, etc that leads to one of the greatest areas of fragmentation and duplication in MEM in nearly every enterprise around the globe.
Preview Multi-Dimensional MEM Online Training Course Module 2 to find out what the correct name of this vital Master Entity is and how to avoid mis-naming it.
MEM Seven Fatal Errors
The set of business activities referred to as Master Data Management is plagued with seven fatal errors that prevent all current efforts from achieving success, no matter how much effort or money is thrown ate them.
What are these Fatal Errors?
- Calling it MDM!
- Looking in existing data for Master Entities .
- Using misnomers like Customer, Supplier, etc for THE core Master Entity.
- The Curse of the Systems SILO
- Mistaking Unique Codes for Unique Identifiers.
- Mistaking Address for an attribute of Party
- Not using the Logical Data Model
Over the coming weeks I will address at each of these Fatal Errors in turn and, more importantly, show how to avoid them.
So, stay tuned.
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