Brainstorming on master data management concepts

[Former Member]

HI MDM expters and learners(Me.....)

In this thread, I'd like to collect your thoughts, feedback, and wishes regarding master data management today ( 2008-08-20) and in the future. Please communicate your feedback on MDM and ideas on MDM concepts regardless of whether you think in processes, focus on specific object hubs, or prioritize concrete features and functions.

Thanks

Sushma

[Former Member · Accepted solution]

Hi Sushma,

In this thread, I'd like to collect your thoughts, feedback, and wishes regarding master data management today ( 2008-08-20) and in the future. Please communicate your feedback on MDM and ideas on MDM concepts regardless of whether you think in processes, focus on specific object hubs, or prioritize concrete features and functions.

MDM stands for Master Data Management. Today MDM has become a hot cake in the market as companies and organization have realized the importance of having clean and complete Master Data. Hence, MDM is picking up the market.

Also as the companies wish to move toward ESOA, MDM will be an important part of it. As a product MDM has stabilized a lot and now covers almost all features required to clean and centrally store the single version of Truth of Master Data.

However, SAP is coming out with its most stabilized version of MDM - MDM 7.1, which will have enhanced features and will have answers to most of the remaining problems.

You can go through the link below to know about the latest version going to be released:

This is what SAP has to say about it:

MDM 7.1 release -

https://www.sdn.sap.com/irj/sdn/go/portal/prtroot/docs/library/uuid/d0d0b0e7-f144-2b10-17a2-982103c9...

This first part of the series provides you with a complete overview of new and enhanced features that are planned to come with SAP NetWeaver MDM Release 7.1 (release to customer for Ramp-up Q4/2008)

and also gives you a general outlook of the strategy and direction of SAP NetWeaver MDM.

Also to know more about MDM,

Kindly go through the links below:

How is career in MDM:

https://www.sdn.sap.com/irj/sdn/wiki?path=/display/profile/new%2bto%2bmdm%2b~%2bhow%2bis%2bcareer%2b...

How to learn MDM

https://www.sdn.sap.com/irj/sdn/wiki?path=/display/profile/new%2bto%2bmdm%2b~%2bhow%2bto%2blearn%2bs...

https://websmp102.sap-ag.de/installmdm - Installation & Implementation Documentation Center ( MDM )

/thread/683426 [original link is broken]

https://www.sdn.sap.com/irj/sdn/go/portal/prtroot/docs/library/uuid/b09b548d-7316-2a10-1fbb-894c838d...

MDM has basically 4 components:

Console, Import Manager, Data Manager, Syndicator

You can get the basics of MDM and also detailed info on the 4 components in the link given below:

MDM refrence guides:

http://help.sap.com/saphelp_mdm550/helpdata/en/43/D7AED5058201B4E10000000A11466F/frameset.htm

Hope it provides you the information you are looking for.

Thanks and Regards

Nitin jain

Edited by: Nitin Jain on Aug 20, 2008 12:27 PM

[Former Member]

Hi,

In computing, master data management (MDM) comprises a set of processes and tools which consistently define and manage the non-transactional data entities of an organization (also called reference data). MDM has the objective of providing processes for collecting, aggregating, matching, consolidating, quality-assuring, persisting and distributing such data throughout an organization in such a way as to ensure consistency and control in the ongoing maintenance and application use of this information.

The term recalls the concept of a master file from an earlier computing era.

At a basic level, MDM seeks to ensure that an organization does not use multiple (potentially inconsistent) versions of the same master data in different parts of its operations, which can occur in large organizations. A common example of poor MDM is the scenario of a bank at which a customer has taken out a mortgage and the bank begins to send credit-card solicitations to that customer, ignoring the fact that the person already has a credit-card account with the bank. This happens because the customer information used by the mortgage-lending section within the bank lacks integration with the customer information used by the credit card organization of the bank. Thus the two groups remain unaware that they share a customer.

Other problems include (for example) issues with the quality of data, consistent classification and identification of data, and data-reconciliation issues.

One of the most common reasons why some large corporations experience massive issues with MDM has to do with the way in which organizations grow through mergers or acquisitions. Two organizations which merge will typically create an entity with duplicate master data (since each likely had at least one master database of its own prior to the merger). Ideally, database administrators resolve such duplication in master data as part of the merger. In practice, however, reconciling several master data systems can present difficulties because of the dependencies that existing applications have on the master databases. As a result, more often than not the two systems do not fully merge, but remain separate, with a special reconciliation process defined that ensures consistency between the data stored in the two systems. Over time, however, as further mergers and acquisitions occur, the problem multiplies, more and more master databases appear, and data-reconciliation processes become extremely complex, and consequently unmanageable and unreliable. Because of this trend, one can find organizations with 10, 15, or even as many as 100 separate, poorly-integrated master databases, which can cause serious operational problems in the areas of customer satisfaction, operational efficiency, decision-support, and regulatory compliance.

Thanks ans Regards,

Sravan Velamury

[Former Member]

HI,

• The need for MDM is realized when the master data present in multiple systems across the landscape needs to be Channelized.No matter how many systems are in place,the entire landscape should be flexible enough so that in future , retiring a system should not affect the business process.MDM serves this purpose well . The dream of ESOA cannot be fulfilled unless and until MDM is in place, MDM acts as a system of records and its the source of master data for all the bussiness application.

• The Concept of Data Governance is not new and it became realistic after the Launch of MDM.MDM ensures that the Right Data is governed by the right people and its available at the right time.This avoids heavy loss to a company in terms of Master Data Quality.

What I really like about MDM is though its so powerful its quite easy to work.

Thanks,

Felix

[Former Member]

Hi sushma,

MDM is a huge universe in itself you can have a look on peoples point of view of MDM in the below links

Hope It Helped,

Thanks & Regards

Simona Pinto