In a world governed by mobile internet and characterized by an increasing number of active customers on the way, companies have to face the difficulty of implementing an adequate strategy for proper master data management. The drastic increase in active mobile connection of both companies and customers leads to rapid master data growth and therefore points out the necessity of implementing a management strategy. The construction of a master data management strategy implies the interaction of different tools and methodologies. Starting with an overview of existing literature and limiting itself within the given scope, the present review then handles the interaction proper. This constitutes the essential component of this work.
Table of Contents
1. Introduction
1.1 Problem statement
1.2 Research question
1.3 Objective
1.4 Structure of the paper
2. Fundamentals and Basic terms
2.1 Master data
2.2 master data management
2.3 master data management strategy
3. Methodology for the literature work
3.1 Methodology
3.2 Keywords ans search queries
3.3 Search filter
3.4 Literature sources
4. Result of the Work
4.1 Construction of master data management strategy: methodologies and tools
4.1.1 Methodologies
4.1.2 Evaluation of reasearch findings: methodologies
4.1.3 Tools
4.1.4 Ecaluation of research findings: tools
5. Discussion and conclusion
5.1 Discussion
5.2 Conclusion
Research Objectives and Focus Areas
The primary objective of this seminar thesis is to identify and describe available methodologies and tools that facilitate the construction of an efficient, time-saving, and cost-effective master data management strategy to help organizations increase their productivity in an environment characterized by rapid data growth.
- Definition of core concepts related to master data and master data management.
- Evaluation of different methodologies for constructing a master data management strategy.
- Identification of suitable tools to support the implementation of management strategies.
- Analysis of existing literature to derive best practices and strategic frameworks.
Excerpt from the Book
4.1.1 Methodologies
A master data management strategy is aimed at elaborating a template defining a set of guidelines to be used during the implementation of a MDM system. This enables the detection of possible problems and insufficiency at early stages. The direct effect is a trouble-free implementation as long as the proposed strategy meets the necessary requirements. The master data manager should be able to identify and understand the risks that arise with strategy and also take counter measures to avoid them. To achieve that goal, it is meaningful to follow up every step involved in the strategy construction and consider the implications of each single step.
A clear strategy has a positive impact on the maturity level of master data management. This means, the MDM strategy defines the objectives and values of master data management. The strategy includes the “development of a vision, defining the MDM strategy, deriving an implementation plan, and setting the communication and change strategy”. A MDM Strategy needs to be implemented to individual situations depending on the maturity level of the considered company. The following figure illustrates the relevant steps to be considered during the implementetion of a MDM strategy according to Baumeier and Packowski.
Summary of Chapters
1. Introduction: Presents the problem statement regarding master data growth, the central research question, objectives, and the overall structure of the paper.
2. Fundamentals and Basic terms: Defines core concepts including master data, master data management, and the specific requirements of a master data management strategy.
3. Methodology for the literature work: Describes the systematic approach used for the literature review, including search queries, filters, and source selection.
4. Result of the Work: Provides an in-depth analysis of methodologies and business strategy tools identified in the literature for building master data management strategies.
5. Discussion and conclusion: Synthesizes the findings, discusses the limitations of the current literature regarding MDM-specific tools, and concludes on the necessity of adapting business strategy tools.
Keywords
master data management, MDM, master data management strategy, master data management solution, Stammdatenpflege, business strategy, methodology, literature review, data growth, corporate strategy, Balanced Scorecard, strategy map, data integration, MDM architecture, business engineering
Frequently Asked Questions
What is the core focus of this research paper?
The paper primarily focuses on identifying methodologies and tools that assist organizations in constructing a sustainable master data management strategy to handle exponential data growth.
What are the central themes discussed in the thesis?
The central themes include the definition of master data, the necessity of management strategies, the role of organizational design, and the adaptation of business strategy tools for master data management.
What is the main research question of the work?
The main research question is: Which methodologies and tools are available to construct a master data management strategy?
Which scientific methodology was applied?
The research follows a structured literature review approach based on the process models of Fettke as well as Webster & Watson.
What topics are covered in the main section of the paper?
The main section covers the definition of MDM concepts, a detailed look at various strategy construction methodologies (such as those by Collaborative and Viswanathan), and an evaluation of business strategy tools like the Balanced Scorecard and strategy maps.
Which keywords best characterize this work?
The most important keywords include Master Data Management (MDM), MDM strategy, data management solution, and business strategy tools.
Why is a "Master Data Management Strategy" considered a challenge today?
According to the author, the challenge arises from the rapid increase in active mobile connections and corporate data growth, which makes manual or unorganized data management increasingly inefficient.
Are there standard tools specifically for MDM?
The research concludes that there are few dedicated tools specifically for building an MDM strategy, leading to the recommendation of utilizing general business strategy tools such as the Balanced Scorecard.
What role does the "blueprint" play in MDM?
A blueprint is essential for planning and managing business initiatives, offering a clear model for tasks, stages, and activities during the implementation of a master data management approach.
- Arbeit zitieren
- Florette Chamga (Autor:in), 2016, Construction of a master data management strategy. Methodologies and tools, München, GRIN Verlag, https://www.grin.com/document/343195
