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Master Data Management

Master Data, simply put, are those “things” we care about. They include a subset of what is entered in to our transaction systems, measured and reported on in our reporting systems, and analyzed in our analytical systems. In a hospital these could include such items as patient name, social security number, date of birth, medications, and a volume of medical history. This data can be collected and stored in many systems and many locations across the organization.

By uniquely identifying each instance of a business element (customer, product, account, etc) and representing these instances using a standardized data model we create a single source of truth around which the entire enterprise can be synchronized. This centralized data hub updates automatically to ensure consistent, timely and trusted figures which are not distorted based on their original source.

Traditionally data architectures are based on the needs of specific applications designed to support defined functional areas of large organizations with definitions, dictionaries, structures and more. This results in multiple, unconnected, often disparate sets of data scattered across an organization which are often intended to represent the same business concepts.

To better leverage this critical data it needs to be integrated, business concepts need to be clearly defined, and a way to represent those concepts within the company’s data store must be established. Master Data Management (MDM) offers a solution for integrating, managing and sharing information using methods and techniques to enable teams to collaborate and synchronize their data.

Master data management is a program composed of the business applications, methods and tools that implement the policies, procedures and infrastructure to support the capture, integration and subsequent shared use of accurate, timely, consistent and complete master data. Among other things, an MDM program is intended to:

  • Assess the use of core information objects, data value domains and business rules in the range of applications across the enterprise.
  • Identify core information objects relevant to business success used in different application data sets that would benefit from centralization.
  • Instantiate a standardized model to manage those key information objects in a shared repository.
  • Manage collected and discovered metadata as an accessible, browsable resource and use it to facilitate consolidation.
  • Collect and harmonize unique instances to populate the shared repository.
  • Integrate the harmonized view of data object instances with existing and newly developed business applications via a service-oriented approach.
  • Institute the proper data governance policies and procedures at the corporate or organizational level to ensure the continuous maintenance of the master data repository.
 
 
 
 
 

Contact Us

E-mail: cci.info@lighthousecs.com

USA
Phone: (401) 727-2400
Fax: (401) 727-4998

Canada
Phone: (905) 532-0440
Fax: (905) 532-0683