Master of Science in Computer Science
Department of Computer Science
Faculty / School
Faculty of Computer Sciences (FCS)
Date of Submission
Shams Naveed Zia, Visiting Faculty, Department of Computer Science
MSCS Survey Report
This survey report aims to provide a data definition of one master data for cross application consistency. The concepts related to Master data management in broader spectrum has been discussed. The current challenges companies are facing while implementing the MDM solutions are outlined. We have taken a case study to highlight why Master Data Management is imperative for the enterprises in optimizing their business Also we have identified some of the long term benefits for the enterprises on implementing MDM. We take a close look at the importance, challenges, and business value of excellence in master data maintenance. It explores the causes of problems and presents a solution for simplified and improved automated master data maintenance. The example of a manufacturing company illustrates the roadmap to sustainable value through simplified master data maintenance: It shows how both transparency and efficiency can be ensured through objective assessments, clear responsibilities, and traceable ownership of data fields and profiles. In today’s business world, data is a valuable corporate asset which, when managed properly, can support a company’s ability to achieve strategic goals and financial results. A recent Hackett Group study revealed that over 70% of companies are planning on implementing a Business Intelligence or analytics application. In addition, these same companies are planning to establish data stewardship rules, standardize master data, and cleanse existing data, all components of a Master Data Management (MDM) strategy. Executives can improve their ability to quickly access accurate data by adopting MDM best practices. MDM typically involves a series of consistent processes and policies with proper governance and oversight. Master Data Management is focused around several key and actionable business segments including, but not limited to, the material, customer, supplier, and employee master. Strong Master Data Management governance can drive greater consistency and accuracy of data, which can be an asset in driving world class operations, providing the ability to use data as a competitive advantage, and reducing unnecessary waste. In contrast, without proper governance, there is limited accountability and ownership of data, which creates compliance risk as well higher expenses and lost revenue.
Siddiqui, M. F. (2016). Master data management: literature review (Unpublished MSCS survey report). Institute of Business Administration, Pakistan. Retrieved from https://ir.iba.edu.pk/survey-reports-mscs/119
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