Master Data Management
Gain unprecedented insights into your business operations
We focus on aligning Master Data Management (MDM) solutions with your business goals and vision. We understand that a single version of the truth for key data domains is critical to drive business growth, but how to accomplish that can vary.
Our teams will work with you to implement a solution that meets your organization's unique environment, while leveraging both general data and industry standards to allow for an agile implementation of MDM. Through this approach, we are able to prove out the program on a domain by domain basis. This ultimately will provide a quicker time to implementation on the domains within the business that are most prioritized for centralization and further control.
Align MDM solutions with your business goals and vision
Create a trusted view of business-critical data
Data Domains and Elements
Understanding data domains and data elements is key to assigning accountability and responsibility across your organization. Our approach takes into consideration business models and current systems architectures such as business applications, integrations, and industry trends.
Take control of your information. Standardize data to ensure quality and consistency across your organization. Data standardization and quality checks are required to get the most value out of MDM. Data quality early in the lifecycle is a key part of data operations.
Business Rule Definition
A single source of truth that can be modified only under trusted circumstances is at the center of a successful MDM program. We work with you to define business rules that enable correlating key data domains from internal and external sources into a single “Golden Record” enabling trust and accuracy in the data.
Domain Hierarchy Alignment
Critical business questions can’t be answered without understanding the relationships between the key business domains. Our experience in multi-domain MDM enables these relationships, helping you answer critical business questions and establish hierarchical relations between key domains.
Change Management and Adoption
Implementing a change management strategy is an essential element in executing your MDM program. Our team can establish an effective roadmap and plans for training, communicating, and implementing business process change that will lead to successfully adopting an MDM platform.
MDM Target Operating Model
There is not a one-size-fits-all operating model. We partner to understand your unique requirements and then map the most appropriate model to best align with your business goals. Whether working in a Centralized, Decentralized or Federated Model, we have the experience to transform your program.
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2022 AND 2031 EXECUTIVE PERSPECTIVES ON TOP RISKS
A large reinsurance company was struggling because it did not have the detailed information required to measure performance. Data was only available at aggregated levels to provide financial results, but not at the more detailed level needed to shed light on the portions of the business driving the bottom line. Additionally, the organization’s parent firm was requesting information on specific lines of business that could not be produced without a great deal of manual effort and research. The company was spending more time creating financial statements than analyzing them.
We helped the client in the following ways:
- Determined the key information required to better measure results
- Analysed the data available within the organization and identified gaps
- Designed business processes and implemented technology required to gather detailed data needed by the business
- Implemented reporting that enabled the business to use the more detailed information for driving process improvements and results
A multi-brand global footwear company with wholesale, retail, and online operations was experiencing increased margin pressures and flat annual growth.
One area of concern was their overall understanding of consumer behavior, the effectiveness of their customer outreach, and the identification of highly profitable and potential highly profitable consumers.
With Protiviti’s guidance, the client consolidated all this information into one high-speed memory database. The process required several common solution elements to achieve this result:
- Aligning Master Data between systems
- Alignment between Business and IT on common metrics and their calculations
- Scheduled movement of data from seven separate systems, enabling daily insight
- Optimizing system for sub-second response time and iterative exploration of data and scenarios
This banking client was working on a strategic effort to streamline regulatory and risk reporting that would enable greater efficiency in compliance with CCAR, Call Reporting, and other requirements. The client had an existing number of data warehouses in their environment, but wanted to get to a “Golden Source” for future state reporting, as well as reduce operational costs.
The approach included:
- Provided resources to help facilitate information/requirements gathering to better understand both existing reporting repositories as well as requirements for future state reporting
- Assisted in overall design conversations geared towards understanding the future direction of the program
- Facilitated QA/Testing on the overall solution to ensure it met business requirements and needs
- Collaborated with data stewards on data requirements and definitions of key data elements (KDE)