We all know that data is integral to business, but often the focus lies squarely on analytics and decision-making capabilities, when data is also critical to operations.Any investment into a solution to improve operational efficiency or solve operational challenges will be wasted if the underlying data does not support it. In fact, any time there is a change to systems or processes, a lack of understanding of data can get in the way of achieving business goals and leveraging value.
Master data management projects, if implemented effectively, should deliver intrinsic value that is sustainable, long term and repeatable, which in turn supports value realisation in other areas of business.Often, master data projects are seen as this behemoth project that will take up to a year to make any difference to business.
The goal of any data management initiative should be to take what is learned, make it repeatable and roll it out to the wider organisation so that, at an enterprise level, we develop a consistent way of working that delivers value. We need to understand both the strategic and enterprise applications of data and how we can leverage it to make business better.One thing we need to remember is that South African data is not the same as data from the US or Europe.