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Tuesday, October 7, 2014

1:55 p.m. - 2:40 p.m.
Track: Master Data Management PIM & RDM View Track

EXPERTS PANEL: BEST PRACTICES IN REFERENCE DATA MANAGEMENT

Moderator: Aaron Zornes, Chief Research Officer, THE MDM INSTITUTE
Panelist: Gary Olson, Manager, Enterprise Data Governance - Business Information Services, INTERCONTINENTAL HOTEL GROUP
Panelist: Agha Saadat, Enterprise Data Architect, FANNIE MAE
Panelist: Kevin Shannon, Vice President, Data Strategy and Operations, STANDARD & POOR'S

Reference Data Management (RDM) is a relatively new offspring of MDM functionality to provide the processes and technologies for recognizing, harmonizing and sharing coded, relatively static data sets for reference by multiple constituencies (people, systems and other data). Because reference data is used to drive key business processes and application logic, errors in reference data can have a major negative and multiplicative business impact. Mismatches in reference data can have a major impact on data quality, can affect the integrity of BI reports, and is a common source of application integration failure. Home-grown RDM systems suffered for a number of reasons, and just as businesses no longer build their own custom CRM, ERP and MDM systems, so too are organizations acquiring commercial RDM solutions which can be easily tailored or configured and which have the full ongoing support of a software vendor. Moreover, RDM use cases are increasingly being approached by enterprises as entry points into the broader world of MDM. This panel will focus on the answers to such issues to help understand the relationship and dependencies between RDM and MDM by discussing:

  • Rationalizing the trade-offs between multi-domain RDM solutions and do-it-yourself RDM
  • Determining whether RDM might serve as a suitable proof-of-concept for the utility, performance and ease-of-use evaluation for a general purpose MDM solution (CDI, PIM, multi-domain)
  • Understanding the business value and evaluation criteria for standalone RDM solutions versus MDM-enabled RDM

 

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