Building The Business Case For Master Data Management

Most information and knowledge management (I&KM) professionals today understand the value that a master data management (MDM) strategy could bring to their organizations. But many often fail to secure the necessary prioritization, resources, and funding to get started. Building a business case for MDM is often more challenging than other technology initiatives, such as enterprise resource planning (ERP) implementations or business intelligence consolidation initiatives, which often provide transparent efficiencies and cost savings. MDM, by definition, supports other technology and business process investments and does not in and of itself return business value. When building a business case for MDM, I&KM pros should paint the relationship between the proposed MDM solution and how it supports strategic business objectives related to increasing revenue, reducing costs, and mitigating risk.