Great article in discussing Reference Data Management or RDM and it’s relation to MDM. Also important to remember that this is an excellent starting point in organically evolving the underlying processes in support of MDM and a Data Governance organization.
In recent years reference data management (RDM) has slowly crept into the forefront of business decision-makers’ consciousnesses, making its way steadily upwards in priority within corporate goals and initiatives. Organizations are suddenly seeing the benefits of investing in RDM, attention grabbed by potential paybacks like smoother interoperability among various functions of the organization and centralized ownership and accountability in creating trustworthy data.
Before we dive into talking about approaches for implementation, I want to look at the potential significance of RDM in an enterprise. When the market is inclined towards concepts like Data Integration, MDM and Business Intelligence tend to hog the spotlight. For these particular corporate initiatives, the primary focus of data is key business information like customers, products or suppliers. It is equally important, however, to appreciate the fact that reference data plays a major role in organizing and comprehending all these key pieces of business data.
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