Master Data Management and Data Governance
Improve Data Quality, Manage Risk, Maintain Compliance
Any successful MDM initiative requires best practice data governance. Successful enterprises understand that distilling data into sound business intelligence requires an internal watchdog to ensure information that is received, distributed, marketed, and acted upon is uniform and accurate. For FTI’s clients, data governance is the most critical component of improving data quality, managing risk, measuring accurately, and often maintaining compliance with government regulations.
Since data governance stresses both the quality and control aspect to the management and usage of data, FTI’s work to improve our clients’ data governance standards involves a top-down evaluation of data processes, measuring their data’s accuracy, accessibility, consistency, and completeness. Datasets often include the customer master, product master, sales force alignments, “type” management, and various business hierarchies.
In collaboration with client teams that typically include executive leaders, department heads and IT stakeholders to act in the roles of data owners and data stewards, FTI determines a strategy to improve how our client partners manage and control their information. A plan to address issues in data quality may include, for example, consolidating incompatible databases, restructuring business procedures after mergers, sharing critical information between