Friday, May 30, 2008

10 Mistakes to Avoid When Writing an RFP for Master Data Management

There's a right way (taking care of all departmental data needs) and a wrong way (ignoring data governance) to write an MDM RFP. MDM vendor Siperian has identified 10 common mistakes that CIOs make and advises how to avoid them.

You know you need to figure out a better way to manage your company's massive amount of critical "master" data. Don't worry—you're not alone. In a 2007 Accenture survey of 162 global CIOs, 75 percent said they want to develop an overall information management strategy in the next three years. Doing so would "reinforce[e] the need to fully manage their organizations' data and leverage that data for strategic advantage," said the report.

To succeed, you need a master data management (MDM) strategy that spells out how you're actually going to pull this off. It must address how you're going to get organizationwide buy-in, what the end state of your systems and data management practices will look like, and the technologies you'll use. Selecting an MDM vendor is a critical initial step for your software development team.

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