On April 21, Logic Point conducted a virtual workshop as part of the Accenture Intelligent Operations Virtual Workshop Series. We shared how a modern Master Data Platform performs with examples from two Logic Point customers. We featured David Jones from Hess speaking about his company’s business case for investing in a modern Master Data Platform and the key features he expects to benefit from.
Business Case
Here’s a short excerpt of David speaking during our Webinar about the business case at Hess.
What does a Master Data Platform look like in 2020?
A modern data platform controls and governs data quality, but adds several useful components to streamline operations for your line of business. Today, your data platform should be more than just a data governance engine. It should include
A way to capture only quality data - including excel plugins, and a forms engine. It should include templates for data capture as well as tools to that adapt to the devices that you use to capture data.
Collaboration between internal and external stakeholders. For example, your vendors should be allowed to enter good quality data.
Orchestration of Data across your enterprise systems - data is useless when it’s clean, but kept in a silo. Quality data should be orchestrated easily where ever it needs to be.
Workflows and automation - Data Quality tasks should be automated whenever possible. Workflows enable the organization to streamline approvals and corrections.
Most importantly, these features should be accessible and usable by anyone, with or without IT related technical knowledge or skillsets.
Drivers for a modern Master Data Platform
You want to reduce your Material Master count
You need to reduce reliance on PDFs and paper
You want to stop re-entering your supplier’s data
You want data quality rules written by the owner, not IT
You want quick data wins – spend on smaller projects and scale-up
Five ways your Master Data Platform can streamline your Supply Chain Operations
Make suppliers responsible for their data
Rely on Excel the right way
Forms made easy, make your life easy
Agile governance - Start small, and let your data quality rules evolve.
Data Quality Administration - empower the right people