Over the years, the buzzword “single version of the truth” has made its way in and out of the offices of CFOs and CEOs around the globe. While business intelligence tools have afforded companies the ability to analyze the business in more detail than ever before, the idea of being able to make decisions that will truly impact the business continues to be a challenge for many companies. What has proven even more painful for companies is figuring out how to achieve consistent definitions, business rules, and data quality. These issues have given rise to a key Business Intelligence practice area known as Master Data Management. Master Data Management is the processes and systems used to create an effective governance model to organize non-transactional (ie, “reference”) data and provide a true single version of the truth.
Key Performance Ideas delivered Financial Master Data Management for a high-technology peripherals manufacturer. The main challenge the manufacturer faced was lack of consistent business definitions in several areas including account, product and departmental data. As a result, the company lacked the ability to produce meaningful operational reports and therefore, could not make sound financial and operational planning decisions. Additionally, the lack of master data visibility and of verification processes prevented various systems to talk to one another.
“Key Performance Ideas was selected for their innate ability to solve these issues without disrupting the day-to-day business intelligence processes and infrastructure.”
The first phase of the project was the discover phase which included a deep analysis and documentation of the problem areas. Once the issues were clearly documented, Key Performance Ideas moved to the roadmap and design phase which included a detailed Master Data Management program. The Key Performance Ideas consultant leveraged his industry expertise and best practices developed over many years to develop the solution blueprint which included an implementation that enabled the Oracle Data Relationship Management product to support the Enterprise Data Warehouse, Oracle Hyperion Essbase, Oracle Hyperion Planning and Oracle Hyperion Financial Management. Once the pieces were in place, Key Performance Ideas methodically decoupled the legacy sources and then did the same for the different legacy master data management processes to make it Sarbanes-Oxley complaint. The Key Performance Ideas consultant also utilized his breadth of knowledge of Oracle ERP, Data Warehouse practices, and many development tools across multiple platforms that contributed to an integrated solution that worked seamlessly for the client. By using the Oracle Data Relationship Management (Oracle DRM) product, the consultant was able to successfully implement the product with the right skills but also with in-depth domain (functional) expertise that the client needed to complete the task at hand.
The end state solution implemented included a Data Governance process, a workflow solution, and integration that ties in with the Business Intelligence system as well as the established ERP systems. Key Performance Ideas also trained the client’s staff with established best practices to ensure they were prepared for their own future deployments. Key Performance Ideas’ methodologies provided incremental value with the solutions that were recommended and ultimately implemented. Key Performance Ideas completed the project on-time, on-budget and prepared the client for the future. By utilizing a proven methodology coupled with innovative ideas and the right industry & technical experience for the solution, Key Performance Ideas exceeded the customer’s expectations in the solution.