How to Build a Business Case for Master Data Management (MDM)
Poor data management brings hidden costs—revenue losses, compliance risks, operational inefficiencies, and missed growth opportunities that can erode a company’s competitive edge. Inconsistent or duplicate data creates bottlenecks, reducing productivity and limiting a company’s ability to make sound decisions based on accurate insights. Master Data Management (MDM) addresses these challenges by ensuring that critical data is unified, accurate, and accessible. However, despite its benefits, MDM initiatives often require significant investment in terms of time, budget, and resources, making it essential to secure executive buy-in. The Purpose of a Business Case A business case acts as a bridge between technical teams and decision-makers, explaining the need for MDM in terms of financial, strategic, and operational benefits. It must outline: Current challenges and pain points associated with poor data management. Solutions and benefits of implementing MDM. Costs, risks, and timelines of ...