Master Data supports many key business functions and business processes, including finance, manufacturing, product discovery and delivery, … A big part of the data governance vision of this organization is to have no process interruptions due to bad master data. By communicating this, the value of data governance became very tangible for the business. It enabled them to think about their current process (or lack of processes) in a structured way.
Financial consolidation for example was becoming harder because new entries in the chart of accounts could be created without the proper controls. The financial data specialists and other data governance stakeholders sat down and decided on the rules that should apply when creating a new Master Data entry.
To support these processes, an Information Model was set-up using Collibra’s Business Semantics Glossary. The Master Data Information Model encompasses ownership, responsibilities, governance processes and documentation around key attributes and their relation to entities, business processes, KPIs and systems.