We are constantly reminded that our AI ambitions will be “dashed on the rocks of disappointment” without quality data, well governed with clear provenance, meaning and understanding.

But the criticality of quality data is central to any process or digitization (AI enabled or not), including in our classic ERP “hub” and related “spoke” process applications.

And nowhere is it more evident than in Master Data, the glue of “end to end” processes, the oil in the machinery of digitization, the lubricant in the engine of process efficiency.

There you go. A “hat trick” of metaphors. You don’t get that very often on a Friday!

Master Data is the most critical data that describes the people, places, and things that are central to business operations. 

Whilst a small percentage by volume, Master Data has an asymmetric impact on process efficiency and effectiveness.

Master Data can be challenging due to its “cross-functional” nature which itself makes it a key building block of any “end to end” process strategy.

We often refer (sometimes more in hope than reality) to Master Data as the “single source of truth“.

The gap between necessity, aspiration and reality of Master Data remains too wide.

So it was great to see this topic discussed by Sally Fletcher of SSON, Adam Hermann of Nokia, Daniel Chapman of Warner Music Group and Kelly Hicks of Airbase. Whilst focussed on P2P and Supplier Master Data, the lessons are broadly applicable.

You can read a summary and watch a video of the discussion below, including;

• “Master Data is like having a classic car. Without maintenance, it can easily become worthless” 😉  
• The drive for master data self-service, whether it be employee, supplier or customer – through a structured process that balances the delegated “ultimate source of truth” with central oversight and control.
• The use of technology to automate some of the manual, repetitive, tedious maintenance tasks.
• The use of AI as an augmentation capability to help apply the data and support decision-making.
• The need for human oversight, validation and intervention for ultimate decision making and handling of more nuanced error conditions.

The one thing we know is that Master Data initiatives often fail to get prioritized or get traction for various reasons.

Without addressing the Master Data “elephant in the room”, all other digitization initiatives will struggle and fail to deliver their true potential.

“We choose to do these things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills . . . “ 

You can catch the summary and video discussion between Sally, Adam, Daniel and Kelly here . . . .

Thanks for reading . . .