Within the Corporate Information Factory, what data is used to understand transactions?
In the context of the Corporate Information Factory, understanding transactions involves integrating various types of data to get a comprehensive view. Master Data (core business entities), Reference Data (standardized information), and External Data (information sourced from outside the organization) are essential for providing context and enriching transactional data.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 3: Data Architecture and Chapter 11: Reference and Master Data Management.
'Building the Data Warehouse' by W.H. Inmon, which introduces the Corporate Information Factory concept.
Managing master data elements can be performed at which of the following points?
Managing master data elements can be performed at multiple levels within an organization. This includes third-party providers such as Dun & Bradstreet (D&B) which can supply enriched and standardized master data. At the enterprise level, organizations manage master data centrally to ensure consistency and quality across all systems and processes. Within application suites such as ERP (Enterprise Resource Planning) systems, master data management ensures that data is consistent and accurate within and across different applications. Therefore, master data elements can be managed at all these points.
DAMA-DMBOK2 Guide: Chapter 10 -- Master and Reference Data Management
'The Data Warehouse Toolkit: The Definitive Guide to Dimensional Modeling' by Ralph Kimball
The following is a technique that you can find useful when implementing your Reference and Master program:
When implementing a Reference and Master Data Management (RMDM) program, it is crucial to utilize techniques that ensure consistency, accuracy, and reliability of data across various systems. Business key cross-references is one such technique. This technique involves creating a mapping between different identifiers (keys) used across systems to represent the same business entity. This mapping ensures that data can be accurately and consistently referenced, integrated, and analyzed across different systems.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 11: Reference and Master Data Management.
'Master Data Management and Data Governance' by Alex Berson and Larry Dubov, which emphasizes the importance of business key cross-referencing in MDM.
A key capability to quickly onboard new data suppliers and subscribers to a MDM solution is which of the following?
Definitions and Context:
MDM Solution: This involves tools and processes to manage master data within an organization to ensure a single source of truth.
Onboarding Data Suppliers and Subscribers: This process involves integrating new data sources (suppliers) and distributing data to various applications or users (subscribers).
A key capability for onboarding is the flexibility in data format and transfer methods because different data suppliers may use various formats and protocols.
Ensuring flexibility allows the MDM system to easily adapt to different data sources and meet the needs of diverse data consumers, thereby facilitating quick and efficient onboarding.
DAMA-DMBOK: Data Management Body of Knowledge, 2nd Edition, Chapter 11: Master and Reference Data Management.
The Open Group, 'TOGAF Series Guide: The Data Management Capability Assessment Model (DCAM)'.
Matching or candidate identification is the process called similarity analysis. One approach is called deterministic which relies on:
Deterministic matching, also known as exact matching, relies on predefined rules and algorithms to parse and standardize data, ensuring that records are compared based on exact or standardized values. This approach uses defined patterns and rules to determine whether two records represent the same entity by matching key attributes exactly. Deterministic matching is precise and unambiguous, making it a common approach for high-certainty matching tasks, although it can be less flexible than probabilistic methods that allow for variations in data.
DAMA-DMBOK2 Guide: Chapter 10 -- Master and Reference Data Management
'Entity Resolution and Information Quality' by John R. Talburt
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