In a recent post here at the INN site, Ben Moreland talked about how insurance companies have been inundated with data from all directions, and that efforts at master data management (MDM) have fallen flat: “They spent tens of millions of dollars to try and get the uber insurance data model correct, and consolidated (and of course cleansed and migrated to a data warehouse) before they could produce any meaningful reports that provided business insight. Basically, they were trying to 'boil the ocean,' and many programs failed under their own weight.”
Indeed, MDM is not something that can be entered into lightly, since it involves identifying and marshaling people and resources from across the enterprise. That's why a well-governed approach is essential.
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