In the information age, virtually all businesses that operate on the web are data driven to some degree. As a result, any individual, team, or organization that chooses to operate in the software development sphere must also face the challenge of data management. Beyond the scope of maintaining accurate stores to support operations, there’s always the underlying hint of liability that comes with sensitive information, and the invariable decline in accuracy that comes with time.
Understanding this, software developers have developed specializations and practices to keep the challenge in front. One such measure is Master Data Management, or MDM, which has evolved over time to meet the growing need for effective data governance. In this article, we’ll discuss how the role of MDM has become vital to software development from a data governance perspective, and ways you can make sure your development plans are covered in that regard.
What is Data Governance?
Data Governance is a term that refers to the principles, protocols, and rules which organizations empoy to govern the flow of data. The term ‘organization’ used here can apply to systems of any size, including those related to international data laws. International or global data governance is often referred to as ‘macro-level’ governance, reflecting its ‘big picture’ view of countries dealing with the Internet’s disregard for borders.
Conversely, we will focus on the ‘micro-level’ data governance policies, which pertain to actual companies. Companies are also subject to the international data governance laws, which should be the first thumbtack for any in-house disciplines. The ‘flow’ of data within business infers the checks and balances which ensure availability and accuracy of data during production or providing services.
What is Master Data Management (MDM)?
Master Data Management, or MDM, reflects a company’s approach to their main data source, which connects all parts of production and/or service provision. MDM is a set of disciplines that enforce the accuracy and availability of the data companies rely on to operate, which is often referred to as the company’s ‘golden record’.
Data that exists outside the golden record might include top secret prototypes and experimental applications that forego the scrutiny of management. MDM is focused on items that move, specifically in and out of the company’s main source. A standard firewall can rebuke packets that don’t meet certain criteria, while an MDM will repair it in real-time, inform the user about why, and push it through.
This enforcement of integrity also applies to the company’s abstract record of the data, and the specific domains to which each record belongs. It offers a multi-tiered approach with its own data governance capabilities, while still maintaining the safety of a centralized system that oversees retrieval of records. This is called ‘reference data management’, and it’s essentially a record of records focused on centralizing the system’s many branches into a single ‘Source of Truth’.
How MDM Affects Data Governance
Based on its position, it’s easy to categorize master data management as a turnstyle that interrupts passing data, but it’s more like an operations manager at a very large hotel. As businesses grow and become more complex, it’s natural for the company’s golden record to degrade. The margin for error depends on the industry, but there’s no scenario where data degradation won’t become a problem eventually.
Real-time synchronization–a key aspect of MDM–helps companies maintain consistent availability of data. Oversight of transactions speeds up processes that would otherwise rely on individual protocols, and these incremental bonuses can increase the overall efficiency of the entire system. It also ensures that all the various moving parts of a business are operating off the same up-to-date source of truth.
Maintaining accuracy and availability are the two most important aspects of data governance, so MDM essentially becomes a non-decision after a company reaches a certain size. Forms pass with empty boxes, packets drop bits of information, and human interaction increases the chances for inconsistencies throughout. Adding a specific discipline to the pipeline is a straightforward means of addressing these challenges.
More MDM and Agile Development
The inherent flexibility requirements of agile development make it a particularly useful tool for developers who employ agile development methodologies. Aspects of version control, real-time publishing of updates to a working solution, and examination of submissions make it much easier to see the finished product taking shape. Domain separation and scrutiny increases the effectiveness of simultaneous projects, or even simultaneous aspects of the same project contributing to a whole.
For a more in-depth look at the best software development companies in modern times from our perspective, consider reading our article ‘Top 15 Agile Development Software Companies in 2023’. These can give you ideas about how to approach your own data governance, or even open avenues for partnership in developing MDM tools.
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ABOUT THE AUTHOR
Ivana Zec, works at Global Software Companies
Ivana Zec works at Global Software Companies, a US-based platform designed to link businesses and software development companies that provide outsourcing and staff augmentation services. Our mission is to help you find the best offshore or nearshore company that you can partner with for any project while helping global developers get the recognition they deserve.