MDM, Assets, Locations, and the TARDIS

Henrik Liliendahl Sørensen, as usual, is facilitating excellent discussion around master data management (MDM) concepts via his blog.  Two of his recent posts, Multi-Entity MDM vs. Multi-Domain MDM and The Real Estate Domain, have both received great commentary.  So, in case you missed them, be sure to read those posts, and join in their comment discussions/debates.

A few of the concepts discussed and debated reminded me of the OCDQ Radio episode Demystifying Master Data Management, during which guest John Owens explained the three types of data (Transaction, Domain, Master), the four master data entities (Party, Product, Location, Asset), as well as, and perhaps the most important concept of all, the Party-Role Relationship, which is where we find many of the terms commonly used to describe the Party master data entity (e.g., Customer, Supplier, Employee).

Henrik’s second post touched on Location and Asset, which come up far less often in MDM discussions than Party and Product do, and arguably with understandably good reason.  This reminded me of the science fiction metaphor I used during my podcast with John, a metaphor I made in an attempt to help explain the difference and relationship between an Asset and a Location.

Location is often over-identified with postal address, which is actually just one means of referring to a location.  A location can also be referred to by its geographic coordinates, either absolute (e.g., latitude and longitude) or relative (e.g., 7 miles northeast of the intersection of Route 66 and Route 54).

Asset refers to a resource owned or controlled by an enterprise and capable of producing business value.  Assets are often over-identified with their location, especially real estate assets such as a manufacturing plant or an office building, since they are essentially immovable assets always at a particular location.

However, many assets are movable, such as the equipment used to manufacture products, or the technology used to support employee activities.  These assets are not always at a particular location (e.g., laptops and smartphones used by employees) and can also be dependent on other, non-co-located, sub-assets (e.g., replacement parts needed to repair broken equipment).

In Doctor Who, a brilliant British science fiction television program celebrating its 50th anniversary this year, the TARDIS, which stands for Time and Relative Dimension in Space, is the time machine and spaceship the Doctor and his companions travel in.

The TARDIS is arguably the Doctor’s most important asset, but its location changes frequently, both during and across episodes.

So, in MDM, we could say that Location is a time and relative dimension in space where we would currently find an Asset.

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Demystifying Master Data Management

OCDQ Radio is a vendor-neutral podcast about data quality and its related disciplines, produced and hosted by Jim Harris.

During this episode, special guest John Owens and I attempt to demystify master data management (MDM) by explaining the three types of data (Transaction, Domain, Master) and the four master data entities (Party, Product, Location, Asset), as well as, and perhaps the most important concept of all, the Party-Role Relationship, which is where we find many of the terms commonly used to describe the Party master data entity (e.g., Customer, Supplier, Employee).

John Owens is a thought leader, consultant, mentor, and writer in the worlds of business and data modelling, data quality, and master data management (MDM).  He has built an international reputation as a highly innovative specialist in these areas and has worked in and led multi-million dollar projects in a wide range of industries around the world.

John Owens has a gift for identifying the underlying simplicity in any enterprise, even when shrouded in complexity, and bringing it to the surface.  He is the creator of the Integrated Modelling Method (IMM), which is used by business and data analysts around the world.  Later this year, John Owens will be formally launching the IMM Academy, which will provide high quality resources, training, and mentoring for business and data analysts at all levels.

You can also follow John Owens on Twitter and connect with John Owens on Linkedin.  And if you’re looking for a MDM course, consider the online course from John Owens, which you can find by clicking on this link: MDM Online Course (Affiliate Link)

Popular OCDQ Radio Episodes

Clicking on the link will take you to the episode’s blog post:

• Demystifying Data Science — Guest Melinda Thielbar, a Ph.D. Statistician, discusses what a data scientist does and provides a straightforward explanation of key concepts such as signal-to-noise ratio, uncertainty, and correlation.

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• Gaining a Competitive Advantage with Data — Guest William McKnight discusses some of the practical, hands-on guidance provided by his book Information Management: Strategies for Gaining a Competitive Advantage with Data.

• Doing Data Governance — Guest John Ladley discusses his book How to Design, Deploy and Sustain Data Governance and how to understand the difference and relationship between data governance and enterprise information management.

• Measuring Data Quality for Ongoing Improvement — Guest Laura Sebastian-Coleman discusses bringing together a better understanding of what is represented in data with the expectations for use in order to improve the overall quality of data.

• The Blue Box of Information Quality — Guest Daragh O Brien on why Information Quality is bigger on the inside, using stories as an analytical tool and change management technique, and why we must never forget that “people are cool.”

• Data Governance Star Wars — Special Guests Rob Karel and Gwen Thomas joined this extended, and Star Wars themed, discussion about how to balance bureaucracy and business agility during the execution of data governance programs.

• Good-Enough Data for Fast-Enough Decisions — Guest Julie Hunt discusses Data Quality and Business Intelligence, including the speed versus quality debate of near-real-time decision making, and the future of predictive analytics.

• The Johari Window of Data Quality — Guest Martin Doyle discusses helping people better understand their data and assess its business impacts, not just the negative impacts of bad data quality, but also the positive impacts of good data quality.

• The Art of Data Matching — Guest Henrik Liliendahl Sørensen discusses data matching concepts and practices, including different match techniques, candidate selection, presentation of match results, and business applications of data matching.

• Studying Data Quality — Guest Gordon Hamilton discusses the key concepts from recommended data quality books, including those which he has implemented in his career as a data quality practitioner.