Explain the typical cycle showing how master data is used as described in the information below. What steps would you need to consider with regard to utilizing and employing all aspects of information technology? How can you use information systems to help make informed decisions? What steps would you take to ensure this process is completed successfully?

To achieve operational excellence, a corporation or organization must fully employ and utilize all aspects of information technology available to it. In doing so, three important steps should be carefully considered:

Access all relevant data and information. Analyze all real-time data throughout the organization. Ensure that all data and information flows to relevant users. If these three steps are taken each time the result may be a more efficient, agile, and profitable company or organization. With agility, efficiency, and profitability, the opportunities for growth and maturity will follow.

There are barriers that an organization might encounter along the way. Among these, some of the more commonly cited barriers are:

Not enough integration of systems/information to partners Lack of or inaccurate data No or not enough data visibility in the market Too many IT systems storing data and information Technologies that Support Better Decision-Making

To break down these and other barriers, corporations and organizations must employ better decision-making protocols and incorporate better database tools and systems. Systems have evolved that are based on the continually redefining requirements of IT users. Purchasers, managers, collaborators, and other communicators who daily use these applications have, in essence, been the designers of the new wave of formats available for use.

Much of the focus has been on receiving information rather than having to seek it. If systems know what you want before or simultaneous to your awareness of your need for it, productivity, efficiency, and, in turn, profitability can be greatly enhanced and improved. In short, when you receive real-time, relevant information automatically, you can make better decisions, and you can make them more quickly.

While there exist many varied paths to achieve better decision making through the use of information technologies, most organizations that do so employ all or most of the following:

Mobility. By using mobile technologies such as smart phones and tablets, companies are better prepared and better able to access data on the fly. Sociability. Just as you are able to keep in touch with friends and family through your personal social networking, so too is your business or organization able to do so via social networking devices and software. Big data analytics. Using analytics to forecast, plan, and optimize resources, scheduling, and workflow can greatly increase efficiency and productivity. Cloud. Cloud computing allows for greater access, reliability, and exporting of key information and data across multiple and remote interfaces. In order to properly utilize these technologies, corporations and organizations must receive their data and information in user-friendly formats and outputs. Systems and software that are designed and developed to deliver information and data in these formats are important to have in place. There are companies, such as SAP and Oracle, who specialize in providing this to corporations and organizations (see Figure 3.6). How helpful these systems can be depends on an organizations commitment level to using them.

Figure 3.7 SAPs Master Data Setup

Example of SAPs master data setup.

To achieve operational excellence, a corporation or organization must fully employ and utilize all aspects of information technology available to it. In doing so, three important steps should be carefully considered:

1. Access all relevant data and information.
2. Analyze all real-time data throughout the organization.
3. Ensure that all data and information flows to relevant users.

If these three steps are taken each time the result may be a more efficient, agile, and profitable company or organization. With agility, efficiency, and profitability, the opportunities for growth and maturity will follow.

There are barriers that an organization might encounter along the way. Among these, some of the more commonly cited barriers are:

• Not enough integration of systems/information to partners
• Lack of or inaccurate data
• No or not enough data visibility in the market
• Too many IT systems storing data and information

Technologies that Support Better Decision-Making

To break down these and other barriers, corporations and organizations must employ better decision-making protocols and incorporate better database tools and systems. Systems have evolved that are based on the continually redefining requirements of IT users. Purchasers, managers, collaborators, and other communicators who daily use these applications have, in essence, been the designers of the new wave of formats available for use.

Much of the focus has been on receiving information rather than having to seek it. If systems know what you want before or simultaneous to your awareness of your need for it, productivity, efficiency, and, in turn, profitability can be greatly enhanced and improved. In short, when you receive real-time, relevant information automatically, you can make better decisions, and you can make them more quickly.

While there exist many varied paths to achieve better decision making through the use of information technologies, most organizations that do so employ all or most of the following:

• Mobility. By using mobile technologies such as smart phones and tablets, companies are better prepared and better able to access data on the fly.
• Sociability. Just as you are able to keep in touch with friends and family through your personal social networking, so too is your business or organization able to do so via social networking devices and software.
• Big data analytics. Using analytics to forecast, plan, and optimize resources, scheduling, and workflow can greatly increase efficiency and productivity.
• Cloud. Cloud computing allows for greater access, reliability, and exporting of key information and data across multiple and remote interfaces.

In order to properly utilize these technologies, corporations and organizations must receive their data and information in user-friendly formats and outputs. Systems and software that are designed and developed to deliver information and data in these formats are important to have in place. There are companies, such as SAP and Oracle, who specialize in providing this to corporations and organizations (see Figure 3.6). How helpful these systems can be depends on an organizations commitment level to using them.

Figure 3.7 SAPs Master Data Setup