A taxonomy provides the framework for structuring, supporting, and deploying a Master Data Management (MDM) solution. In MDM, the taxonomy is definitional. It helps differentiate objects and describe them by what they are and by their data points.
MDM offers enterprises consistent reference data. It also helps enterprises manage the relations between data entities. Consequently, for the MDM solution to be effective, the terminologies used should be used in a standard manner and mean the same across the enterprise. This standardization can be achieved by designing and implementing a taxonomy for MDM. Nevertheless, if the taxonomy was designed incorrectly, it would result in a violation of the core principals around data governance.
Therefore, when designing a taxonomy for an MDM solution, care should be taken to make it usable across all levels of the enterprise. In addition, it should be stable and allow intentional strategic shifts in line with evolving business needs. Leverage a combination of branch/leaf and attribute(s) to map organizational restructuring, including standard classifications. Finally, the taxonomy is so designed such that it meets the needs of the organization and it is scalable to accomplish the future objectives of the MDM solution.
Brought to you by Scope e-Knowledge Center, an SPi Global Company, a trusted global partner for Digital Content Transformation Solutions, Knowledge Modeling (Taxonomies, Thesauri and Ontologies), Abstracting & Indexing (A&I), Metadata Enrichment and Entity Extraction.
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