This April, I had the privilege of speaking at Collaborate 2014 in Las Vegas. My session, “The Top 5 Reasons DRM Will Add Value to Your Master Data Management Process,” highlighted the functionality and purpose of DRM in organizations, and how it really changes the game in Master Data Management practices. This presentation was really targeted towards those who currently had a DRM application, and those who were looking to see if DRM could add value to their current EPM environment.
The value-adds of DRM I discussed in my presentation included:
- Bonus: DRG Overview
Overall, Data Relationship Management is a one-stop shop for managing your metadata, and providing insight and reporting into the process. This is so different than any other metadata management tool in the EPM suite – EPMA, HFM Metadata Manager, EAS, Outline Load Utility/Planning – none of these tools can provide this insight. The closest tool would be ODI – yet that still mainly does metadata transformation, and doesn’t provide the ease-of-use for business users, like DRM.
High level value propositions of implementing DRM include:
- Creates consistency across your reporting structures and systems – making reconciliation easier across the organization.
- Reduces overhead for system administrators – utilizing validation for down-stream systems, and automation to sync all applications from one single point of change.
- Provides a view into the past, and how your organization has changed – but also a window to the future; allowing analysts to focus on the financial impacts of a change, instead of manual report reconstruction.
- Produces insight to organizational change in the heat of an audit, and keeps track of reporting changes.
However, the biggest value add, is that it is a tool that encompasses all of these features at once – and there is no other tool in the entire Oracle toolkit that can boast even a fraction of these features. Data Relationship Management comes at a cost, but improves consistency, time management, and insight.
At Collaborate, I was lucky enough to meet Toby Hatch, a Senior Marketing Director for EPM at Oracle, and was interviewed for my presentation. If you’d like to see my interview – it’s on the Oracle YouTube channel here.
If you’d like a copy of my PowerPoint and White Paper from Collaborate 14, please send me an email, I’d be happy to forward it on to you!