In my recent post "The Organizational Challenge of Enterprise Information Management", I recommended to create a high-level conceptual data model as a target map for Enterprise Information Management (EIM), with Master Data Management (MDM) and Data Governance being core strategies to transform the organization from legacy structure to a data-driven business.
Below I have included a (not necessarily exhaustive) example of a high-level EIM map for an insurance company.
Below I have included a (not necessarily exhaustive) example of a high-level EIM map for an insurance company.
Click to enlarge |
(The blue rectangles are Master Entities while the grey rectangles represent the major transactional entities.)
The decisive advantage of such an EIM map as a strategic orientation is: This target is not moving! As long as the business subject does not change (in this example: as long as the business does not add or drop any insured risk), this model does not need to be altered. It represents a sound structure that was valid 20 years ago (even if the term Master Data Management was not coined at that time), it is applicable today, and I dare to predict that it will still be in 20 years from now.
If applications are aligned to this model, they can answer business questions that a disparate system cannot (or cannot sufficiently), e.g. such as:
The decisive advantage of such an EIM map as a strategic orientation is: This target is not moving! As long as the business subject does not change (in this example: as long as the business does not add or drop any insured risk), this model does not need to be altered. It represents a sound structure that was valid 20 years ago (even if the term Master Data Management was not coined at that time), it is applicable today, and I dare to predict that it will still be in 20 years from now.
If applications are aligned to this model, they can answer business questions that a disparate system cannot (or cannot sufficiently), e.g. such as:
- Which policies are owned by a certain party? (Single view of the customer)
- Who are the most profitable / most risky customers? (Risk management)
- Are there same groups of people that are - with changing roles - repeatedly involved in car accidents? (Fraud detection)
Being implementation-independent, a high-level EIM map will help any business in any industry to develop a long-term strategy to move from a siloed data / application architecture to integrated Enterprise Information Management and to provide answers to any organization's respective business questions.
Thanks so much about High level for insurance!
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