EDM arose to address circumstances where users within organizations independently source, model, manage and store data.
EDM is a challenge for organizations because it requires alignment among multiple stakeholders (including IT, operations, finance, strategy, and end-users) and relates to an area (creation and use of common data) that has not traditionally had a clear “owner.” The governance challenge can be a big obstacle to the implementation of an effective EDM because of the difficulties associated with providing a business case on the benefits of data management.
Implementation of an EDM program encompasses many processes – all of which need to be coordinated throughout the organization and managed while maintaining operational continuity.
Managing stakeholder requirements is a critical, and ongoing, process based in an understanding of workflow, data dependencies and the tolerance of the organization for operational disruption.
One of the core challenges associated with EDM is the ability to compare data that is obtained from multiple internal and external sources.
Building the platform or partnering with an established technology provider on how the data gets stored and integrated into business applications is an essential component of the EDM process.