The following is a technique that you can find useful when implementing your Reference and Master program:
Answer(s): A
When implementing a Reference and Master Data Management (RMDM) program, it is crucial to utilize techniques that ensure consistency, accuracy, and reliability of data across various systems. Business key cross-references is one such technique. This technique involves creating a mapping between different identifiers (keys) used across systems to represent the same business entity. This mapping ensures that data can be accurately and consistently referenced, integrated, and analyzed across different systems.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 11: Reference and Master Data Management."Master Data Management and Data Governance" by Alex Berson and Larry Dubov, which emphasizes the importance of business key cross-referencing in MDM.
Which of the following is NOT ,1 characteristic of n deterministic matching algorithm?
Answer(s): B
Deterministic matching algorithms rely on exact matches between data fields to determine if records are the same. These algorithms require high-quality data because any discrepancy, such as typographical errors or variations in data entry, can prevent a match.Characteristics of deterministic matching:It has a discrete all or nothing outcome (C).It matches exact character to character of one or more fields (D).All identifiers being matched have equal weight (E).Since deterministic matching is highly dependent on the quality of the data being matched, option B is incorrect.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 11: Reference and Master Data Management."Master Data Management and Data Governance" by Alex Berson and Larry Dubov.
Within the Corporate Information Factory, what data is used to understand transactions?
Answer(s): C
In the context of the Corporate Information Factory, understanding transactions involves integrating various types of data to get a comprehensive view. Master Data (core business entities), Reference Data (standardized information), and External Data (information sourced from outside the organization) are essential for providing context and enriching transactional data.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 3: Data Architecture and Chapter 11: Reference and Master Data Management."Building the Data Warehouse" by W.H. Inmon, which introduces the Corporate Information Factory concept.
For MDMs. what is meant by a classification scheme?
In Master Data Management (MDM), a classification scheme refers to a structured way of organizing data by using codes that represent a controlled set of values. These codes help in categorizing and standardizing data, making it easier to manage, search, and analyze.
Information Governance is a concept that covers the 'what', how', and why' pertaining to the data assets of an organization. The 'what', 'how', and 'why' are respectively handled by the following functional areas:
Answer(s): D
Information Governance involves managing and controlling the data assets of an organization, addressing the 'what', 'how', and 'why'.'What' pertains to Data Governance, which defines policies and procedures for data management. 'How' relates to Information Security, ensuring that data is protected and secure. 'Why' is about Compliance, ensuring that data management practices meet legal and regulatory requirements.
DAMA-DMBOK: Data Management Body of Knowledge (2nd Edition), Chapter 1: Data Governance."Information Governance: Concepts, Strategies, and Best Practices" by Robert F. Smallwood.
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