CDMP-RMD Exam Dumps : Reference And Master Data Management Exam

Reference and Master Data Management (RMDM) governance processes are designed to manage and ensure the accuracy, consistency, and quality of critical data assets across an organization. These processes focus on defining, maintaining, and governing the shared data entities and attributes that are essential for various business processes. One of the key aspects governed by RMDM is "Data change activity."

Reference and Master Data Definition:

Reference data is a subset of master data used to classify or categorize other data within an organization. It typically includes codes and descriptions.

Master data refers to the critical business information regarding the core entities around which business is conducted, such as customers, products, employees, and suppliers.

Data Change Activity:

This involves tracking and managing the changes made to master and reference data over time. The governance processes ensure that any changes to this data are properly authorized, recorded, and communicated to relevant stakeholders.

Managing data change activity includes monitoring modifications, updates, additions, and deletions of reference and master data.

Importance in Governance:

Effective governance of data change activity ensures that the integrity and quality of master data are maintained. It prevents unauthorized changes that could lead to data inconsistencies and inaccuracies.

It supports audit trails and compliance with regulatory requirements by providing transparency and accountability for data changes.

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.

References:

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.

Planned control activities are not considered master data. Here’s why:

Master Data Examples:

Categories and Lists: Master data typically includes lists and categorizations that are used repeatedly across multiple business processes and systems.

Examples: Product categories, account codes, country codes, and currency codes, which are relatively stable and broadly used.

Planned Control Activities:

Process-Specific: Planned control activities pertain to specific actions and checks within business processes, often linked to operational or transactional data.

Not Repeated Data: They are not reused or referenced as a stable entity across different systems.

References:

Data Management Body of Knowledge (DMBOK), Chapter 7: Master Data Management

DAMA International, "The DAMA Guide to the Data Management Body of Knowledge (DMBOK)"