How do you make the best decision in terms of whether to build or buy, when a new Master Data Management project is introduced?
The above infographic takes you through the six most important questions to consider, when making this decision.
1. What are the requirements of this solution?
These are likely to change over time, but what are, for example, you business and architectural requirements?
2. Are your business requirements urgent?
Do you have enough time to dedicate your in-house resources to building a solution?
3. Have you analyzed your existing technology landscape?
Are there perhaps other teams in your company that have similar needs?
Do you have existing technology that could address the requirements?
4. How will the solution be supported? By whom?
Who are your business stakeholders, and how should you solution be supported from a technical standpoint?
5. Do you have the available in-house resources to create the solution?
Do you have enough in-house expertise to build a system, synthesize the requirements, architect the solution, debug the software, and also plan for future needs and scalability?
6. Will your data solution be tactical or strategic?
Your IT staff may be able to meet a current need, but can that solution scale to also meet future needs?
These six essential questions on whether to buy or build an MDM platform, will provide you with an overview of the advantages and disadvantages attached to each solution. Thus, when having answered all these questions, we are quite sure that you will have found the optimal solution for your organization in terms of whether to build or buy your Master Data Management solution.
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