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

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.

A key point of a Master Data Management (MDM) program is that it must adapt and evolve over time. The statement that an MDM program "can be effectively created and managed long-term using the same methodology" is not correct. MDM programs must continually evolve to address new data sources, changing business requirements, and advancements in technology. As data inventory grows and the data landscape changes, MDM methodologies and strategies need to be reassessed and updated to remain effective. This adaptability is crucial for maintaining data quality and relevance.

References:

DAMA-DMBOK2 Guide: Chapter 10 – Master and Reference Data Management

"Master Data Management and Data Governance" by Alex Berson, Larry Dubov

Metrics tied to Reference and Master Data Quality generally include:

Data Sharing Usage: Measures how often master data is accessed and used across the organization.

Rate of Change of Data Values: Tracks how frequently master data values are updated or modified.

Service Level Agreements (SLAs): Monitors adherence to agreed-upon service levels for data availability, accuracy, and timeliness.

Data Sharing Volume: Measures the volume of data shared between systems or departments.

Excluded Metric - Operational Functions: While operational functions are important, they are not typically considered metrics for data quality. Operational functions refer to the various tasks and processes performed by systems and personnel but do not directly measure data quality.

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)"