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What does Bernie Madoff have to do with MDM?

Changing from Account to Customer orientation

MDM, Single View and Customer Data Integration are all about changing the fundamental orientation of your business from account to customer. The information about customer is buried inside the account data that is the life blood of your business applications. It could be accounts in 41 different systems or 41 accounts in a single source like the BMIS client list. From a “customer” perspective for this book of account business we would like to know:
  1. How many of these accounts does Bernard own?
  2. What relationships does he have to other accounts?
  3. What are the different addresses related to Bernard?
  4. What other information is there about the accounts he owns?
The answer to all those questions is sitting there as data in the registration labels. The Holy Grail how do you turn a long string of freely formatted data into a customer centered view, integrate that view into your current environment and do it for 410,000, 4,100,000 or 41,000,000 accounts?

The first question should be “Who owns this data?” or “Who is responsible for establishing the business rules and making the business decisions?” necessary to design, develop, test and implement a solution. That will also answer the other first question which is “Why are we doing this?” or “What business problem is this going to solve?” or “What’s the business benefit we expect to achieve when we solve this problem?”.

For this exercise I’ll take responsibility for establishing the business rules in support of creating a party centric view of these 41 account records to answer the four questions. Business rules are:

  1. The Owner of the Account is the first Party named on the Account at the Address listed.
  2. “Care Ofs” have a responsibility to transfer a piece of mail from the postal system to the final addressee. They are a Party at that Address and they have a “Care Of relationship” to the addressee Party.
  3. Parties will be assigned Types of Person, Business, Estate, Trust, IRA or Foundation.
  4. Party to Account Relationships are Owner, Custodian, Care Of, Trustee and Executor.
Next let’s suggest a simple party centric model. If we can understand and translate the data on the registration label into this representation we can use it to answer our questions about how a particular party (in this case Bernard Madoff) participates with other parties, accounts and locations in this book of business.

core party data model

 

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