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DECEMBER - JANUARYLIFE SCIENCES REVIEW8Emmanuel HuiBy Marc Jenny, Senior Director, Customer Engagement Systems & Advanced Analytics Strategy Lead, Interl. & Japan, Alexion PharmaceuticalsOVID-19 has demonstrated how quickly something that was considered normal can change overnight. The ways we used to interact, communicate, and do business have changed without upfront warning. In addition to changing our daily behaviors in our private lives, from a business perspective, the world has seen the acceleration of a global digital transformation process unlike any other. Even before COVID-19, master data quality and data management was already a top priority, as it is fundamental for the successful end-to-end execution of business processes. The digital transformation acceleration perhaps made clear where data quality is potentially failing or where necessary customer consent was missing in the execution of a new digital strategy.At Alexion, we embarked on an 18-month journey to migrate our master data to a new provider, which we completed just before the COVID-19 outbreak. Having undertaken a successful migration, and with a more robust and clean data set, we were able to act quickly to implement our digital transformation, accelerated by the global pandemic. Here you'll find 7 essential TIPS for the execution of a master data project triggered by a legacy data provider change.ONE ­ Understand and Apply a Specific Legal Framework Governments have implemented more robust data privacy rules and regulations in recent years. In Europe, the General Data Protection Regulation or GDPR has had a ubiquitous impact on business and consumer life. One of the first steps in data management should be to get a clear picture of all existing data sources and ownership rules. What kind of data from your legacy data provider can be kept unchanged, what must be removed from the system, or what must be kept in the system e.g., due to regulatory and compliance obligations? Make sure to clarify with your legacy data provider how data can be shared with a future data provider to execute the matching process. By doing so, you provide clarity, transparency and facilitate professional collaboration during execution.TWO ­ Scoping ­ Reflect on What you NeedA data migration project is an excellent opportunity to clean your database from unused and outdated data. This would be data that is clearly superfluous and/or data that new privacy regulations would require you to remove anyway. Our experience shows that 50%+ of data is outdated after 24 months if not actively managed by your business. So, go for it: assure to align with your regulatory and compliance obligations (See point ONE) and don't be shy in culling any and all extraneous data. It's not an easy task, but when it's done, you'll see clear benefits. THREE ­ Involve all your Stakeholders Early On I recognize this can sound trite, but it's absolutely critical. How often have initiatives just moved forward without genuinely including stakeholders in a concerted and coordinated way? Involvement is not only about informing but involving, taking a journey of collaborative accountability with individuals in your entire relevant ecosystem. Give THE 7 TIPS FOR A SUCCESSFUL MASTER DATA MIGRATION AND ONGOING DATA QUALITY MANAGEMENTIN MY OPINIONC
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