The Benefits of Master Data Management

The first step of Master Data Management is identifying the most critical and important data for your company. Doing this step alone can help shine light within the organization on what is important. MDM can help prevent critical errors because, once controls and business rules are implemented on your critical data, you are less likely to make the mistakes of the past and you help yourself from preventing mistakes in the future. The company is now focused on its critical data, on keeping it clean and accurate, and this mentality is spread across the organization.

The task of identifying the most critical information should not be determined by just one person or one group. This task should be done with the help of people across the organization so that everyone takes ‘ownership’ of the idea that the end result had to do with research and work they put forth. It is important, with MDM, to play the political game so that you have support from others in the organization.

Next, Master Data Management can also help prevent fraud. With the passing of Sarbanes-Oxley which holds executives of public companies accountable for their financial statement, these executives have now placed pressure on the organization to get things right. For many companies, Master Data Management is one of the pieces for ensuring accuracy and preventing fraudulent reporting. Master Data Management creates the rules that would make it difficult to have false or inaccurate data. With the prospect of an executive going to jail should they have falsified financial reports, it is critical that these statements are correct.

Finally, MDM can be used to make your organization smarter and more flexible. By having accurate data for your most important information, you can be sure that your models, projections, and predictions are as accurate as they could be. If you feed bad data into your forecasting models, the results that are output are nothing that could be relied on. By starting with valid data you are much more likely to produce results that your organization can depend on.

There are many benefits to implementing data governance. MDM can help keep your CEO and CFO out of jail, it can help prevent critical and embarrassing mistakes, and it can help your company succeed and thrive well into the future.

Diverse Offerings of Hotels in Different Destinations

These days, hotels are no longer just a place for weary travelers to rest for the night before setting off to explore their destination the next day. Staying in a hotel has taken on new meaning with the evolution of the purpose of hotels. Other than providing their guests with overnight accommodation, many hotels also cater to their other specific needs by providing an increasing number of business and leisure amenities and services.

To this end, hotels have adapted to their specific locations by offering specific amenities that complement their surroundings, thus enabling their guests to enjoy a fulfilling overall hotel experience that transcends a mere comfortable night’s rest. The hotels destination is thus just as important, if not more important than the hotel itself as hotels in different destinations can offer drastically different experiences that tailor to specific niche travel markets.

I shall now talk about the characteristics of hotels in three common hotels destinations and offer some tips to help you choose a suitable beach hotel, ski resort or city hotel.

Beach hotels

Lovers of sun, sand and sea can take their pick from numerous beach hotels and resorts situated along costal areas. Before you choose, however, it is a good idea to ask yourself what kind of amenities you want from your hotel that would make your beach holiday an unforgettable one.

Obviously, easy access to the beach is the most important feature of any beach hotel. If you are travelling with your family, you might want to consider a beach resort with many fun activities and facilities for the kids, such as a water park or trampolines. If you are the active sort, do check if your chosen hotel offers water sports such as snorkeling, water skiing, parasailing and kayaking.

Ski accommodations

In contrast, if you would prefer an action-packed winter holiday instead, you may want to settle for a ski accommodation. Choosing a ski resort hotel is ideal if you want to have immediate access to fun-filled skiing action on slopes in the resort premises as well as on-site amenities such as restaurants and room service.

If your group is new to the activity, do ensure that the resort offers lessons by qualified instructors. It is also advisable to check if the resorts have slopes that are suitable for the skiing competency of your group members. Proximity to the ski lift and village centre from your hotel is also essential for maximum convenience while you are enjoying your ski holiday.

City hotels

As opposed to the above, city hotels have adapted to the faster pace of urban living and generally provide more amenities for business travelers to stay in touch with work, such as business centres and meeting rooms.