Slides: Enhance Communication and Productivity with a Universal Business Glossary
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Companies are expanding their information systems beyond relational databases to incorporate big data and cloud deployments, creating hybrid configurations. Database professionals have the challenges of managing multiple data sources and running queries for analytics against diverse databases in these complex environments. Struggling with achieving a common business language? Follow a proven, tested plan to get your business aligned. Inconsistent use of business terms is a serious business problem – but we can’t build business glossaries from scratch. Effective communication is the key to business success. Misunderstandings caused by incorrect interpretation of business data increase the risk of expensive errors and expose huge business risks. Many glossary initiatives have started and stopped because they did not have an effective process and template structure for developing a commonly accepted vocabulary of business terms. Gone are the days where organizations can manually develop a business glossary from scratch. You can save tremendous time and cost in developing an effective business glossary via a Universal Business Glossary. One way to resolve this problem is to jump-start the business glossary initiative. Quickly and efficiently establishing a Universal Business Glossary™ delivers the collection and definitions of the most important business terms in the organization. A Universal Business Glossary™ addresses the need to provide clarification, structure, and content, while providing a tremendous jump-start to any business glossary initiative. In this presentation we will show how an organization can leverage powerful solutions and approaches to: • Accelerate the creation of a business glossary • Effectively design, build, and implement a business glossary • Use a proven standardized business vocabulary • Leverage quality and proven templates for business terms and definitions • Visualize the connections between business terms, policies, rules, and technical metadata
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Slides: Enhance Communication and Productivity with a Universal Business Glossary
- 1. SANDHILL CONSULTANTS Enhance Communication and Productivity with a Universal Business Glossary™ Sponsored By: Sandhill Consultants Ltd, with special guest Len Silverston from Universal Data Models LLC. Feb 25th, 2020 at 2:00 PM ET
- 2. SANDHILL CONSULTANTS Your Speakers Robert Lutton Vice President, Sandhill Consultants Jeffrey Giles Principal Architect, Sandhill Consultants Len Silverston President, Universal Data Models, LLC
- 3. SANDHILL CONSULTANTS Engaging - Question Is your organization currently developing a business glossary? -1 Yes -2 No, and not on the horizon -3 Not yet, but reviewing options
- 4. SANDHILL CONSULTANTS Is your organizations using templates to jump-start your Business Glossary efforts? -4 - Yes -5 - No Engaging - Question
- 6. SANDHILL CONSULTANTS Glossary + Dictionary = Catalog
- 7. SANDHILL CONSULTANTS Glossary – Why? • Communication • Simplification • Control
- 8. SANDHILL CONSULTANTS Challenges • So many terms! • Too much time! • Quality!
- 9. SANDHILL CONSULTANTS A LOT OF WORK!!!!!!!
- 11. SANDHILL CONSULTANTS Universal Domains PARTY ORDER PRODUCT/ OFFERING INVOICING, PAYMENT FINANCE, ACCOUNTING HR WORK EFFORT LOGISTICS IT CUSTOMER PARTNER EMPLOYEE
- 12. SANDHILL CONSULTANTS Industries PARTY POLICY INSURANCE PRODUCT INVOICING/ PAYMENT ACCOUNTING CLAIMS DOCUMENT SHIPMENT PARTY APPOINTMENT HEALTHCARE OFFERING INVOICING/ PAYMENT ACCOUNTING HEALTH CARE DELIVERY MED EQUIP & SUPPLIES Health CareInsurance PARTY ENGAGEMENT SERVICE INVOICING/ PAYMENT ACCOUNTING DELIVERABLE DOCUMENT SHIPMENT Professional Services
- 13. SANDHILL CONSULTANTS UBG Financial Services and Banking Domains ACCOUNTING RULEs WORKEFFORT IT HR ACCOUNTTRANSACTION CLIENT FINANCIAL PRODUCT AGREEMENT PARTNER ACCOUNT
- 14. SANDHILL CONSULTANTS UBG Manufacturing Domains CUSTOMER ORDER PRODUCT/ INVENTORY INVOICING, PAYMENT FINANCE, ACCOUNTING HR WORK EFFORT LOGISTICS IT PARTNER
- 15. SANDHILL CONSULTANTS UBG Professional Services Domains CLIENT SERVICE ENGAGEMENT INVOICING/ PAYMENT ACCOUNTING DELIVERABLE DOCUMENT SHIPMENT IT HR PARTNER
- 16. SANDHILL CONSULTANTS Engaging - Question In your organization, what domains are of greatest interest? Common - 6 Customer - 7 Product - 8 Financial - 9 Other? Industry - 10 Financial Services - 11 Healthcare - 12 Insurance - 13 Other?
- 17. SANDHILL CONSULTANTS Structure Within Domains • Common Reference Terms 1.Time …. 1.Unit Of Measure 1.Unit Of Measure Abbreviation 2.Unit of Measure Type … • People and Organizations 1.Person 1.1 Person Role 1.1.1 Salesperson 1.1.2 Family Member 1.1.3 Worker 1.1.4 Employee 1.1.5 Contractor 1.1.6 Contact 1.1.7 Manager 1.2 Person Name 1.2.1 NameType 1.2.2 Name Component 1.2.3 Person First Name 1.2.4 Person MiddleName 1.2.5 Person Last Name 1.2.6 Person Suffix 1.2.7 Person Nickname 1.2.8 Person Mother’s Maiden Name … • Product 1. Service 2. Good 3. Solution Financial Services 1. Person Role 1. Retail Investor 2. Financial Advisor 2. Organization Role 1. Financial Institution 2. Institutional Investor 3. Contra Broker 4. Clearing Agent 5. Dealer 6. Broker 7. Credit Rating Agency 8. Market Data Provider 9. Financial Underwriter 3. Party Role 1. Client 2. Beneficiary 3. Trustor 4. Trustee 5. Loan Customer
- 19. SANDHILL CONSULTANTS Definition Guidelines GOVERN YOUR DEFINITIONS!
- 20. SANDHILL CONSULTANTS CUSTOMER A role played by a person or organization that has purchased, been shipped, or used products from our enterprise. For example, if "John Smith" has bought products from our enterprise at any point in time, then this person would be considered a customer. Likewise if "AAA Company" has been shipped products from our enterprise, then they would be considered a customer. If “Jane Doe” was a current prospect and is contemplating buying products soon but has not yet purchased, been shipped or used our products, she is not considered a customer. UBG Repository template definition
- 21. SANDHILL CONSULTANTS Steps in Re-Use 1) Points 2) Possibilities 3) Phrases 4) Pick 5) Propose
- 22. SANDHILL CONSULTANTS Possible Result • A role played by a person or organization that has purchased, been shipped, or used products from our enterprise. Customers also include resellers of our products.
- 23. SANDHILL CONSULTANTS Universal Business Glossary Template Definition PRODUCT A good, service, or solution (combining goods and services) that is, was, or will be offered for sale. Products include both tangible goods, which are called GOODs, and non-tangible offerings, which are called SERVICEs. For example, a GOOD may include specific types of pens, furniture, equipment, or anything that can be physically stored. (Even a software program, which is a GOOD, can be physically stored.) The alternate subtype, SERVICE, is for products that involve selling people's time and expertise such as consulting services, legal services, or any other services that provide time and/or expertise. Thus, ‘A254 Widget’, an offering that our enterprise provides, is a product.
- 24. SANDHILL CONSULTANTS Universal Business Glossary (common modification) PRODUCT A good, service, or solution (combining goods and services) that is, was, or will be offered for sale by our enterprise. Products include both tangible goods, which are called GOODs, and non-tangible offerings, which are called SERVICEs. For example, a GOOD may include specific types of pens, furniture, equipment, or anything that can be physically stored. (Even a software program, which is a GOOD, can be physically stored.) The alternate subtype, SERVICE, is for products that involve selling people's time and expertise such as consulting services, legal services, or any other services that provide time and/or expertise. Thus, ‘A254 Widget’, an offering that our enterprise provides, is a product. A product that our competitor offers, namely, ‘B57 Widget’ is not considered a ‘product’ and will be considered a ‘competitive offering’.
- 25. SANDHILL CONSULTANTS Per Definition Average time spent: 4 hours Average time saved 50% Thousands of terms Thousands of hours saved! Better Quality
- 26. SANDHILL CONSULTANTS DO NOT START FROM SCRATCH!!!!!
- 27. SANDHILL CONSULTANTS Engaging - Question What is most critical to your organization regarding definitions (order them from 1-5)? - 14 Developing solid, meaningful definitions? - 15 Jump-starting definition? (saving time and money) - 16 Common understanding of terms? - 17 Organizing terms within a catalog/taxonomy? - 18 Other?
- 28. SANDHILL CONSULTANTS Universal Business Glossary Advantages • Jumpstart • Time dramatically reduced • Starting point • Major functions and industries
- 30. SANDHILL CONSULTANTS Technology People & Business Alignment Between Business & IT
- 31. SANDHILL CONSULTANTS Data Catalog Management •Business Meaning •Business Policies and Rules •Term Governance •Data Catalog Connections
- 37. SANDHILL CONSULTANTS Different Contexts Lineage Across Industry Domains
- 39. SANDHILL CONSULTANTS Engaging - Question How are you planning on technically storing your business glossary? - 19 Excel spreadsheet - 20 SharePoint - 21 Data catalog product - 22 Data catalog with jump-started definitions - 23 Other?
- 40. SANDHILL CONSULTANTS Possibilities • If you would like the bullet point list of the 16 definition guidelines, please email me at Robert.Lutton@SandhillConsultants.com • Challenge us. Give us one term to define and we will show you how to increase quality while saving time and money
- 41. SANDHILL CONSULTANTS 41 Questions? Robert Lutton +1 (905) 847-6882 or Robert.Lutton@SandhillConsultants.com