Schaeffler receives Good Practice Award for excellence in data quality management
German technology company and automotive supplier pursues an elaborate data management strategy, including the use of performance indicators to measure and sustainably improve data quality
(PresseBox) - ?Being awarded such a prestigious prize by an international jury of data management experts is really a great honor for Schaeffler. The CDQ Good Practice Award is an acknowledgment of our achievements so far, and it pushes us to continue with our work in order to keep ensuring the quality of our data across the entire group?, said Mr Markus Rahm, Vice President Corporate Data Management, who accepted the award on behalf of the Schaeffler Group during a ceremony in Cologne. The CDQ Good Practice Award is a joint initiative of the Competence Center Corporate Data Quality (CC CDQ) and the European Foundation for Quality Management (EFQM) launched in 2013.
The good practice presented by Schaeffler illustrates how the company systematically evolved its master data management initiative starting in 2009. A self-assessment conducted two years ago revealed that Schaeffler had successfully built up capabilities and raised the level of maturity in all relevant areas of master data management. Aspects still demanding for substantial improvement were successfully tackled by Schaeffler during the past two years. The company has continued to develop its data management strategy further and communicate this strategy across the entire group. Among other things, Schaeffler uses performance indicators to measure and sustainably improve the quality of its data. Furthermore, the company defined clear roles and processes for data maintenance and implemented appropriate data models and metadata models. All these measures combined have led to a reduction in service processing time and to a continuous improvement of data quality (customer master data processing time has been reduced by 60 %, for example). ?Schaeffler is pursuing a strategy of profitable growth, based on key success factors such as quality, technology, and innovation. The mission of our master data management department is to support this endeavor by providing data of high quality in order to ensure efficient business processes,? said Markus Rahm.
?In the face of Industry 4.0 and the widespread emergence of digital business models, enterprise data is becoming mission critical. Enterprises must start to consider data as an asset, which needs to be managed with the same attention and care other, traditional assets are managed. For the fourth consecutive year, the CDQ Good Practice Award acknowledges world-class initiatives in data management that can be considered exemplary in this endeavor,? said Prof. Dr. Christine Legner, head of the CC CDQ.
Joining Schaeffler in this year?s final round of the competition were Emmi, the leading milk processing company in Switzerland, presenting their approach towards an integrated master data management, and Merck, the German healthcare and life science specialist, showcasing their concept of exploiting the benefits of data analytics for data management. The international jury, consisting of data management experts from research and practice, finally ranked Schaeffler?s good practice top and declared the German technology company and automotive supplier the winner of the 2016 CDQ Good Practice Award.
About Schaeffler
The Schaeffler Group is a globally operating, integrated technology company and automotive supplier. In 2015, Schaeffler generated revenues of over 13.2 billion euros. Employing about 85,000 people worldwide, Schaeffler is one of the world''s largest family companies. With 170 locations in over 50 countries, Schaeffler leverages a worldwide network of manufacturing sites, research and development facilities, and distributors. As a global development partner and supplier, Schaeffler maintains stable and long-term relationships with its customers and suppliers.
About the CDQ Good Practice Award
The CDQ Good Practice Award was launched in 2013 as a joint initiative of the Competence Center Corporate Data Quality (CC CDQ) and the European Foundation for Quality Management (EFQM) for acknowledging world-class corporate data management initiatives. As in the previous years, the good practices submitted by the participating organizations were evaluated by an international jury of data management experts. The three companies that made it into the final round of the competition presented their good practices in web sessions for the jury to decide about the winner.
The international jury of the 2016 competition consisted of the following renowned researchers and practitioners in the field of corporate data management:
Dr. Wolf Engelbach (Fraunhofer-Institut für Arbeitswirtschaft und Organisation, IAO)
Prof. Dr. Andy Koronios (University of South Australia)
Jodi Maciejewski (American User Group ? Data Governance SIG)
Dr. Geert Opdenbosch (EFQM)
Dr. Philip Woodall (University of Cambridge)
Lwanga Yonke (International Association for Information and Data Quality)
About EFQM
EFQM is a not-for-profit membership foundation with 25 years of experience in supporting organizations achieve sustainable excellence. With its carefully designed portfolio of products and a network of approximately 30,000 organizations of any size and from all industries, EFQM is recognized by institutions and acknowledged by leaders as a key partner to success. EFQM is also the custodian of the EFQM Excellence Model, a non-prescriptive framework created by a team of experts from industry and academia that can be used to gain a holistic view of any organization, regardless of size, industry, or level of maturity.
The Competence Center Corporate Data Quality (CC CDQ) is an expert community and a consortium research program in the field of corporate data management. It unites data management professionals from renowned European enterprises and academics from leading research institutions. Based on latest scientific insights, the CC CDQ develops methods, architectures, reference models, and prototypes needed for efficient implementation of data (quality) management. The participating companies exchange best practices with peers in quarterly consortium workshops and multiple bilateral projects. The core objective of the CC CDQ is to transfer innovative approaches and research results in the domain of data management to everyday business practice. The CC CDQ is headed by Prof. Dr. Christine Legner (University of Lausanne) and operated by CDQ AG in collaboration with the Business Engineering Institute St. Gallen.
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The Competence Center Corporate Data Quality (CC CDQ) is an expert community and a consortium research program in the field of corporate data management. It unites data management professionals from renowned European enterprises and academics from leading research institutions. Based on latest scientific insights, the CC CDQ develops methods, architectures, reference models, and prototypes needed for efficient implementation of data (quality) management. The participating companies exchange best practices with peers in quarterly consortium workshops and multiple bilateral projects. The core objective of the CC CDQ is to transfer innovative approaches and research results in the domain of data management to everyday business practice. The CC CDQ is headed by Prof. Dr. Christine Legner (University of Lausanne) and operated by CDQ AG in collaboration with the Business Engineering Institute St. Gallen.
Datum: 08.12.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 1474674
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