According to the Chinese Zodiac, 2020 is the year of the rat. Well, scoot over Templeton, because it’s also going to be the year of the Automated Business Glossary for business intelligence and data governance teams everywhere.
Let’s look at why:
Companies need to utilize shared data to make informed decisions, but when data is sent from one department to another there is always the risk of miscommunication. Standard terms in sales might have a different understanding in accounting, and crossed wires can lead to problems.
One of the best ways to solve this issue is to create a business glossary. This is a company-wide document that defines all important terms used internally, with customers and with vendors. The biggest problem with business glossaries is that they are too time-consuming to create and maintain.
However, advances in automated business glossaries have made the process more streamlined than ever. These improvements are so significant that we are ready to call 2020 the year of the Automated Business Glossary. Let’s take a look at how these new tools can help your company.
What Goes into Building a Business Glossary?
A lot of people think that putting together a business glossary is as simple as starting a shared Excel file or Google Doc and listing terms. While this is a start, creating a business glossary that will yield useful information for everyone is MUCH more involved than this.
A business glossary is a collaborative tool and should be contributed to by important staff members from all departments. It should go beyond just listing definitions to key terms. Those terms include entry data, authorship information and they should be interlinked so anyone who looks at it can gain a full understanding of the processes being described. In addition, proper business glossary software provides a pathway to build lineage and for metadata management for analysis of the data contained within it.
Automated Business Glossary Tools Streamline Processes
The complexity of creating a business glossary the correct way may have kept you from building one, even if you are aware of the value it can provide. It can be a difficult process that is both time-consuming and expensive. Without the proper tools, even a large investment of time and resources can result in a lackluster final product of limited use.
Octopai‘s new Automated Business Glossary module provides a comprehensive solution to these obstacles. How?
Well, first, it automatically extracts all the objects from the reporting tools and the data warehouse, and then creates them within the business glossary with all descriptions from the system of origin.
Second, it links all terms (physical, semantic and presentation layer) across all reporting systems connected to Octopai with the data warehouse, making it SO MUCH EASIER to manage one’s metadata.
By automating your business glossary, you can have access to a lightweight, flexible interface that can be modified by different users with ease.
Not sure if you need a Business Glossary or a Data Dictionary?
Check out our eBook on Automated Business Glossaries to learn more.
View the eBook
Benefits of an Automated Business Glossary
Since its introduction in September, Octopai clients who used the automated business glossary tools reported that they were finally able to construct a business glossary. Companies who have been stalled in the creation of the document for months, maybe years, now have the tools to get it done in seconds.
With one universal resource that is used across your entire organization, you will never have to worry about whether you have accessed the correct data element ever again. Departments can share information without having to worry about whether it will be understood when it reaches another group.
This is why 2020, in addition to being the year of the rat, is going to be the year of the Automated Business Glossary as well. You can eliminate the hurdles that have kept you from creating this valuable document and bring a new level of efficient communication to your team.
