Memorandum of Understanding
79 Entities |
A non-binding agreement between two or more parties outlining the terms and details of a mutual understanding or agreement that includes each party's requirements and responsibilities.
WAND is the industry leader in developing and providing pre-built foundation taxonomies to companies around the world to improve organization, tagging, and search of unstructured and semi-structured information. Now, WAND has taken their decades of experience in building these best-in-class taxonomies and applied it to Common Data Models.
But what is a Common Data Model? Common Data Models help your company standardize that logical infrastructure that so many related applications can operate on and share the same data. WAND's Common Data Models contain a predefined, uniform set of metadata entities, definitions, types, and synonyms that allow your data and its meaning to be shared across your organization and applications that you use every single day.
This framework helps you "add the small details" to your data project by expanding the depth of the systems already in place! By using a prebuilt Common Data Model, your company can save time and energy while simultaneously increasing the efficiency of your development and execution processes.
No Common Data Model is an island! Below are some of our suggested additions for Common Data Models. We have also included a related taxonomy and our suggestion for a Taxonomy Suite! All of our products help you make better use of your data with foundation metadata models.
Want to chat about what your organizational needs are and how our products can help? Contact us now!
Suggested Common Data Models
The WAND Taxonomies are foundation taxonomies, meaning they are designed to provide a strong starting point which can then be customized for the needs of a specific business. It’s difficult to find a taxonomy that will be a perfect fit for your needs straight out of the box, so foundation taxonomies are a great place to start because they can provide an initial 80% starting point and jumpstart. With foundation taxonomies, the time spent developing taxonomy is dramatically reduced. Foundation taxonomies provide a common-sense starting point for all stakeholders in a taxonomy project so that targeted feedback can be provided to customize the taxonomy specifically for your needs.
Suggested Taxonomy Suite
The WAND Taxonomy Suites are Taxonomy packages that include all the relevant domains of knowledge for your specific industry. From Health Care to Aerospace to Utilities, there is a suite curated for you in your organization!
Each suite outlines the WAND Taxonomies that address all of the knowledge domains for a specific industry, company, or organization. Within the chosen suite, there are taxonomies that relate to the specific field as well as taxonomies that relate to the operations of the enterprise.