Normally, we think of changes to reference data as something that is provided and which the Reference Data Management (RDM) function of the enterprise simply pushes into the relevant databases. However, this is not always so. In some cases reference data changes have to be planned, rather than the changes simply applied. This is something that the RDM function needs to be aware of.
The preparation work may involve informing users, and there may be nothing special that has to be done with the reference data residing in data stores. For instance, we have seen the country Swaziland change its name to “Eswatini”. It would have been helpful to have warned users about this in advance so they could be prepared for the change when it happened.
A more significant set of preparation tasks happened a number of years ago, when the Euro was introduced. This involved enterprises ensuring that they could do the appropriate currency conversions. Some enterprises took years to do this preparation work at the data and application level.
So preparation for reference data changes is something that needs to be considered. Of course, there can be difficulties. Sometimes circumstances can change such that an announced update is postponed or cancelled. So, any preparation for change will always have an element of uncertainty introduced into it. RDM functions need to be aware that preparation for reference data changes may sometimes be necessary, rather than simply processing and applying changes.