Market pressures and organizational maturity drives new master data management (MDM) trends
Conversations with 31 leading edge organizations seeking business transformation highlight shifts in the MDM trends of the past. Organizations awash in data need to move beyond the clutter and get to the information. More data does not equate to more information. In order to make sense, MDM initiatives now move to align with a new set of focus – business transformation and optimization. Seven key trends now drive the new world of MDM as we enter a new decade.
- Master data management must go vertical to succeed in business. Customers no longer want horizontal solutions. MDM must tailor to industry specific requirements. Results must be relevant to how an industry works.
- Structured and unstructured content will evolve into the MDM ecosystem. Customers seek tools to tie hierarchies and relationships back to unstructured data in the effort to achieve value in information.
- Data in the cloud and SaaS will force hybrid approaches. Cloud based and SaaS models change where and how data becomes augmented. MDM systems must support hybrid models in real-time. Proven data integration must be a given not an afterthought. Data integration must be event driven.
- Master data management styles no longer matter, just the results. Issue of styles get relegated to the IT owner. Business users seek results and actionable insights.
- Data governance and stewardship more important than ever. Processes must align with use cases. Data hygiene needs to be omnipresent but not cumbersome
- Social CRM creates demand for trusted profiles. Organizations now need to understand their advocates and detractors Today’s social and connected world requires more targeted marketing, sales, and service/support programs.
- Business optimization and transformation will require MDM to cover more data types. MDM moves beyond customer, product, accounts, and employees. New forms of content such as location, images, video, and tweet streams will enter the equation.
Expect to see more details on each one of these trends in the coming year.
Where are you with your MDM strategy? Have you deployed? Are you redeploying? Do these trends resonate with you ? Let us know how we can assist or please post or send on your comments to rwang0 (at) gmail (dot) com or r (at) altimetergroup (dot) com and we’ll keep your anonymity.
Copyright © 2009 R Wang. All rights reserved.