APR 2, 2014 3:40am ET

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Master Data Management in 2014: Solid but Boring?

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I would say, what’s more important to the average company: shipping the right product to the right customer, billing the right amount to the right customer, providing the appropriate service level to a specific customer or understanding what Facebook dilettantes are saying about your company and your product. It’s black and white. Now some big companies, some of the CPG companies, some of the online retailers have to know what people are saying about them. Are people having problems with a given product or is it just one or two naysayers who like to make big noise? And how influential are those naysayers? Or what are the features people are asking for in the products that don’t show up in the surveys? Or what are they really using our product for? And that sort of information comes out of the forums, user boards and looking at the actual usage of their products. So there are certainly companies and industries where big data is vital, fundamental to what they’re doing, especially if you’re an online company. On the other hand, the majority of the banks I’m talking to, they couldn’t give a diddle about what somebody’s saying about them on Facebook or what somebody’s tweeting about them. They’ve got bigger problems: know your customer reporting, certain regulatory reports they have to produce, and more and more these regulations being put on them every year. And it’s the same with the insurance companies, the manufacturers and so on. So if you look at mainstream business, blocking and tackling – the quality of the customer, product and supplier data – is vital.

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Comments (2)
Thanks Julie. Those are all good points that you have outlined. But, reference data, MDM or governance is hard to tackle if you don't have a good data management practices. I don't see much discussion on this aspect of the problem. The fundamentals are missing. Lack of conceptual, logical models, enterprise glossaries (aside their relevance and quality) and non existence of any lifecycle for those are symptoms of much bigger problems that one has to deal with before embarking into MDM or BIG data. I don't see t any discussion around this problem which is foundation for any value added solution. There are lacks of skills and people especially in management layer that understand its importance. Data management is hard and boring but, somebody has to do it.
Posted by Joel M | Wednesday, April 02 2014 at 11:16AM ET
"Reference data is something that can be done in the cloud for the smaller companies that are international and highly distributed. Rather than setting up yet another server and going through all the networking and security issues, they can just host their reference data application and then the different IT departments around the globe or around the country for their company can access that. (pulled from the article)" What about Personally Identifiable Information laws, particularly outside of the US, for customer data?
Posted by Charles O | Wednesday, April 02 2014 at 7:21PM ET
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