Even as the Master Data Management (MDM) market matures, major industry shifts continue to unfold. Those shifts could redefine how organizations tackle data governance, customer service, supply chain management and other key business issues.
Here are nine MDM trends customers must navigate, according to Aaron Zornes, chief research officer at The MDM Institute:
1. Market Consolidation: Giants like IBM, Informatica, Oracle and SAP have expanded their MDM footprints and product portfolios through M&A and other moves.
2. Big Data: Here, multiple waves -- growing data volumes, third-party reference data, social network streams and unstructured data -- continue to present new analytics opportunities even as they complicate overall information management.
3. MDM Duology: This typically involves customers embracing an industry giant (say, IBM, Informatica, Oracle or SAP) in combination with a tier-two or tier-three option in such areas as reference data management (RDM).
4. Location, Location, Location: Zornes continues to track an "explosion" of location-aware services.
5. Finding the Real Value: Customers, meanwhile, are working to push beyond data management and toward actionable insight.
6. Mobile: Savvy IT architects are planning for next-gen MDM capabilities to address an increasingly mobile society.
7. Never Done: Within many global 5000 companies, MDM is a relatively mainstream business strategy involving master approaches for customer or product information. But...
8. Perfect Storm: Big data, cloud and mobile have created a perfect storm. Once leading-edge MDM architectures are quickly becoming obsolescent and/or IT "money pits."
9. Evolution Required: Master data is "required to provide competitive advantage, increase customer service levels and drive new product/service combinatorial market offerings." As a result, MDM must "embrace big data in order to achieve such capabilities... as well as cloud-enablement/deployment/integration."
Zornes and other MDM shared those insights during the recent MDM and Data Governance Summit in San Francisco.
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