Q: Master data management (MDM) is evolving only in marketing, supply chain and retail perspective. None of the solutions talk about client counterparty and securities master in reference to MDM. Isn't the market matured enough to spill out these products as well or are these too complex and is there inadequate expertise in the market?
Majid Abai's Answer:
The reason it seems that evolution of MDM and data integration (DI) are focused around the above initiatives are because most organizations have the same problem in marketing and supply chain areas. Due to this fact, tool vendors and consultants focus on areas that peak the interest of a larger group and you see a lot of write ups on these areas in MDM and customer data integration (CDI). The reality, however, is that many organizations are performing MDM and DI in other areas as well. We do not just hear about them because they do not interest a larger audience. In my opinion, all subject areas need to be subject of MDM and DI, it is just the priority and preference of the organization.
Sid Adelman's Answer:
I don't think MDM is limited only to marketing, supply chain, and retail. It seems to be the current silver bullet in most industries, but be very careful. Your company may want to implement MDM and someone has told them how easy it will be. The technical issues will be difficult; the organizational and cultural issues will break your back. Consider the difficulties of creating a customer MDM. Who owns it? Who will make the important decisions and who will be the tie breaker? How long will it take to reach consensus and will each of the involved parties give their full cooperation? Will each of the departments involved with customer relinquish control? This will be tougher than anyone is willing to admit.
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