Big data is the all the rage and getting tons of press because it allows organizations to create new and compelling data-driven strategies that help them compete, innovate and capture wallet-share. Perhaps fueled in part by the likes of leading database vendors or system integrators looking to cash in on high-dollar predictive analytic and scoring engagements, big data represents many things to many people, but one of the most pragmatic applications is mastering all the data elements used in a business infrastructure. The term commonly used for this process is master data management.
MDM continues to gain rapid market adoption, as it comprises a set of processes and tools that consistently define and manages the non-transactional data entities of an organization. According to Bloor Research's annual "Master Data Management Market Update," the market through 2012 and early 2013 showed considerably more growth than the previous year. Andy Hayler, author of the report, suggests that MDM is getting increased traction among customers and is moving from a niche area into the mainstream.
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