As more companies deploy master data management solutions, there has been an increasing demand for even more value-added capabilities from master data. One of the most significant is the demand for MDM solutions to manage relationships between parties including individuals, individuals and households, individuals and corporate entities, informal groups and organizations. Understanding relationships between parties and products as well as product hierarchies is critical for enterprises. It is quite common that MDM begins with one or a few master entities and then evolves a) to include a broader set of entities and b) to increasingly focus on relationships.
Businesses are looking for ways to understand family and partnership relationships to correctly determine who their best customers are, how to estimate the risk-adjusted values of customer relationships, and what the organization should offer to attract new customers and retain their best existing customers. Government agencies want to gain a deeper understanding of relationships between suspects and criminal organizations to prevent terrorist threats, money laundering and other criminal activities or unwanted events.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access