February 4, 2010 – Master data management has moved beyond the pilot stage, according to an international market survey by The Information Difference Company and by Baseline Consulting, a provider of information design and deployment for business performance.
The survey, Master Data Management Projects in Practice, found one-third of enterprise organizations worldwide have undertaken more than two MDM implementations.
Other findings show that data quality is a key component of MDM implementation, and the time and effort (cost) required to achieve data of acceptable quality is frequently underestimated. The median reported was 30 percent of the overall initial project costs. Both those already implementing (80 percent) and those planning to implement recognize the pivotal importance of establishing data governance.
“The findings of this report mirror our own client experiences, namely that there is an uplift in MDM adoption and an acceleration in delivery timeframes,” says Jill Dyche, partner and co-founder of Baseline Consulting. "The fact that data quality, data governance, and data enrichment processes may accompany an MDM initiative make it all the more attractive as an enterprise solution."
This survey suggests that companies are becoming increasingly savvy about the MDM value proposition, which nforms a more deliberate approach to MDM development, including requirements gathering, business case development and vendor selection." According to Dyché, 2010 will be the year of implementation for serious data integration initiatives.
Read Jill Dyché’s recent blog entry about the MDM market here.
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