by Angela Guess
A recent article states, “As the master data management (MDM) market grows and matures, new trends will help shape its evolution, according to Gartner Inc.” The article goes on, “IT and business leaders involved in MDM programs need to understand trends involving multi-domain MDM, MDM in the cloud, and MDM and social networking, so they can keep their strategies up to date. ‘These three key trends are generating increasing interest within the MDM market and will have a significant impact on it over the next few years,’ said John Radcliffe, research vice president at Gartner.”
The first trend is a growing demand for multi-domain MDM software: “By 2014, 66 percent of Fortune 1000 organizations will have deployed two or more MDM solutions to support their enterprise MDM strategies. Historically, most MDM initiatives have been oriented around a single master data domain. However, many organizations are now striving for a broader vision of how to achieve multi-domain capabilities over time.”
The second trend will be the rising adoption of MDM in the cloud: “By 2015, 10 percent of packaged MDM implementations will be delivered as SaaS in the public cloud. Currently, MDM is typically implemented in on-premises solutions. Many industries, such as financial services, are reluctant to place such important, heavily shared information as master data outside the firewall. Equally, there is resistance to the idea that the governance of one’s primary information assets can be left to an outsider. Privacy issues have also dampened adoption of software as a service (SaaS) in some regions, such as Europe. However, on-premises MDM solutions are increasingly being integrated with SaaS applications, and there are various cloud-sourced data services (such as data quality or data integration as a service) that can help with MDM implementations.”
The third trend will be increasing links between MDM and social networks: “By 2015, 15 percent of organizations will have added social media data about their customers to the customer master data attributes they manage in their MDM systems… Much social media analysis will be at the aggregate trend level. This analysis could prove very useful for understanding what the market thinks about a company, its products and its services. But if a company could identify the individual person who is ‘tweeting’ and what product or service they are referring to, that information would also be valuable, as they could act on their comments to protect their brand or provide a customized experience and product offering to that person.”
photo credit: psd
