by Angela Guess
David Baum has written an article for Oracle regarding the importance of Master Data Management. He writes, "Modern business applications produce ever more relevant and actionable information for decision makers, but in many cases the data sources are fragmented and inconsistent. Despite tremendous advancements at the application layer, nearly all IT initiatives succeed or fail based on the quality and consistency of the underlying data. Why this glaring oversight? According to Mark A. Smith, CEO and Chief Research Officer at Ventana Research, CIOs are responsible for making information available to their businesses in a consistent and timely basis, but in most organizations, information management is seen as a delegated set of tasks and is not the CIO’s top priority."
Baum goes on, "While CIOs are aware that effective information management results in faster decision-making, according to the Ventana study, only 43% of organizations have undertaken information management initiatives in data governance, data integration, data quality, master data management and data virtualization during the last two years, and less than one fifth have completed those projects. The largest obstacles to completing information management projects are insufficient staffing (68%), inadequate budget (63%) and insufficient training and skills (59%)."
photo credit: notfrancois