by Angela Guess
A new article on the potential of master data management to grow your business notes, “The MDM market is booming: it reached $1.5 billion last year in value, up 14% from the previous year, and will surge to $3 billion by 2014, according to research house Gartner.” Gartner’s definition of MDM is as follows: “It is a technology-enabled business discipline in which business and IT organisations work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the organisation’s official, shared master data assets.”
The article continues, “MDM is more than just another attempt to plug the quality and consistency view at the heart of every organisation of substance. It is an elegant, lifelong journey which results in reduced costs and enhanced revenue, today, tomorrow and for good.”
The article makes the following observations regarding MDM: “(1) MDM has enjoyed double-digit growth, even at the height of the global recession. (2) Emerging MDM domains (supplier, human resource, asset and location) show more rapid growth from a smaller base. (3) MDM growth is being driven by niche providers, along with established players. (4) Growth in the MDM market provides a major business opportunity for software and service providers that specialise in these areas, and it will continue to attract new entrants. (5) Growth is removing skilled MDM resources from the market. End-user organisations will struggle to resource their MDM programmes. (6) Organisations must weigh the advantages of best-of-breed MDM software vendors (functionality, data domain and vertical-industry expertise) relative to long-term viability risk. (7) By 2015, 10% of packaged MDM implementations will be delivered as software as a service (SaaS) in the public cloud.”
photo credit: Hairy.Jacques
