In today’s complex business environment, data grows and changes at a rapid pace. Making the best use of data both within the enterprise and externally is essential to corporate success. The challenge is locating, analyzing and categorizing this information to make the most informed business decisions.
In many enterprises, data is splintered, with each department managing its own information, often unaware of how it affects the rest of the organization. Most have turned to technology to help solve the problem, implementing several disparate systems that contain similar information but do not interact with each other. As such, duplicate data may be processed in different systems, creating replicas, stale work and different data structures.
During the past several months, there has been more talk aboutmaster data management being a key answer to the siloed data challenge. Enterprises are looking to MDM to gain a better view of business entities and to ensuredata quality efforts are consistent.