The problem with master data management (MDM) is that it is so
big. In order to gain some control within a company certain
organizational skills must be utilized. That seems simple enough
but as the article, The 5 Pillars of Master Data Management, on
TechNewsWorld, explains it isn't being done nearly enough. The
article suggests some rudimentary steps any organization should
implement to begin fixing MDM problems.
Yes, everyone can agree that MDM is a big problem, especially when
it's not done right, but we'd surmise that an institution suffering
from poor master data management suffers from poor data management
across the board. As the author summarizes his advice,
"A single trusted view of information provides the clear insight
and transparency that organizations need to have effective business
processes and interactions with customers and partners.
Particularly at a time when social media and new information
platforms are becoming pervasive, organizations now have access to
new resources offering rich customer insights. However, businesses
and governments must recognize that governance has to be part of
this information gold rush."
We couldn't have said it better. With massive amounts of new data
emerging in large part from social media and mobile technology
companies must address systems quickly extinct with urgency. New
data management solutions must be rolled out from master data
management all the way to applications and software. In this world
of data which is constantly evolving staying ahead of the
eight-ball is the only way to survive.