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future master data building

Blog September 14, 2016

The Future Directions of Master Data Management Solutions

When organizations build one master data reference source to their business critical data, that is called master data management (MDM). Since this data is in the core of companies’ business, master data management has an important role in companies’ information management entirety. As the whole Business Intelligence market, also master data management solutions have developed constantly and this trend will continue in the future. Simultaneously the requirements for these solutions increase. What should be taken into account when thinking the future directions of master data management?

Extensive system

Traditionally master data have consisted of two different types of data: product data and customer data. These two data types differ from each other which has led to a situation where these data types have been handled in two separate systems. In the future there still can be different systems for different types of master data, but it is important that these two data types can be combined and there is a real interaction between them. When the basics of the master data management is organized, typically organizations start to expand the solution and this sets new requirements for MDM solutions.  

Increased integration requirements

Consolidation has been a hot topic for several years. Nevertheless, it seems the number of different information management systems increase and these systems need to be integrated smoothly. Traditionally MDM solutions have integrated with point-to-point style to source system. Nowadays the requirement for the integration is more service based real interaction between the systems. 

Graph-databases

Graph-databases won’t replace all traditional relational databases, but instead they will improve the understanding of the complex relationships of data sources. Graph-databases enable also efficient usage of real-time master data.

Big Data

Garter’s research director said a year ago that when the amount of data increases, the more important the management of master data is. Big Data technologies have brought new opportunities for handling large amount of data. When the amount of data increases, master data management needs to be well organized to make the data more accessible and related to relevant context. 

Cloud

Like the other information management solutions, also MDM solutions are becoming cloud based. This means that the purchase of the solution becomes easier. Before MDM solutions have been heavy to maintain which now becomes lighter due to cloud. The new, cloud based solutions are more flexible, easier to scale and become available for also smaller organizations.

Janne Viinamäki, Consulting Manager at Enfo