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Understanding master data managementProduct Type: Market Research ReportPublished by: Ovum Plc Published: May 2006 Product Code: R464-340 Description Master data management (MDM) is not a new concept - the problem of managing master data has been with us since the beginning of computerised business automation. The topic is currently experiencing a major resurgence in interest because of a renewed desire to exploit data for better business effect, and because MDM is inextricably linked to the current interest in and the drive towards service-oriented architectures (SOAs). With this renewed attention and corresponding hype there is also an equal dose of confusion and misunderstanding surrounding the basic principles of MDM. Most of this confusion stems from inconsistent definitions and conflicting messages from vendors - each vying for that illusive market and mindshare - about what master data actually is, how it should be managed and what technologies should be employed to solve the master data problem. This report details the basic principles involved in managing master data. It provides a comprehensive definition of master data, details how master data should be managed, and defines the functional scope and main components of a MDM solution. It also discusses the architectural approaches that need to be considered as part of an MDM implementation. Table of Contents Key messagesWhat is master data management? Definition Scope of this report The MDM problem The broken promise of packaged business applications Increasing heterogeneity = disparate and siloed master data Data proliferation = lost business opportunities Why is master data such a problem? The MDM promise Managing master data Master data information domains Master data characteristics Technical architectures for MDM Master data record Three approaches to MDM Centralised MDM Virtual MDM Reference application MDM MDM and SOA SOA: from BPM to MDM The split personalities of MDM Application versus data integration Packaged versus DIY approach From data to applications Beware of silos between solutions Operational versus analytical data Structured versus unstructured data |
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