The Evolution of Master Data Demand Management
Master data and master data management (MDM) solutions increasingly are relevant to more organizations. No one best approach exists to address MDM requirements, as they tend to evolve over time in response to changing business needs and differing organizational characteristics. But how can organizations optimize their MDM approach and get the most from their data? Find out in this latest report from Dresner Advisory Services.
- Although 84% of organizations report high perceptions of MDM, 61% of respondents indicate no planned use or only possible use of an MDM solution.
- A strong majority of organizations (71%) reports increases in MDM applications, systems, and/or services.
- Organizations expect the number of data domains being mastered to increase substantially in 2023.
- Traditional MDM solutions continue to strongly resemble those available when the technology debuted in the 1990s. Innovations—such as cloud capable, cloud native, ML, and AI—have not fundamentally altered solution constructs. Imperatives of master data and MDM outside Global 2000 organizations further drives evolving market requirements.
- Relatively high barriers to entry—including cost and complexity of traditional MDM solutions—have concentrated market share in large and very large organizations.
- MDM technology will not achieve widespread penetration without addressing new technologies and satisfying additional new market requirements.
- Organizations increasingly want to address master data and MDM requirements via means other than traditional MDM solutions.
- A majority of organizations (60%) report using an MDM solution as an embedded capability in an application or service, or as a component within a broader application.
You can read and download the full report, “The Evolution of Demand for Master Data Management” here.
Read Previous Reports
- Part One: The State of BI, Data, and Analytics in Financial Services in 2022
- Part Two: Making Data Easier to Find, Access, and Use Should Start With a Data Catalog
- Part Three: Time to Take Ownership and Align Spreadsheets With Your Data Strategies and Programs
- Part Four: Cloud BI: Think Big, Think Small, Act Rationally