3 Ways MDM Must Keep Up with the Data Revolution
A new year has arrived with many predictions relating to business data. Sounds a lot like last year, eh? The difference in 2014 is that some companies have begun to make real progress in tackling the huge shifts in IT and data management. This year, I believe that MDM will evolve in three key ways to handle the ever-increasing mobility, volume, and sources of data.
1. Move to the Cloud: We’ve seen this transition before. CRM has gone from 100% on-premise software to 40% Cloud in just 12 years. ERP is coming along at 12% Cloud with Gartner predicting a jump to 17% by 2017. I expect that MDM will follow this path with aggressive Cloud MDM growth in 2014, doubling from 5% to 10% market share.
2. Business-based Decisions: Like CRM and ERP, the coming increase in Cloud MDM will lead to a shift in decision-making from IT to business users. As a result, business users will begin to educate themselves on the importance of MDM for achieving high-quality data. As a Gartner research analyst noted, “The increased demand for effective decision-making and improving the timeliness and accuracy of business decisions make MDM paramount for organizations.” At the same time, MDM providers will need to address business users by highlighting solutions and benefits, instead of focusing solely on technology.
3. Data Fragmentation: Another result of the evolution to cloud-based solutions is that organizations no longer rely on single vendors like SAP or Oracle for multiple apps. Instead they are choosing diverse best-of-breed apps to suit each business function. This change, along with the rise of mobile, M2M, and the Internet of Things will further increase the disparity of sources and the complexity of integrating data into a single, accurate picture. Meanwhile, these very same technologies (mobile, M2M, etc.) serve to increase the advantages of multidomain MDM and the need for a timely, authoritative view of business-critical data.
There is no doubt that data will be a big topic again this year. Do you agree with my forecast of cloud MDM and its impact on how businesses will procure and use MDM?