Big Data is the confluence of three major technology trends hitting the industry right now: Big Transaction Data (describing the enormous growing volumes of transactional data within the enterprise), Big Interaction Data (describing new types of data such as Social Media data that are impacting the enterprise), and Big Data Processing (describing new ways of processing data such as Hadoop). If you can imagine companies having problems with business-critical master data such as customers, products, accounts, and locations at current data volumes, now that problem is compounded many-fold with the growth into Big Data. That’s where MDM and Data Quality come in as the fundamental solutions. So, why is MDM and Data Quality such a big deal for Big Data?
First, Big Transaction Data compounds and amplifies current master data issues. We know that poor master data quality dampens results from key business initiatives because it requires manual intervention to correct data quality, delays deadlines due to manual reconciliation, and contributes to poor decisions due to incorrect analysis. With the growth in data volumes, different business people in sales, marketing, customer service, and product teams, will increase the master data duplications, inconsistencies, and incompleteness within different applications.
MDM with Data Quality is a required technology to improve operations with business-user access to authoritative and trusted business-critical data as well as the relationships between data. As the ramp up to Big Transaction Data unfolds, best-in-class organizations that have deployed MDM and Data Quality will be ready to take it on providing competitive differentiation against laggards who have not deployed these data management technologies. For more details, read this whitepaper to learn the right MDM strategies to start small and expand across the enterprise.
Second, as companies are jumping on the social media bandwagon, many are struggling to isolate the voice of the customer among the 50 million tweets or 60 million Facebook updates per day. With a single view of customer using MDM and Data Quality, companies can isolate the customer speak from the noise, understand the influence network of the customer, and gain insight into customers’ sentiments towards their company and products. For more details, read my earlier blog on Harnessing Social Media, watch this YouTube video, or download this social media brief.
On June 6th Informatica will explain and demonstrate how you can harness Big Data using Informatica technologies including MDM and Data Quality. Click here to register now.