The industry’s first cloud-based solution for master data management (MDM) has arrived, signaling the emergence of a new architectural model for MDM that can offer rapid time to deployment without substantial capital expenditures.
Cognizant, a leading provider of IT and consulting services, is rolling out a solution called Cognizant MDM-in-the-Cloud for Life Sciences. Built using Informatica MDM at the core technology, it’s designed to help pharmaceutical and medical device companies to realize a complete, accurate view of monetary gifts and in-kind transfers made to physicians, including gifts, entertainment, consulting fees, meals, research funding, and more.
That data is typically stored in various formats across disparate multidomain sources with limited visibility. The new Physicians Payments Sunshine Act requires life sciences companies to report physician payments to the U.S. government beginning in March 2013. Cognizant’s cloud-based MDM solution emphasizes simplicity, rapid deployment, and a flexible pay-per-use pricing model, as Cognizant’s Dileep Srinivasan explains in this Informatica video.
From this debut of MDM in the cloud, look for future industry-specific solutions and generic MDM in software-as-a-service (SaaS) models to emerge from Informatica and its partners. As with business intelligence, data quality and integration, business management, and more, cloud-based MDM offers organizations swift time to value through prebuilt templates and business rules that can reduce deployment time by as much as 70 percent. Organizations can avoid the hardware and software capital expenditures required with on-premise solutions, budgeting cloud applications as an operational expense.
Also look for the emergence of hybrid MDM that combines both on-premise and SaaS models, offering training and testing opportunities, and scalability to meet peak demands:
- Training and testing: With MDM in the cloud, organizations can provide a training and testing environment that allows end-users to learn the system, and enables remote developers to perform parallel development.
- Scalability for peak demands: A retailer, for instance, could leverage cloud-based MDM to offload high processing workloads from on-premise systems during the peak holiday season, without adding infrastructure that would be needed just a few months a year.
One of the greatest advantages of multidomain Informatica MDM is the flexibility that it provides organizations in deploying MDM on-premise, on the cloud, or as a hybrid. I call this flexibility as “multi-deployment”. As cloud-based deployment pattern begins to emerge, it’s critical for MDM to support multi-deployment.
Watch this space for more posts on Informatica’s cloud-based MDM strategy and details on Cognizant’s solution. As always, we welcome your feedback in the Comments section below!