Master data management (MDM) has come a long way in the past decade or so. When I was supporting my company’s customer master implementation back in 2001, my management was thrilled to simply have a customer master that brought a bit of order to the chaos sharing customer data between our CRM and ERP applications and downstream into our marketing data warehouse.
Fast forward to 2014 and mastering customer data alone is often table stakes for leadership trying to transform their business from a product- or account-centric to a customer-centric organizations.
Here at Informatica, we’ve seen over 75% of our MDM customers in the past year purchase for multidomain use cases – meaning the scope of their initiative often spans mastering data such as Customers, Suppliers and Products as part of a coordinated effort. These organizations have built compelling business cases to demonstrate that mastering multiple domains – and the relationships among those domains – is necessary. Only a true 360 degree view of relationships among any data can provide the necessary insights to deliver on the desired operational efficiencies, optimized customer experiences, and growth objectives for their companies.
The progress we’ve all made in multidomain MDM is impressive, but it’s just scratching the surface of what’s possible. What happens when MDM meets Cloud, Social, the Internet of Things and other master data enrichment sources such as D&B and Acxiom? Dennis Moore, Informatica’s GM and SVP for MDM, envisions that a new “Internet of Master Data” will be formed that can include a massive new set of sensor and social data which it leverages to infer and recommend a new class of relationship insights. For example, in addition to sentiment and relationships from social networks, location data from mobile devices and sensors can now inform customer – and product – behaviors that span beyond direct transactions and interactions within your traditional business applications.
Those of you who have invested in building a foundation of clean, consistent and connected data have a huge advantage as the value of MDM grows exponentially with the exponential growth of data. You are well-positioned to take advantage of the deeper insights and potential innovations now possible by adding Cloud, Social, and Machine data to optimizing analytics and operations.
This week at Informatica World 2014 in Las Vegas, we kicked off with our fantastic MDM Day pre-conference event with over 500 attendees. During the event, we shared some early insights into our MDM 10 release planned for later this year which integrates the Informatica Vibe engine and incorporates other elements of the just unveiled Informatica Intelligent Data Platform vision to make it easier for customers to gain a 360 degree view of their most critical business entities, including customers, suppliers, products and assets.
We continue to be inspired by our awesome MDM customers and partners, and we’re excited to see what they can do to harness the power of the Internet of Master Data!
I’m excited to share that, since its launch in January 2013, the GovernYourData.com community has been very well received. With over 4,700 unique visitors and nearing 600 registered members, many data management practitioners recognize it as a valuable go-to resource to support their data governance efforts. While maintaining our core objective of vendor- and product-neutrality, the site offers over 100 best practice blog posts from over 17 different contributors, shares the details on a dozen upcoming industry events, and has links to a wide variety of white papers, analyst research, recommended books, and other educational resources. (more…)
I’m glad to hear you feel comfortable explaining data to your friends, and I completely understand why you’ll avoid discussing metadata with them. You’re in great company – most business leaders also avoid discussing metadata at all costs! You mentioned during our last call that you keep reading articles in the New York Times about this thing called “Big Data” so as promised I’ll try to explain it as best I can. (more…)
We’ve posted three compelling new articles to the Potential at Work for Information Leaders site, including:
- “Will the real Chief Data Officer please stand up?” Some question the need for a new C-level position, arguing that a company’s chief information officer should be the one to oversee an organization’s data. Others argue the CIO is stretched too thin already and a new type of leader must emerge. Where do you stand?
- “Introducing a ‘define once, govern everywhere’ data management style” The sanity afforded by defining data standards only once and applying them anywhere will create time to investigate innovative uses for that data. Information leaders will be much more successful if they spend less time managing projects to recode the same rules across every new application, and instead work with business partners to identify new information opportunities.
- “Rise of the machines: the Internet of Things” Are devices that track our every move poised to unlock new potential in humankind or are they just downright invasive? While privacy remains a critical consideration, this article illustrates the global potential if we can effectively leverage big data to harness the emerging Internet of Things.
For these articles and many more, check out the Potential at Work for Information Leaders community today. Available in nine languages, this site will continue to feature fresh, new ideas to promote the value of information management from a variety of top technology leaders.
If you haven’t already, check out the Potential at Work for Information Leaders site. We’ve just posted three great new articles designed to help you be more successful:
- “Driving value without locking down your data” Securing your data doesn’t mean inhibiting its use – far from it. Did you know that effective data masking practices allow information leaders to optimize the value data delivers to the organization while ensuring its security? Some forward-thinking information leaders are doing this and getting great results.
- “How fresh is your data?” Simply delivering data is not good enough anymore. You must get it to the right people at the right time while it is still fresh enough to be useful. Find out how to do it right.
- “Turn an application data migration initiative into a data governance pilot” A data migration effort can accomplish so much more than simply transferring data. Think about using it as an opportunity to improve the quality of existing data and apply new, higher standards to the information powering your organization.
Don’t miss out on topics that are key to your success. Please join the Potential at Work for Information Leaders community today. Available in nine languages, this site will continue to feature fresh, new ideas to promote the value of information management from a variety of top technology leaders.Sign up now!
During Informatica World in early June, we were excited to announce our new Potential at Work Community. You can read Jakki Geiger’s blog introducing the Community to learn more about the goals for this great resource. (more…)
Science fiction represents some of the most impactful stories I’ve read throughout my life. By impactful, I mean the ideas have stuck with me 30 years since I last read them. I recently recalled two of these stories and realized they represent two very different paths for Big Data. One path, quite literally, was towards enlightenment. Let’s just say the other path went in a different direction. The amazing thing is that both of these stories were written between 50-60 years ago. (more…)
I’ve been in the data management industry for over 20 years, and you’ve always been very supportive of my career – even though you admit you have no clue what it is I do for a living. So here’s my best shot at explaining what I do so you can more accurately brag about me to your friends! J
Following up on the discussion I started on GovernYourData.com (thanks to all who provided great feedback), here’s my full proposal on this topic:
We all know about the “Garbage In/Garbage Out” reality that data quality and data governance practitioners have been fighting against for decades. If you don’t trust data when it’s initially captured, how can you trust it when it’s time to consume or analyze it? But I’m also looking at the tougher problem of data degradation. The data comes into your environment just fine, but any number of actions, events – or inactions – turns that “good” data “bad”.
So far I’ve been able to hypothesize eight root causes of data degradation. I’d really love your feedback on both the validity and completeness of these categories. I’ve used similar examples across a number of these to simplify. (more…)