Supercharge Your Big Data Investment at Informatica World 2016
A confluence of emerging trends in cloud, mobile, social media, and IoT is affecting the role of data in business today. These trends are changing the fundamental ways companies do business. In the new big data world, better data management has become more important than ever, and the ultimate success of the organization rests on turning big data into big value.
A recent survey of executives involved in big data initiatives underscores the transition from hype to reality. After initial troubles, companies are making progress in extracting business value from big data. From my conversations with both IT and business leaders, I see a shift in focus from hype to value. This change was eminent. From a separate experimental effort, big data projects must embrace a fully integrated approach where they become part of enterprise information and analytics strategy. This is where Master Data Management (MDM) plays a critical role.
I’ve heard great examples, like EMC, where MDM has fueled quality data to help make sense of big data. MDM is a proven discipline that enables companies to get a grip on business-critical data about customers, products, suppliers, and more. It breaks down traditional organizational boundaries, consolidates fragmented data, and allows you to feed reliable information to big data analytics initiatives, including Data Lakes.
In contrast, big data is recognized by volume, velocity, and variety. It offers enormous potential by adding new dimensions to master data. When you look closely, most of the today’s big data types fall outside the scope of master data management solutions that organizations have currently deployed. This is most frequently the case for data associated with following categories:
- Transaction Data – Including CRM, supply chain, billing, order management, and omnichannel interfaces.
- Interaction Data – Including call and weblogs, clickstream data, mobile, social, and geolocation data
- IoT Data – Data generated from devices, sensors, telematics, machines, and wearable devices
As discussed in my recent ComputerWorld article, the important and critical aspect of the IoT phenomenon is master data. It is at the heart of this information revolution, providing the required context that makes big data meaningful and useful.
Using traditional data management approaches that are manual and complex makes it difficult to cope with big data’s volume and velocity. In a recent survey by IDG Research (Commissioned by Informatica and Deloitte), 77 percent of the respondents are either looking to invest in data management and architecture solutions for the first time or want to replace an existing solution that does not scale to meet business needs. From my interactions with customers I work with, it is now apparent that they are looking for vendors that not only provide a solution to address their immediate master data management needs, but also future-proof their investment by offering mastering capabilities for the big data world.
Fortunately, big data and MDM are more intertwined now than just a few years ago. By combining these two, organizations can glean insights that were never possible before. MDM is acting as an essential discipline that provides much-needed context for big data. Whether the goal is customer experience innovation, streamlining mergers and acquisitions, or performing big data analytics, organizations are combining these two capabilities meaningfully to drive value straight to their business goals.
Informatica World 2016: Combine big data and MDM to discover new insights
Join me for following session at Informatica World 2016, where I’ll discuss different ways you can supercharge your business by combining MDM and big data. The sessions are designed to help you:
- Understand how MDM and big data can be combined to discover new insights
- Discover the characteristics of a modern master data management strategy
- Learn how forward-looking companies use MDM and big data together successfully
- Prepare for the one-of-a-kind transition we see in the industry
Regardless of where you are in your MDM and big data journey, this is your opportunity to learn more about your next steps. Come and be part of this exciting gathering of data management professionals. Tweet me at @MDMGeek to keep the conversation going and join me at Informatica World 2016.