Master Data Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023

Master data is the consolidated, synchronized enterprise-wide business data sheet that has information about customers, products suppliers pertaining to the organization. Master data management (MDM) comprises the standards, processes, policies, tools and governance that consistently manages structures and collates the critical data of an organization to provide a single point of reference. Master data management has become one of the important sources for integrating data for Business Intelligence (BI), Big Data, and analytics solutions.

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The master data management is segmented based on their application as customer data, supplier data, and product data and other data (asset, sales, employees, etc.). The master Data Management market is also classified based on user type as SMBs (Small and Medium Business), and large enterprises. Moreover, the master data management market is segmented by geography as North America, Latin America, Asia Pacific, Middle-East and Africa and Europe. The master data management techniques have its existence since last 10 years and are currently matured and currently the software industry is witnessing a clear divide between MDM solutions offered as part of a broader platform, and specialist vendors. However vendors such as IBM Corporation, Teradata Corporation, Informatica Corporation, Oracle Corporation, SAP AG and SAS Institute, Inc. emphasize the importance of MDM as part of a broader solution. In addition to the master data, the MDM system maintains data hierarchies such as bill of materials for products, organization structure for customers.. Processes commonly observed in master data management solutions include source identification, data collection, data transformation, normalization error detection and correction, data classification, data consolidation, data storage, data distribution, item...