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Master Data Management Market Has Become an Important Tool for Big Data: Research

  • Date Submitted: 01/14/2016 12:37 AM
  • Flesch-Kincaid Score: 23.8 
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Master data refers to central data that is essential for operations in a specific business or business unit. For any business, master data is the consolidated, synchronized information about customers, suppliers, distributors, and other entities associated with the organization. Master data management (MDM) comprises a comprehensive method that enables an enterprise to link all its critical data to a ‘master file’ for a common point of reference. It takes into consideration standards, policies, governance, processes, and tools that account for managing the organizational structure and consolidates the critical data to be available at a single point of reference.

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For such attributes, global master data management market has become an important tool to integrate data for big data, business intelligence (BI), and analytics solutions.With the increasing volume of business information, there is a surging need for a central data management system. Critical business data need to be properly verified and compliant with organizational statutes. Furthermore, high volume of information flow demands operational excellence. These factors collectively account for the rising adoption of master data management systems.Additionally, changing business processes such as consistent reporting and development of technologies such as Service-Oriented Architecture (SOA) and Software as a Service (SaaS) needs a central reference for data, which has stimulated the master data management market.

Data Governance to Integrate with Master Data Management Systems

Master data management (MDM) products are either designed for product information management (PIM), customer data integration (CDI), or for multiple data domains. By deployment, MDM solutions are distinguished as on-premise or cloud solutions.Cloud-based MDM is an emerging...


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