Master Data Management to manage data explosion
Submitted by Emy Carr on 22nd November, 2011
With companies using more online technology, whether for promotion or conducting business operations, more data is now being transferred and stored online. Vodafone recognised this, and recently stated that businesses will soon have to cope with the explosion of real-time data1.
I believe there is merit in that statement. As more people communicate online, it is possible that data will evolve every second. And maintaining a single view in such a scenario will be challenging. But luckily, we live in a world where Master Data Management exists.
Some of us have caught on, but many still haven’t. I believe C-level executives should take action and put MDM on the map if they’re not already on the MDM bandwagon.
Companies should prepare to engage an MDM provider now so that they get the opportunity to review the options out there, and not be overwhelmed with high costs of implementation and planning.
When it comes down to it, the world is evolving and fast. So people in the service industry need to up-skill and they need to do it now, to keep up with the rest of the market.
What do you think? Is MDM the solution to data explosion?
- 1. Vodafone. 2011. Master Data Management and the mobile enterprise.