With today's economy, CIOs who have taken on the enormous task of enterprise master data management (MDM) are choosing to focus their initial efforts on business intelligence (BI) projects. Also reported in this Search CIO article is that implementing an MDM system for BI is not just less difficult than tackling operational systems.
"The term 'master data management' typically refers to the processes, tools and technology needed to form and maintain accurate and consistent lists of an organization's critical business information. The business benefits of having a so-called 'single version of the truth' are obvious. The screwups resulting from a lack of enterprise MDM are legion: the software company that tries to sell its newly acquired product line to a customer that owns it already; the bank that tries to sell a mortgage to a customer who already has one.
"The holy grail of an enterprise MDM system is an application-agnostic central hub that feeds master data across the enterprise. ERP and other systems still manage the type of master data they need to run their business processes, but the key element -- supply data, product data, and so forth -- comes in an integrated fashion from the central hub."