Product Master Data Management: The Database Technologies of the Future and the Present
The widespread rollout of technological advancements in SMB’S and other large enterprises are significantly transforming the workflow patterns and operational areas for organizations worldwide. This proliferation has constantly led to the generation of voluminous amount of big chunky data diversely scattered all across different locations in the organizations. With the undisputed realization that information forms the core valuable asset to any organization which may be product centered or regardless of any niche but keeps and assumes data as its core asset, the need to have this data structured and consolidated as led to the advent of product master data management or simply MDM. This presentation is brought to you by EnterWorks.com
The product master data records creates a single, authoritative view of businesscritical data from disparate, duplicate, and conflicting information and lets you see, for instance, that Tom Barnes and Tommy Barnes are the same person. It enables you in integrating the transactions and social interactions that have occurred with that product, customer, channel partner, or other data element, giving you a complete view of that customer. This presentation is brought to you by EnterWorks.com
The Market Research: “The global master data management and product MDM market which comprises software and services is expected to grow from $9,440.4 million in 2015 to $26,799.6 million by 2020, at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period from 2015 to 2020. “ By 2020, the master data management offerings are expansively going to redefine it to become a trending market through the incorporation of Business Intelligence (BI) and Big Data within these master data management solutions according to Globenewswire. The study is done to understand the structure of the master data management ecosystem and is intended to help the solution vendors, platform providers, and cloud-based sellers to better serve their clients which include SMBs and large enterprises. See Also: Three trends that will shape master data management market
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The Overall Master Data Management Market Size Has Been Further Segmented Into Industry Verticals Which Include:
•BFSI •Government •Retail •IT And Telecom •Manufacturing •Energy And Utilities •Healthcare, Transportation And Logistics •Media and Entertainment, and others which include education; defense and aerospace, and travel and hospitality; across various regions, namely North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
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Why Multi-Domain Product Master Data Management Matters?
One of the most salient wins for multi-domain MDM platforms is in Data Governance. Moreover, with multi-domain MDM solutions, it is much easier to ensure that standards are being met since there is only one repository for the Master Data. Well, there are slew of multi-domain MDM platforms available, each of which pursues their own strengths and weaknesses. Following is a checklist that illustrates several valuable features of this technology. This presentation is brought to you by EnterWorks.com
Multi -Domain Must-Haves:
•Governance Support • Lineage • Modeling • Data Quality • Loading • Integration With both issues of governance and the relevance of Big Data operating as drivers, the trend towards multi-domain MDMs will only increase.
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This presentation is brought to you by EnterWorks.com