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#IMChat on MDM

Let’s Chat About MDM

On April 2, 2013 industry experts, advisors and visionaries convened on twitter to discuss master data management during the inaugural bi-weekly #IMChat.  MDM is an essential element of enterprise information management strategy. It is robust, with lots of room for opportunity.

Julie Langenkamp (@JulieLangenkamp), the Editor in Chief of Information Management, moderated the chat with a panel including MDM expert Aaron Zornes (@AZornes), Chief Research Officer of The MDM Institute. 


So what was said?  From hundreds of tweets, here’s a summary of the discussion.

Why do companies embark on MDM? Is the catalyst a business problem? A data problem?

MDM solves a bus pbm, which was created due to data pbm

@Ravi_Shankar_

"single view of x" is *very* compelling business driver 2turnarnd customer service , sales/mktg & compliance 4 *any* company #MDM

@azornes

Data must conform to how information is used by the business. Metadata is more about biz purposes/problems than tech/IT.

@DnBUS

4 business drivers overview, can also view recent conference keynotes (80K+ downloads) #MDM & #DataGovernance Summit http://t.co/BayX6yUHVX

@azornes

In one case, I've heard the actual motivation stemming from making decisions on faulty data

@WhitneyAEden

#MDM is major step in longer term transformation of leading enterprises 2 move from silo-driven business/IT culture 2 become “ON –Group” 

@azornes

Many enterprises use #MDM as foundational tech 2drive business transformation of supply chains, customer svc, brick-to-click, etc. 

@azornes

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How can MDM, as part of an information management strategy, play a role as strategic driver for the turnaround company?

#MDM provides the quality of data that your business process require to reduce exceptions.

@rprowe

While many companies are kicking #MDM tires, several are already in their 2nd or 3rd gen #MDM. MDM has crossed the chasm!

@Ravi_Shankar_

How about Data Virtualization as a means for implementing #MDM and Data Governance? Seems like a promising approach, no?

@mobiusmedia

Bringing the data into 1 hub, reconciling differences into a unified view, ensures everyone is reading from same playbook.

@DnBUS

MDM can lead to ops & productivity improvements, BI & analytics reliability, customer insights. Improves data quality.

@DnBUS

Planning for data governance can improve #MDM success

@FayeMerrideth

As an analyst firm, very common INQ we get is "how do we use #MDM to integrate disparate ERPs, CRMs, cloud-with-on-premise" etc.

@azornes

Companies that have used #MDM have done better than their competitors. There's lot of data on that.

@Ravi_Shankar_

#MDM also provides "economies of scale" for M&A ( *and* actually enable it) for M&A

@azornes

So to sum up, widespread benefits: competitive advantage, integrating disparate applications & data, complement to data gov.

@JulieLangenkamp

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What are the new trends in MDM?

My team is starting to get INQs about Cassandra, graph DB, etc. as seasoned #MDM IT groups plan for next-gen deployment/architectures

@azornes

Effective MDM requires effective business collaboration, does your business understand the data?

@darrenpeirce

#MDM & mobile: MDM is only useful if bus users adopt it. Make it available thru mobile devices and w/i bus apps.

@Ravi_Shankar_

MDM solutions need to incorporate business processes, empowering employees to act on data. #BPM

@DnBUS

#MDM & social: 1st step to int social data is fig out if the person in social media is same as cust in CRM. MDM reconciles that.

@Ravi_Shankar_

#Social networking (important for customer mgmt & engagement)--how does it impact #MDM?

@DnBUS

MDM will become even more pervasive & pandemic as enterprise app vendors roll out nxt gen apps w/ underlying #MDM foundation

@azornes

Execs, bus mgrs, IT need to formulate and agree on data governance if #MDM is to succeed.

@FayeMerrideth

Mega trends (cloud, mobile & social media) play key role enhancing business value as enterprises meet reality of Big Data analytics #MDM

@azornes

#MDM is adopting megatrends in cloud, social, mobile.

@Ravi_Shankar_

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What’s the impact of big data on MDM?

Unfortunately (fortunately?), #MDM & #BigData are co-dependent

@azornes

Big data requires more (new/different) governance

@JulieLangenkamp

#BigData is another source of data for MDM. One application, is it offers opportunities to respond to customer sentiment.

@rprowe

#MDM supports #bigdata by reconciling identities across vast data sets by distributing matching across multiple #hadoop notes

@Ravi_Shankar_                        

There's still lots of folks that want to analyze and link #BigData but have forgotten they have to store it someplace

@EvanJayLevy

Mining #BigData 2 populate Social MDM & do entity matching on BD will help derive 360° view from public, subscription & enterprise data.

@azornes

Without consistent master data via #MDM, enterprise can’t measure "who" is "tweeting/blogging/friending" about "what" product/service

@azornes

"Big data is useless unless you have some idea of who/what that data is about." ~ @azornes MDM helps accurately i.d. individuals.

@DnBUS

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Do companies need real-time MDM, and if so, what for? Social? Other sources?

It’s becoming crucial in the financial world. Advisors need to access account data for millions of clients and they need it now

@WhitneyAEden

Seems to me real-time is where #MDM should live. This is most interesting co I've found: http://t.co/coetnIbGpN

@eric_kavanagh

Yes! Real time MDM is definitely needed--supply chain management is just one example.

@DnBUS

here are lots of real time MDM use cases in customer support (using caller id to identify customers)

@EvanJayLevy

I believe the key principal is to trap at route cause – that may or may not necessitate real-time…

@darrenpeirce

Real-time MDM use case: When #MDM is connected to website, it become real-time as cust access their profile

@ Ravi_Shankar_

Real-time #MDM (speed of thought) mandated for customer onboarding, e-com transaction authorization, etc. ▪ look to IBM, INFA & SAP for this

@azornes

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Why is reference data such an important part of the MDM discussion?

Because #ReferenceData needs to be mastered and versioned for auditing and risk management. Plus it keeps all systems using it in sync.

@rprowe

MDM reconciles inconsistent reference data across disparate system. This is the secret sauce to data integration

@EvanJayLevy

Reference data is important to MDM b/c its semantic content provides a context for master data.

@DnBUS

Many business processes operate at aggregate level – Reference Data defines the aggregates…

@darrenpeirce

Mismatches in ref data impact on DQ affect integrity of BI reports & also are common source of app integration failure #RDM #MDM

@azornes

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Information Management and the MDM & Data Governance North America Summit Series are committed to providing you with the necessary industry knowledge and peer-to-peer networking needed to begin or fine-tune MDM programs.  Begin the conversation now at #MDMDG and continue the dialogue at the MDM & Data Governance Summits.