Six Steps to MDM Success - Slide 2

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There's a degree of skepticism about MDM right now, according to Daniel Teachey, the senior director of marketing at DataFlux. In "Master Data Management Isn't for Everyone: How to Evaluate Readiness,” Teachey writes that a number of IT veterans rolled their eyes at the mention of MDM during a recent trade show. And, to be fair, not everyone needs MDM he says. He writes:

If your data management challenges are more finite, or if you have a smaller number of applications within the organization, MDM might be overkill for your situation. There are other ways to achieve a 'single view' outside of MDM. Creating a reference data 'lookup' or migrating other data to an existing CRM or ERP system can achieve many of the goals of MDM — without the cost.

Be forewarned, however. A panel of data and MDM experts agreed recently that they have never seen it work when companies use a source system as the master copy of their data.

More organizations are pursuing MDM (master data management). Forrester Research says its client inquiries about MDM have increased 90 percent in the past two years, and by early December of 2010, Gartner had estimated that worldwide MDM software revenue would reach $1.5 billion by year end, a 14 percent increase from 2009.

That's a lot of cash and yet Gartner predicts 66 percent of organizations will find it difficult to demonstrate the business value of MDM.

Could it be that many organizations need MDM but haven't prepared for it?

In this slideshow, Loraine Lawson highlights the steps many MDM practitioners and analysts say you should take before embarking on a master data management initiative.

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