For the purposes of this report, Master Data refers to the critical, underlying data that feed the applications and processes driving your business, as well as the reference data that regulates how different data silos relate to each other.
Master Data Management refers to a formal initiative to improve and maintain the quality of Master Data, usually involving specific technology solutions as well as policy and processes changes.
The critical issues in Master Data Management at the moment are:
- Rise in complexity
- High importance, low support
- The issue of Trust
- Definition of the Best-in-Class behaviour
- Best-in-Class differentiators: Train, Discover, Govern, Access, Analyze, and Automate
- Best-in-Class performance
This slideshow was complied by Nathaniel Rowe, research analyst at Aberdeen Group