New trends will help shape the evolution of the master data management (MDM) market as it grows and matures, according to technology research services firm Gartner, Inc., US.
Analysts are outlining the key issues facing the industry at the ongoing Gartner Master Data Management Summit.
The Gartner MDM Summit, being held from May 4-6, 2011, at the Hyatt Regency Century Plaza in Los Angeles, seeks to provide an in-depth view of how MDM programmes are moving into multiple domains - among customers, products and suppliers - gaining real-time integration with business applications and providing more support for smarter business decisions.
Three key trends that are generating increasing interest within the MDM market include growing demand for multidomain MDM software; rising adoption of MDM in the cloud; and increasing links between MDM and social networks.
It is expected that by 2014, 66 percent of Fortune 1000 organisations will have deployed two or more MDM solutions to support their enterprise MDM strategies. Historically, most MDM initiatives have been oriented around a single master data domain. However, many organisations are now striving for a broader vision of how to achieve multidomain capabilities over time.
Gartner forecasts that by 2015, 10 percent of packaged MDM implementations will be delivered as SaaS in the public cloud. Currently, MDM is typically implemented in on-premises solutions. Many industries, such as financial services, are reluctant to place such important, heavily shared information as master data outside the firewall. Equally, there is resistance to the idea that the governance of one's primary information assets can be left to an outsider. Privacy issues have also dampened adoption of software as a service (SaaS) in some regions, such as Europe. However, on-premises MDM solutions are increasingly being integrated with SaaS applications, and there are various cloud-sourced data services (such as data quality or data integration as a service) that can help with MDM implementations.
By 2015, 15 percent of organisations will have added social media data about their customers to the customer master data attributes they manage in their MDM systems. Much social media analysis will be at the aggregate trend level. This analysis could prove very useful for understanding what the market thinks about a company, its products and its services. But if a company could identify the individual person who is 'tweeting' and what product or service they are referring to, that information would also be valuable, as they could act on their comments to protect their brand or provide a customised experience and product offering to that person.
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