Master Data is the core data that is essential to all businesses, regardless of size or industry. Recognizing how important master data is to operations, many businesses are moving towards Master Data Management (MDM) models to ensure their master data is persistently healthy. These models include content consolidation, master data harmonization, policies, standards, tools, and more. Examples of the more commonly governed master data include customers, materials, and vendors.
Computer Weekly states that choosing master data management (MDM) software differs from selecting other technologies for managing enterprise data. “Technology choice in MDM should be governed by a well-structured process.” Andy Hayler, CEO of London-based analyst firm said. Buyers need to look at the technical constraints of their own IT environment and identify their MDM requirements in some depth. “Maybe for your company certain features are really important,” he said. “Maybe you have got very high volumes of data, or maybe hierarchy management is more complex for you.”
IBM, with its InfoSphere MDM, for example, manages master data for single or multiple domains – customers, patients, citizens, suppliers, locations, products, services offerings, accounts & more. However, Microsoft’s entry into the MDM market, though it is likely to take a number of years, could put pricing pressure on its competitors as Microsoft targets mid-sized companies with lower-cost MDM products.
John Radcliffe, an analyst with Gartner said “Most MDM vendors are also more focused on supporting operational and transactional environments – think call centers and warehouse floors – but some are optimized to support business intelligence (BI) and other analytical use cases”. After identifying a clear vision for the master data program, organizations need to create a strategy. This means considering the available resources and understanding the amount of time and money involved in executing an MDM plan.
Data within your company is critical, as shown by the development of more sophisticated technologies, such as MDM, to manage the second most critical asset in any company – second only to the employees themselves. Backup and Recovery of that Data is also critical to protect this important asset. As the data and its management becomes more sophisticated, so do the backup and recovery procedures.
The IT staff is stretched thin with the design, management and support of data models within the organization. The requirements of the sophisticated data backup design and execution can be outsourced to take that pressure off the IT staff and allow them to focus on internal critical initiatives. Consider Managed Service Providers, such as Salvus Data Consultants, that specialize in all modern Data Backup/Recovery methods for this very critical need.