How Master Data Management Enables Big Data
All these different kinds of data can be confusing. Well that is not something new. Many of us are in the same state. What is what and also the most asked question is which data is most valuable. Well if think this through the smartest conclusion in my opinion is that the combination is most valuable. For example if you are enabling Big Data based on Master Data the relevance will increase enormously. Shall we dig a level deeper? Starting with Master Data and ending up with the team of Master Data and Big Data.
As already written in different articles such as The Simplicity Or Complexity Of Master Data , The Five Golden Rules Of Master Data Management and of course the Whitepaper; The Five secrets of Master Data Management, Building a sustainable future. Give you all the insight you need. Let us get back at Gartner:
Master Data is data from the core of your company and business processes related to this core. Relationships between this data is business processes are key values. Master data management is a business orientated discipline to maintain and manage master data
I have not devoted many articles yet on Big Data. However the essence of Big Data can be read in the article: Is Your Company Ready For The Waterfall Of Data? . Also it is discussed by almost 500 experts at LinkedIn via the article: The Value Of Data On The Balance Sheet. But to be consistent let us get to Gartner for this definition of Big Data as well:
“Big data is high volume, high velocity, and/or high variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization. By Doug Lany, VP Research at Gartner
Combining big data with master data, as well as other data sources, greatly extends the value, accuracy and usefulness of big data. Teaming Big Data up with Master Data is the key to success. Because it gives you a combination of the business critical identity to plot big data sources on.
Enabling Big Data
Master Data Management is the foundation for data you can trust and enables optimizing business processes. This data reflects all the core activities of a company. When done accurate, the quality of the data enables Big Data to come in and play a big role. Putting Big Data in the perspective of your companies important demands.
MDM contributes a solid foundation for generating trusted data and more efficient business processes. It touches almost every important activity in an organization. MDM collects data on things like customers and products—normally in silos throughout the enterprise—and brings it all together in centralized hubs of high quality data. An organization can go from fragmented views of the enterprise to a big picture or “single view”, to support insights that lead to better decisions.