MDM Among The Fastest Growing Software Markets The Master Data Management (MDM) market has gone from being a slow growth market, populated by point suppliers providing relatively narrow solutions, to being one of the fastest growing software markets, dominated by some of the largest suppliers of IT technology who are selling much broader solutions.
MDM supports the global identification, linking, and synchronization of all data elements that help to fully explain products, customers, and other key categories of data. An MDM serves as a central system of record and improves the quality of the information lifecycle across data creation, augmentation, use, and retirement.
The year 2006 was an inflection point with extremely high year-to-year growth of over 30% in 2005 to 2006. For the next five years, the market will grow more quickly than it has in the past, and this segment is expected be one of the fastest emerging software markets.
The growth of Master Data Management is being fueled by growth and interest in data governance. MDM is the primary technology that will help companies improve their data governance practices, although companies may also need specialized data quality tools.
Strategic Issues
This study addresses a number of strategic issues:
- What is the value proposition of point suppliers versus ERP or platform suppliers?
- How can companies use Total Quality Management concepts to help cost justify data governance projects?
- Why are traditional processes used to cost justify IT projects flawed?
- How would improved processes help the MDM market grow?
- Is the growing focus on Service Oriented Architectures a good thing for this market?
