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Master Data Management: Hot Market Even in Cool Times
Gartner is forecasting a healthy 18 percent annual growth for MDM over the next four years. In 2009m, annual sales of MDM totalled $1.3 billion. At that rate, in 2014, MDM sales are projected to reach $2.9 billion. MDM can help businesses improve their service and provide greater agility, which can lead to cost reductions and simplified integrations.
John Radcliff, research Vice President at Gartner, explained the importance of MDM by saying that “MDM is a technology-enabled business discipline in which business and IT organisations work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the organisation’s official, shared master data assets. Today, most organisations juggle multiple sets of business and data applications across corporate, regional and local systems. At the same time, customers are demanding faster and more complex responses from organisations, leading to an inconsistency that hinders the organisation’s ability to measure and move within the market. With MDM, CIOs can create a unified view of existing data, leading to greater enterprise agility, simplified integration and, ultimately, improved profitability.”
Other predictions about MDM from Gartner include:
- By 2015, 10 percent of MDM solutions will be delivered as SaaS.
- From now until 2015, 66 percent of IT departments will continue to struggle to defend the business value of MDM
