MDM Simplifies Day-To-Day Management

From an enterprise perspective, what kind of business needs does Master Data Management (MDM) answer?

Business needs depend on the industry vertical that is looking at MDM to address challenges. For the telecom industry, ‘churn’ of data is highly critical. The churned data is useful to assess trends by using Business Intelligence (BI) tools. To quote an example, a repeated customer call can be analysed to see what kind of services can be offered, spot trends and identify business opportunities. The same concept applies to the healthcare industry. MDM helps brings operational efficiency and simplifies day-to-day management.

Has traditional MDM undergone a makeover considering the influx of analytics?

Yes, definitely. Today, there are lot of tools available for analytics. Every analysis requires different amount of information and each observation differs from one another. These tools offer a great amount of simplicity that helps businesses make informed and prompt decisions.

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Can Data Lifecycle Management (DLM) address compliance issues?

Yes, I do believe so. Most of the data today can be accessed while in motion thanks to multiple technology devices. But these devices need to be managed effectively. Enterprises should classify data and based on this, data can be controlled.

DLM helps enterprise analyse the entire path of data and facilitates right decision-making. Companies should ensure right steps are taken when handling data right from extraction till storage. Compliance issues arise when the entire procedure from classifying to controlling data is not handled effectively. If data is in raw format, then it is not beneficial. However, if raw data is transformed into information, then enterprises can draw trends and use BI tools for analysis. This holds good for unstructured data as well.

How can MDM be effectively integrated in business processes for the ITES industry?

MDM is too vast a topic to be generalised. To understand the concept, we need to break it down and see it vertical-wise. If one talks about MDM in ITES, there is lesser usage as compared to the telecom industry. We do not deal with huge chunks of data like PSUs do and most of the data is managed at our client’s end.

Our aim is to enable effective communication links and deliver maximum uptime. In our case, the risk mitigation and managing of datacentre is taken care of by the client. We get conditional access to the data which again eliminates any security issue. Like I mentioned, business processes are different across industries or for that matter even companies and one cannot have a standard solution.