For the past several years, companies across numerous industries have been warming up to the idea of multi-domain master data management (MDM) and its promise of synthesizing corporate data about customers, products, vendors and locations, in a uniform manner using the same processes and tools. Customers today have a wide range of choices for MDM, from custom applications to single-domain products, and industry-specialized products to multi-domain generalists.
There has been a growing market awareness and an increased appreciation for MDM solutions that are not dedicated or limited to only one subject area or domain, such as customer data integration (CDI) or product information management (PIM) solutions. Nor are organizations convinced that the best solution for their particular business need is a data management software platform whose major claim to fame is based on exclusively serving only that particular industry. Rather, there’s every indication that as the MDM marketplace continues to expand and mature, so does the appeal of a single MDM solution. However, the single solution needs to be flexible enough to comprehensively expand and support several subject areas, disparate processes and industry-specific use cases.
See full article at: Select master data management solution based on individual need – DMNews.
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