Master data management grows more significant

The big data phenomenon is having a major impact on companies of all sizes, as executives are forced to find innovative ways to accumulate, evaluate and ultimately use fast-moving, highly diverse resources. Managing these assets and ensuring their accuracy can be difficult if an organization is not using the proper tools.

For this reason, Gartner noted that master data management (MDM) tools are important. By using MDM technologies, IT executives can be sure digital resources are unified and consistent across all virtual landscapes. The solutions also give decision-makers unique insight into customer relations and what steps can be taken to improvetrust.

"The ability to create a single view of the customer is extremely valuable to organizations as it helps them to understand and enhance the customer experience, improve the bottom line and increase efficiency across the enterprise," MDM expert Melissa Boxer said.

A separate report by Computer Weekly emphasized the importance of planning MDM strategies ahead of time to prepare for the big data phenomenon. Because the resources associated with this trend are diverse and complex, decision-makers need to have the ability to see the entire landscape if they are to develop effective strategies for using the digital assets.