Back to the main page
What Role Does Master Data Management Play in Your Big Data Strategy?
Due in part to the adoption of cloud and social media, enterprises are seeing a huge growth in the amount of information collected on a daily basis—commonly referred to as big data. Big data presents new challenges, but it is also an opportunity to utilize information in new ways that can provide fresh insights about your customers, your products, and ultimately your business. This is where master data management (MDM) comes in.
Companies can leverage MDM to transform their big data using these techniques
- Achieve a common, consistent way to manage customer and partner information across the entire enterprise information lifecycle
- Provide consistent product and supplier information across different parts of the lifecycle as well as across social media channels
MDM not only manages information in a consistent fashion, it also resolves semantic differences and discrepancies. In addition, MDM augments explicit master data information from within the enterprise with implicit data from outside the enterprise, such as social profiles. This provides strong benefits and synergies for big data implementations where social data is critical.
In order to get the most from big data, businesses must acquire, organize, and analyze the deluge of data. Structured and unstructured data must coexist and be used in conjunction with each other in order to gain maximum insight. MDM is the catalyst that helps maintain tight linkage between the types of data, so companies can better understand how it works together to provide a complete portrait of their business.
By using MDM to resolve semantic discrepancies and augment explicit master data from within the enterprise with implicit data from outside the enterprise, businesses get a single enriched and unified view of master data—and an advantage in embracing big data solutions.
Oracle’s master data management suite of products provides a platform that consolidates and maintains complete, accurate, authoritative master data across the enterprise and effectively distributes this master information to all operational and analytical applications.
Learn more about how MDM is critical to making the most of big data.