With the rise of big data we will see that master data is going to be Small Data with Big Impact.
Master data itself is going to grow in terms of volume and velocity. This is because we will have to manage more types of master data in order to make sense of big data. Notable examples are:
- We will have to identify more locations in order to make sense of the geospatial attributes in big data.
- We will be forced to manage some attributes of our competitor’s product master data, besides our own product master data, in order to listen to the talk in the social media stream.
- We will need to take care of more party master data roles. Besides the classic party master data roles of real world entities being customers, suppliers and employees we will have to care about subscribers, users and visitors of online services, followers and friends in social media and the spouses, relatives, friends of friends and other influenced ones of those.
It’s not the volume and probably neither the velocity that will be the big issue here. It’s the variety in the data which will support the processes in caring about those entities that is a huge challenge, not at least for ensuring the veracity of the master data here.