The three letter acronym MDM may mean several different things. It can for example be:
- Master Data Management, which is one of my specialties or
- Meter Data Management
This morning I read an article on metering.com telling about that Meter Data Management varies across Europe. The article was about the different approaches that are taken in various European countries when it comes to access to and storing meter readings in the energy sector.
I noticed that these different approaches very much resembles how public sector basic data about addresses, companies and citizens are made accessible and stored in the same countries. Scandinavia has a centralized approach, some other countries have some hybrid solutions and Germany has a strictly decentralized approach.
As told in the post instant Data Quality at Work I am right now working with Master Data Management in the energy sector. These projects certainly have some bordering zones to Meter Data Management.
So it’s good to see that reading the article about MDM (in this case Meter Data Management) makes just as much sense if you thought it was about MDM (being Master Data Management):
“The most important factors for supporting and choosing a particular model are cost efficiency, transparency, data security and efficient processes. The rationale for centralized MDM also seems to be strengthened .. because of the increased amount of information exchanged.
There is also a clear understanding .. that the chosen MDM model needs clear rules regarding data access, privacy and security, while enabling proportionate access to data by authorized parties to ensure that benefits can be delivered.
As such many regulatory changes are occurring .. that .. considers that efficient and secure information and data access for relevant stakeholders is fundamental for a proper .. market functioning and customer protection and empowerment .. and indeed different countries might require different MDM models on the basis of their market design specificities.”
So, MDM is just like MDM.