Next week we have the Master Data Management (and Data Governance) Summit Europe 2017 in London. I am looking forward to be there.
Some of the sponsors I am excited to catch up with are:
- Semarchy, as they have just released their next version multi-domain (now promoted as multi-vector) MDM (now promoted as xDM) offering emphasizing on agility, smartness, intelligence and being measurable.
- Uniserv, as they specialize in hosted customer MDM on emerging technology infused with their proven data quality capabilities and at the same time are open to coexistence with other multi-domain MDM services.
- Experian Data Quality, as they seem to be a new entry into the MDM world coming from very strong support for party and location data quality, however with a good foundation for supporting the whole multi-domain MDM space.
This year there are a handful of Danish speakers. Can’t wait to listen to:
- Michael Bendixen of Grundfos pumping up the scene with his Data Governance Keynote on Key Factors in Successful Data Governance
- Charlotte Gerlach Sylvest of Coloplast on taking care of Implementing Master Data Governance in Large Complex Organisations
- Birgitte Yde and Louise Pagh Covenas of ATP telling how they watch after my pension money while being on a Journey Towards a New MDM System
- Erika Bendixen of Bestseller getting us dressed up for Making Master Data Fashionable by Transforming Information Chaos into a Governance-Driven Culture.
This month I am going to London to attend the Master Data Management Summit Europe 2017.
As a teaser before the conference Aaron Zornes made a post called MDM Market 2017-18: Facts vs. Beliefs (with apologies to current political affairs fans!).
In his article, Aaron Zornes looks at the slow intake of multi-domain MDM, proactive data governance, graph technology and Microsoft stuff ending with stating that MDM as MANAGED SERVICE = HOT:
“Just as business users increasingly gave up on IT to deliver modest CRM in a timely, cost effective fashion (remember all the Siebel CRM debacles), so too are marketing and sales teams especially looking to improve the quality of their customer data… and pay for it as a “service” rather than as a complex, long-time-to-value capital expenditure that IT manages”.
I second that, having been working with the iDQ™ service years ago, and will add, that the same will be true for product data as well and then eventually also multi-domain MDM.
How that is going to look like is explained here on Master Data Share.
Master Data Management (MDM) has traditionally been about being better at utilizing and sharing internal registrations about our customers, suppliers, products, assets and other core business entities.
My latest work around master data management revolves around the concept of bringing in external data sources in order to make on-boarding processes more efficient and provide more accurate, complete and timely master data.
So, it was good to see that this approach is gaining more traction when attending the MDM Summit Europe 2013.
The old stuff
Andy Walker of BP presented how BP has built the management of party master data around aligning with the D&B WorldBase for business-to-business (B2B) customer and vendor master data.
Knowing about with which actual legal entities you are doing business and which external hierarchies they belong to is crucial for BP both in daily operations and when it comes to reporting and analysis utilizing party master data.
Using business directories isn’t new at all; it has been around for ages and from what I have seen: It works when you do it properly and consistently.
The new stuff
Big data was a hot topic on the conference. As reported in a post from the first day embracing big data may lead to Double Trouble with Social MDM and Big Data.
However, digging into big data and doing social MDM may certainly also provide new opportunities as we by utilizing these new sources actually may be able to obtain (or closing in at) a 360 degree view on various master data entity types. It is, as said and tweeted by Steve Jones of Capgemini, about looking outside-in.
Yesterday was the first day at the MDM Summit Europe 2013 in London.
One of the workshops I attended was called Master Data Governance for Cloud/Social MDM/Big Data. The workshop was lead by Malcolm Chisholm, one of my favorite thought leaders within data management.
According to Malcolm Chisholm, and I totally agree with that, the rise of social networks and big data will have a tremendous impact on future MDM (Master Data Management) architecture. We are not going to see that these new opportunities and challenges will replace the old way of doing MDM. Integration of social data and other big data will add new elements to the existing component landscape around MDM solutions.
Like it or not, things are going to be more complicated than before.
We will have some different technologies and methodologies handling the old systems of record and the new systems of engagement at the same time, for example relational databases (as we know it today) for master data and columnar databases for big data.
Profiling results from analysis of big data will be added to the current identity resolution centric master data elements handled in current master data solutions. Furthermore, there will be new interfaces for social collaboration around master data maintenance on top of the current interfaces.
So, the question is if taking on the double trouble is worth it. Doing nothing, in this case sticking to small data, is always a popular option. But will the organizations choosing that path exist in the next decade? – or will they be outsmarted by newcomers?
The weather in London has been awful this March. The forecast for the first week of April doesn’t meet historical standards either. The MDM Summit Europe 2013 will be in London 15th to 17th April. You shouldn’t go there because of the weather based on the trend in the weather forecast:
On the other hand, it could heat up indoor.
There are quite a lot of exciting sessions, including the ones about:
And hey, it has happened before that the weather has suddenly improved.
Data Governance (DG), Reference Data Management (RDM) and Management Data Management (MDM) are closely related disciplines.
Consequently the Data Governance Conference Europe 2013 and the Master Data Management Summit Europe 2013 are co-located and a hot topic this year is Reference Data Management.
The difficulties in putting the sessions on the conference in one right place may be seen by that the session called Establishing Reference Data Governance in the Large Enterprise is part of a MDM track, but is actually mostly about data governance. The session is labeled Product MDM & Reference Data, but will be about governing reference data for multi-domain MDM and the data governance program described was in fact based on a party master data challenge involving reference data for industry classification.
In the session Petter Larsen, Head of Data Governance at Norway’s largest financial services group called DNB, and Thomas T. Thykjaer, Lead MDM Consultant at Capgemini, will connect the dots in the landscape of business vocabularies, data models, the data governance toolbox, data domains and reference data architecture.
I for sure look forward to that Petter and Thomas will put it right.
If you are a Master Data Management (MDM) fanatic seeing the MDM solution as the centre of the universe and you plan to attend the MDM Summit Europe 2013 then you might as well start to work on your consistency in booing and your accuracy in throwing rotten tomatoes.
In the session called Multi-Entity MDM for the Enterprise Bert Hooyman will shock you by telling that managing master data is not considered a differentiating capability at Royal Philips Electronics.
The solution at Philips is based on the information factory idea and built upon data warehouse technology. Master data and transactional data are treated equally.
Where others may struggle with Multi-Entity / Multidomain MDM the path chosen by Philips already serves multiple business cases for combining party master data and product master data.
I guess the term “a Philips light bulb moment” could have been used too much, so let me just say that I look forward to be enlightened on how to do MDM in an energy saving way.