What do you estimate that large and mid-tier pharmaceutical companies will spend on master data management (MDM)
services and software from 2010 to 2012?
The money that pharma companies stand to save as a result of MDM will more than exceed their investments as long as they:
1. Deliberately plan their MDM programs. Successful MDM programs in pharma and health sciences mandate a requirements-driven, roadmap-enabled approach. This will also help with budgeting and resourcing -- ongoing challenges in many of these companies.
2. Apply rigor around their MDM investments. Pharma companies have a tendency to prefer vendors that are already in-house. We find that often translates into overinvestment.
Dig deeper on MDM best practices
Related Q&A from Jill Dyché, Partner and co-founder, Baseline Consulting
Is it better for companies to go with an enterprise-wide master data management (MDM) implementation or deploy MDM departmentally? Find out which ...continue reading
Learn about the most common master data management (MDM) project pitfalls that companies run into. Get a list of the major problems that can hold ...continue reading
There’s a lot of talk about master data management but not so much about CDI and PIM. Find out what happened to those MDM-related technologies.continue reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.