Q

What is driving MDM investments in the current economy?

Learn why companies are making MDM investments despite poor economic conditions and learn about master data management benefits in this Q/A.

In your opinion, why has master data management (MDM) been a hot sell during this downturn in the economy? What are main selling points around MDM for CIOs, CTOs and CEOs?
Because MDM solves high-profile business problems that are costing companies money that they increasingly can't afford to lose. And executives are paying attention -- if not to the data, then absolutely to the spend.

Administrators at hospitals are looking at measurements and realizing that there are different care plans for the same patient. Appointed managers in state government agencies are looking at the federally-mandated fines and wondering why they can't get the feds' family assistance statistics in time. Pharmaceutical company executives are realizing that their companies are giving samples to doctors within invalid or non-existent AMA numbers. All of these are high-profile and high-impact business problems. And, in an economy where every penny counts, they're also more expensive to sustain than they are to fix with MDM. The argument to these C-level executives is simple: Do you want to keep bleeding money and jeopardizing customer welfare? Or do you want to fix and reconcile your data? The answer should be a no-brainer.

This was last published in March 2009

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