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Do I need to buy software to do MDM?

Is it necessary to buy master data management (MDM) software to manage MDM initiatives? Hear from expert Jill Dyché in this MDM video about when it makes sense to buy MDM technology and why it depends on how enterprise-wide the MDM project will be.

Hannah Smalltree: Do I need to buy software or some kind of expensive technology to do MDM?

Jill Dyché: You know, that's an interesting, ironic question, too, because you don't need software if you got just a little bit of data. Evan [Evan Levy, of Baseline Consulting] uses the example of the meeting room, right. Your meeting room can be an asset and you can actually just go sign up for a meeting room and reserve that meeting room. If you look at data, the more data we have and more broadly that data is shared across the enterprise and across business processes, the more likely it is we're going to need some kind of technology to reconcile and harmonize all that common master data from across all those systems and the business processes that need to use it. So, we talk a lot about the scope of an MDM project and the more enterprise-wide MDM becomes the more necessary technology is going to be.

Hannah Smalltree: So, is that a yes or no?

Jill Dyché: That would be… that would be a yes for most companies that are interested in MDM and doing the research right now. They're going to find that they need technology.

 


MDM FAQ Video Series table of contents:

What is master data management (MDM)?
Who should manage MDM implementation -- IT or business?
What is a data competency center?
How do you calculate MDM ROI?
Do companies need to buy software to do MDM?
What is data governance?
What is the difference between data governance and IT governance?
In customer data integration, is a customer always an individual?
Can one MDM hub handle both customer and product data?

You can watch all these videos on one page with our MDM FAQ Multiplayer.

 

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