Master data comprises confidential and critical business data regarding customers, products, financial transactions, suppliers, and others. Emergence of MDM has enabled enterprises to collate and manage master data and utilize it for data analytics and effective decision making.
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Master data management (MDM) Market is an approach which enables enterprises to link its critical data to a single file known as a master file from where one can retrieve the data through a single point of reference. The mastered data includes analytical datathat supports decision making and reference datathe dimensions for analysis & business objects for transactions.
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The master data management market is segmented in terms of applications, end users, deployment models, industries, and geography. The deployment models favored by enterprises consists of on premise and cloud-based model.
In terms of application, the market is segmented into product data, supplier data, customer data, and others. Based on organizational size the market is segmented into small & medium enterprises and large enterprises.
Industries served by the master data management market include BFSI, IT & telecommunication, media & entertainment, healthcare, retail, manufacturing, and others. Regions expected to observe tremendous growth in the MDM market are North America, Europe, Asia-Pacific, and LAMEA.
Rise in need to have installation of centrally located and managed data among business organizations
Growing requirements for data verification and authenticity
Strengthening need to have excellent business performance and data quality
Need of improvised customer management services and higher operational efficiency
Threat of data breach
Lack of awareness about the benefits of MDM solutions and services
The key industry leaders in the global master data management market International Business Machine Corporation, Tibco Software, SAP AG, SAS Institute Inc, Riversand Technologies, Teradata Corporation, Informatica Corporation, Riversand Technologies Inc, Syncforce, and Talend.
By Deployment Model
o Supplier Data
o Product Data
o Customer Data
By Organizational Size
o Small & Medium Enterprises
o Large enterprises
By Industry Vertical
o IT & Telecommunication
o Media & Entertainment
- North America
o South Korea
o Saudi Arabia
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