"Data mastering applications improve strategic planning and tactical decision-making by creating a unified, consistent, and accurate view of data across an enterprise. These benefits have translated into substantial growth in the master data management (MDM) market.
Sales of MDM-related software and services are rising at an annual rate of 23.2 percent, and are expected to reach about $27 billion by 20201 . An explosion of corporate data, the emergence of big data, and increasing compliance requirements also contribute to this trend.
But few mastering projects succeed, due to the time and effort that is required to implement and execute them. Traditional approaches to mastering data are long, complicated, and cumbersome endeavors that drain resources. It can take a year or longer to produce a single mastered domain – proving very costly for companies that need to master multiple domains.
This white paper discusses the pitfalls and problems of legacy master data management methods. It highlights innovative new approaches to data mastering and introduces Omni-Gen, a product that simplifies and accelerates the creation and deployment of mastering applications.
Omni-Gen reduces the time to master a single domain from 12 to 18 months, to three months or less. This new solution combines integration, data quality management, and master data management capabilities into a single, unified environment for efficiently defining integration, data quality, match/merge, remediation, and unification plans."