MDM AND CLOUD – Relationship as one Single unit

As the world moves post recession in an uncertain recovery fashion, two things have become critical and imperative for all CXOs in the Organization as far as IT driving the Top-line and Bottom-line

1. How to bring down the Total cost of Ownership ( from Hardware, Software, Licenses, Resources)
2. How to maximize the ROI (Return on Investment) and RoE ( Return on Expenses)

Before starting off, we all should know the nuances and uniqueness of Cloud Computing: Any applications delivered over Internet are called as Cloud Computing. The applications are hosted in a single or multiple data-centers (DC).From an accessibility perspective it can be used around the globe. The cost model is based on your monthly usability per subscription.

From the business benefits angles, the applications can be personalized and scale up or scale down based on customer requirements. Organizations no need to have their proprietary hardware or licenses or no need of spending additional expenses on maintenance. Also the nightmare of upgrades or patch of enterprises applications completely dries out.

Master Data Management (MDM) is the framework of processes and technologies aimed at creating and maintaining an authoritative, reliable, sustainable, accurate and secure data environments that represents a “Single version of Truth or Golden Record” an accepted system of record used both intra and inter-enterprise across a diverse set of application systems, lines of business, and user communities.

From the business benefits angles, with MDM on place, it helps in generating the Golden records with Hierarchical and cross-domain relationships for all Party entities (ex-Individuals, Organization, Households) resulting in Cross-sell and Up-sell resulting in increasing the “share of wallet” and Improvising “Just in Time” customer service resulting in “Customer Loyalty”. MDM brings down the Operational and Integration cost factors and increases IT agility and with MDM enabler to “Right set of Analytical Data” helps in Compliances, Risk profiling and decision making process.