Gartner: MDM is about business processes, not just technology
2011-01-24
As more major financial institutions move to incorporate master database management systems to help improve their customer segmentation analyses, executives and officials must be careful of committing several common mistakes.

In a recent report from Gartner, the research firm outlines 10 myths that could get IT managers and FIs in trouble. While the report lists such commonly espoused mistakes as believing that MDM is just too big to implement or it is only meant for large, complex enterprises, it focuses primarily on correcting the misconception that MDM is only about technology.

Instead, the report writes of MDM as a tool for understanding how business processes work and that all sectors, not just the IT department, must be involved in the many projects that will accompany the technology's implementation.

"MDM is the latest attempt to solve the old problem of inconsistent versions of important data at the center of an organization," said Andrew White, research vice president at Gartner. "As with any new initiative, there is a lot of hype and confusion ... Executive sponsors of MDM ... must avoid several common mistakes that have been known to derail MDM initiatives in the past."

As a follow-up to the report, Gartner plans to hold a seminar on MDM in early February in London.

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