Companies all across the globe are beginning to realize the potential of information as a key business asset that can be leveraged upon to enter new markets, reach new customers, create new products / services and attain operational efficiencies. As a result, they are striving to protect, manage and maintain their rapidly expanding information assets. In order to gain control over the growth rates, optimizing data storage management costs and reducing business risks at the same time requires smart information infrastructures.
Technology infrastructure designing companies are applying process and service oriented approaches to answer a company’s storage and information protection requirements. According to conventional school of thought they could create more and more storage resources to store and hence manage data. However, it is not going to generate any benefit in terms of information-based decision-making.
Data infrastructure developers must create technologies, processes and people to optimize needless data storage, backup and archiving. This is where MDM – Master Data Management comes into play. An MDM works like a central data repository that allows storing, refreshing and evaluating the company-wide data at a centralized location. This information warehouse compounds growth by the amount of data that companies save on regular intervals.
Master Data Management allows information explosion with the advent of new business opportunities and hence select products, services and technologies by recognizing key capabilities and functional attributes required for their information infrastructure. With a focus on information infrastructure capabilities that deliver timely and secure information services throughout an organization, the data infrastructure is designed according to core capabilities and enabling tools needing to deliver end to end services.
Incorporating the same approach to data infrastructure, companies must think in terms of how to best deliver information services and then implement them as integrated, coordinated set of strategies, processes and technologies to answer the business requirements. Such approaches are required to be organized around priorities and capabilities rather than centering specifically on the key or individual products. Some of the most integral information infrastructure capabilities include data availability, security, asset utilization, data protection, retention management and compliance. Once the requirements are defined in terms of information infrastructure and best practice, data infrastructure managers begin to specify attributes that shall be assured to address the aforementioned capability areas that again help address the evolving business requirements for a long duration of time.
This capability based approach to define requirements and solutions development pays huge dividends for companies across all sizes and segments.