We see three trends developing rapidly in the market and to some extent they are inter-related and we think will have a major impact in 2009:

MI has joined forces with MarketDeveloper to bring its data consultancy and management skills to bear on those companies who want a web-based CRM database solution. Unlike most solutions, MarketDeveloper was created specifically for the UK and European markets (no ZipCode here!). And unlike other online services the data is hosted exclusively in the UK – something that is increasingly important to companies and consumers.

Mike Hudgell, and MDM specialist with Evaxyx has provided an interesting and we think valid view on MDM, which we share with you here:

As with any novel acronym, myths abound around MDM.  It doesn’t help that ‘MDM’ is not exactly the most descriptive term.   On first glance, it is not obvious what master data is, nor how the management of it deserves any special attention over and above normal good practice for data management.  The Wikipedia definition is as good as any, but is in itself so wide ranging that those new to the subject might be left with the feeling ‘so what?’

First there was CRM (Customer Relationship Management), then came SCV (Single Customer View) and now we have MDM (Master Data Management) or MRM (Master Record Management). So, perhaps we should start with a definition of MDM – courtesy of Wikipedia: