New generations such as Generation X, Y, Einstein, Digital Natives and Screenagers seem to succeed in a much faster pace than generations once used to do. However they all have one major characteristic in common, their strong preference to share fast quantities of information and data with much more people than any generation before them.
A very recognizable example is the consequences of this sharing preference is the tremendous growth of photo’s and pictures that are made every day. Some are solely for the purpose of sharing on the internet. But still, a good number of these pictures are destined to stored for pure memory purposes; in a good old fashioned photo book. The stack of photo’s was always larger than expected and usually not very chronological. After a reluctant evening of pasting all the relevant photo’s, a vow was made to make less pictures and to past the pictures more frequently to keep up to date from now on in order to keep in control.
With the coming of digital photo’s and the new generations more pictures are made than ever. Keeping track of them is even harder now than in the pre-digital era. This analogy is the same for information and data. Where paper document used to be stored in archives. With the arrival of digital data in data warehouses, the significance of data has changed. Data has fast become the new competitive production factor during the last few years. The storing and usage possibilities of data as both an input and output asset have grown tremendously. And so have the issues of maintaining data for a relevant purposes, now and in the future. More and more companies are currently looking for ways to manage and govern their data.
To be, like with the photos, in long term control. Companies are construct ways to have data governance for both the internal use of information for purposes such as Business Intelligence and customer relationship as well as obtaining external consent from supervisory organizations. One of the emerging instruments for data governance is Master Data Management (MDM). By defining and managing the master data, one common language is being created, establishing control, governance and future accessibility and availability of data. For this reason it is the powerful instrument to constructively withstand the existing growth of data.
Many companies are already working on their Master Data, also known as Big Data.
Althought it is complex they are gaining back control over their current and future data growth.