So with the news that Microsoft has acquired MDM expert provider company Stratature there is a whole new thrill in the software and particularly in the SOA market to know how MDM fits into the bigger picture.
Update from Microsoft - www.microsoft-watch.com/content/business_applications/microsoft_bi_goes_mdm.html
So what is MDM ? here's what you find a definition when you search on Wiki -
"Master Data Management (MDM), also known as Reference Data Management, is a sub-discipline of Data architecture within Information Technology (IT) that focuses on the management of reference or master data that is shared by several disparate IT systems and groups. MDM is required to enable consistent computing between diverse system architectures and business functions.
Large companies often have IT systems that are used by diverse business functions (e.g., finance, sales, R&D, etc.) and span across multiple countries. These diverse systems usually need to share key data that is relevant to the parent company (e.g., products, customers, and suppliers). It is critical for the company to consistently use these shared data elements through various IT systems.
Most enterprises have implemented their own special blends of ERP, CRM, Business Intelligence, Financial Reporting, Planning, and other operational systems in order to accommodate unique business requirements. Each of these systems requires the same dimensional information to operate, yet they manage this information independently, which directly affects dimensional synchronization and reconciliation across systems. Master data management software aims to integrate dimensional and master data across BI, data warehouse, financial and operational systems, providing for accurate, consistent and compliant enterprise reporting.
Master data management can go beyond data integration. MDM generally has a data governance component. Data governance means having to define clear data owners and users, having clear business policies regarding what is good master data and what is not. Master data management is also about providing continuous reports and alerts to master data owners and the stewards regarding the health of the master data."
Check more on MDM at Wikipedia site - http://en.wikipedia.org/wiki/Master_Data_Management
More details in MS article - http://msdn2.microsoft.com/en-us/library/bb190163.aspx
MDM doesn't seem to be like a new concept but it's getting more visibility now! Let's see how far this can succeed and fit the SOA bill! Cheers - Dipesh