I’ve known Haidong for several years, from my “previous life” at D&B, where I managed D&B’s alliance relationship with Oracle.
He made several great points that resonated with me:
- “MDM is the foundation for all of the other product areas and modules”
- “Poor Data Quality is the #1 Enemy of MDM”
- “Somehow, data has been left out – an afterthought – but if you don’t focus on the data, you’ll have issues”
- “Technology can actually magnify the problem if you propagate bad data across the enterprise”
- “Master data is in a constant state of flux” (what I call the ‘data decay’ problem)
- “Master data changes at a rate of 2% per month on average, so after 2 years, nearly half your data is obsolete or suspect”
Haidong talked about why data governance is needed in the enterprise, and how data quality issues can be an inhibitor to application acceptance. He talked about helping clients to avoid large fines and bad publicity, and the need to formalize a data governance framework.
He gave Toyota Financial Services and UMB Bank as two customer success stories, talking about their situation and challenges, and the Oracle solution they implemented and the positive results they experienced.
And he used the idea of a “Day in the Life of a Data Steward” to walk the audience through Oracle’s new “Data Watch & Repair” offering for MDM. It’s a closed-loop process, consisting of “Connect”, “Profile”, “Assess” and “Repair & Monitor” steps.
He also discussed Oracle’s integration with Acxiom, a consumer content provider, and with D&B, a business content provider.
He ended by describing Oracle’s MDM solution as the most complete offering on the market today. At Hub Solution Designs, we partner with all of the leading MDM hub providers. But from my previous experience with Oracle’s MDM products, and Haidong’s session today, I am very comfortable predicting continued success for Oracle in the marketplace.