Master data management (MDM) solutions are used for much more than customer and product master data. According to a recent Information Difference report, MDM is also used for asset, location, supplier, finance and personnel data.
“Indeed it has become quite common for MDM efforts to begin in a relatively low-key area such as maintaining relatively stable reference data (country codes, etc.) as a toe in the water before broadening the initiative out to deal with more volatile master data domains,” the “MDM Landscape Q2 2014” report states. You can read the full report on The Information Difference’s site.
That doesn’t mean it’s a good idea to broadly apply MDM technology. As both Forrester and Gartner analysts as well as several IT Business Edge readers have pointed out, MDM is often misunderstood and misapplied within organizations.