What is Virtual Master Data Management (Virtual MDM or VMDM)?
Process of Virtual Master Data Management (Virtual MDM or VMDM) combines data virtualization and Master Data Management technologies for providing an integrated view as well as understanding of Master Data. Organizations are able to provide master data access by generating its multiple on demand views to processes and applications and many more entities.
This can be explained by understanding an example of a business organization. The master of the enterprise is stored in multiple formats including standard files, Extensible Markup Languages (XML), and Relational Database Management Systems (RDBMS). Virtual MDM offers a data virtualization solution that is designed to extract data at run time from all sources. It is seamlessly accessible by different applications as well as services via standard database and Web services. This ensures that the front end services are not prone to master data changes while being able to provide an integrated and singular view of master data.
Every business that is engaged in dealing with consumers on day to day basis such as consumer goods, banking, and healthcare needs to gain insights into customer behavior pattern. Presence of data that is stored across diverse and usually dynamic source systems can pose overwhelming hurdles in terms of profiling, relationship, and integrity issues. Virtual Master Data Management (Virtual MDM or VMDM) offers a 360 degree view of relations between data objects and enhances data integrity and provides a central indexing service for the widely distributed data.
Implementation of Virtual Master Data Management (Virtual MDM or VMDM) organizations are able to compare, combine, resolve, and review potential data related issues. Virtual MDM is ideally implemented in enterprises that need to handle large volumes of data that are being stored in variety of source systems. Virtual MDM configurations can be implemented for elimination of data incompatibility and handling challenges of perpetually changing database environment.