It is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the enterprise’s official shared master data assets. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies and chart of accounts.
Published in Chapter:
Business Intelligence
Copyright: © 2019
|Pages: 11
DOI: 10.4018/978-1-5225-7362-3.ch043
Abstract
Big data is driving new forms of competition, new waves of productivity growth, innovation, and providing unique ways to interact with customers. Big data is comprised of a wealth of unstructured data that is being transmitted and captured by organizations to enhance business intelligence efforts. The forms that big data takes include text, video, voice, location data, social media, and its growth is exponential. Big data encompasses multiple dimensions, including volume, variety, velocity, veracity, variability, and complexity. Despite the opportunities that big data presents, organizations are having difficulty managing it, especially in the areas of data management and data governance. Executive involvement is critical to ensuring quality data for business intelligence as well as to ensure that their firms will be able to attract the necessary talent to effectively engage in BI analytics. It is recommended that management take a common-sense approach to dealing with big data to ensure that data-driven decision making is not compromised.