Master Data Management

In 1941, a new term was added to the Oxford English Dictionary: Information Explosion (Press, 2013). The term explains the growth in information content seen seven decades ago, beginning with Fremont Rider; a university librarian who in 1944 estimated that information in university libraries would double in size every sixteen years. Nearly seventy year later, Bounie and Gilled, produced a report called “International Production and Dissemination of Information”, and concluded that the world in 2008 produced 14.7 exabytes of new information; three times the amount of information produced just five years earlier (Press, 2013). This rapid growth in information content has generated a greater need for organizations to evaluate how key organizational content is managed to achieve strategic goals and to remain competitive in today’s business environment.