With the rise of Internet of Things (IoT), asset – seen as a thing – is seriously entering the Master Data Management (MDM) world. These things are smart devices that produces big data we can use to gain much more insight about parties (in customer and other roles), products, locations and the things themselves.
In the old MDM world with party, product and location we had 3 types of relationships between entities in these domains. With the inclusion of asset/thing we have 3 more challenging relationship types.
The Old MDM World
1: Handling the relationship between a party at its location(s) as for example a postal address and possibly also a geocode is one of the core capabilities of a proper party MDM solution.
2: Managing the relationship between parties and products is essential in supplier master data management and tracking the relationship between customers and products is a common multidomain MDM use case.
3: Products are often related to a location, product features and not at least the language(s) used has a relation to locations and digital assets as certificates are location dependent.
The New MDM World
4: We need to be aware of who owns, operates, maintains, manufactured and have other party roles with any smart device being a part of the Internet of Things.
5: In order to make sense of the big data coming from fixed or moving smart devices we need to know the location context.
6: Further, we must include the product information of the product model for the smart devices.