The way data is collected, stored, analyzed, distributed, and used has undergone a huge shift over the past few decades. The Internet of Things (IoT) continues to expand, technology continues to evolve, and more organizations are utilizing Big Data and cloud applications than ever before. Staying relevant will be dependent on an organization’s ability to leverage data, new applications, and data sources—and a critical component of a modernized data strategy will be implementing new master data management (MDM) capabilities.