Thanks a lot Michael. I fully agree with you and that's a bad indicator for Software AG who states that they have decided to put (locked in?) their MDM within their BPM directly; but how to manage business rules over ref/master data? It still remains a missing link for them and far away from their domains.
Actually, this is very acute for companies such as SAG, Informatica, Tibco, etc. to really understand the added-value of a MDM system. Indeed, it requires a huge background in the data modeling and data management field which is surely not the case of those companies. They are historic actors in the IT integration (EAI, ESB, ETL) and cleansing data quality tool. But the active data quality and the data governance brought by a real MDM system is a higher level of abstraction and operation.
To get full story of the active data governance, you can read the complete article by Tonny Wong where Michael Atkin gives its vision. By the way, Christophe Barriolade, CEO at Orchestra Networks, is also quoted in this article. You can access it here. This is very helpful to understand why and how a MDM system must be integrated.