After all these years, Master Data Management (MDM) has finally emerged from its awkward teenage years as a pimply-faced young adult, not quite sure if it’s ready to take on the world. A few industry analysts have even said that MDM is officially in the “trough of disillusionment,” confirming that while MDM is no longer in diapers, it is not quite mature enough to get a real job or get married.
Having worked in data management for the past 23 years, with most of that time in MDM, I thought I had seen it all.
Traditional 20th century MDM has certainly seen its ups and downs throughout its short history, but what excited me about joining Reltio was the idea of starting with a clean slate and building a 21st century Modern Data Management solution from the ground up. A solution that not only revolutionizes MDM, but goes beyond the basic single version of the truth.
Fortunately, Reltio doesn’t have any legacy 20th century pieces and parts to “Frankenstein” the next generation MDM offering. A luxury that legacy MDM vendors typically cannot afford.
As part of redefining not just the MDM market but data management in general, Reltio decided to focus on refining one of the key capabilities of MDM--data matching. Although matching algorithms and techniques really haven’t changed much over the years, the way these algorithms and techniques are applied could certainly be improved.
By applying a modern approach, with techniques - including an ongoing emphasis to leverage machine learning - to improve how matching is done, allows companies to be flexible in the early phases of development.
At Reltio, we are about being right faster. Therefore, our ability to tune and re-match all of your company’s key business entities faster, enables your organization to be more agile and accurate in a way that’s a clear departure from today’s MDM norm.
Being able to fire off all of the match rules at once, versus the traditional way of traversing match rules one at a time, and stopping once a match is found is one example. In another example, one our life sciences customers previously deployed a non-Reltio MDM solution and defined over 100 match rules.
Once they deployed Reltio Cloud, they were able to reduce the number of match rules to just 16. Reltio Cloud is a clear departure from the norm that provides key stakeholders with a modern, agile and simplified approach to data matching.
When you distill all of this information down, you’ll find that today’s traditional MDM solutions suffer from the same fatal flaw--a relational database that is used to manage and store data used in the match process.
Today’s MDM requirements go beyond yesterday’s repository of simple “common” master data in the thousands of records, and necessitates a modern solution that is able to integrate millions of transactional and interaction data across multiple systems.
Trying to manage relational database cross-reference tables, joins, intersection tables and more across newly mastered entities, including millions of transactional and interaction relationships, creates a relational “spaghetti” mess that just won’t scale.
In the end, what business users need today, is a single place where they can find reliable data and relevant insights that drive recommended actions across their entire enterprise.