“In a world of digital transformation, reliable data is the foundation of every business. Organizations must rapidly transform, connect and relate data to surface up relevant insights to drive and democratize decision-making,” said Ray Wang, CEO of Constellation Research. “Customers seek new solutions with a single integrated data management platform so they can take advantage of data-driven applications for the enterprise.”
Reltio, is in our opinion, a significant step (probably several steps) ahead of the market.
The worldwide public cloud platform-as-a-service (PaaS) competitive market grew by about 41% in 2014, after growth of 32% in 2013, forming a market that is about $6 billion in size. The public cloud PaaS competitive market is broken up into submarkets. Cloud data services (CDS) is the largest of these, and accounted for 31.5% of the market and grew by 58.5% in 2014. Cloud application platforms accounted for 30.5% of the market and grew by 42.4% in 2014. These are the markets where Reltio participates.
We have always believed that MDM is most effectively implemented, not as an integration tool, but as an application that ingrains domain knowledge about how specific industry sectors organize data. Reltio is applying that approach to big data, taking it a step further by applying machine learning to guide users and help them make decisions based on their discoveries about how people, products, and/or other entities interrelate. But for Reltio, MDM is just a means to an end. Its product, the Reltio Cloud, delivers what the company terms “data-driven applications” through a data management platform that incorporates MDM, big data, analytics, machine learning, data-as-a-service, and social collaboration. Reltio’s challenge is to effectively demonstrate to customers leery of traditional MDM that this is an application, not simply a data integration or data quality tool.
MDM is by no means the sexiest topic in the data management sector, but Reltio offers a differentiated take that we think enterprises will, at the very least, find interesting. We anticipate growing interest in data-driven applications that build on and operationalize the insight gained from analyzing data from multiple sources, while the vendor’s Commercial Graph approach offers a differentiated and flexible foundation for delivering the benefits of MDM while embracing a range of data sources, both structured and unstructured as well as internal and external. The app-focused strategy also means that Reltio is not relying on having to rip and replace existing MDM deployments and should be able to gain a toehold in new customers and markets with the help of its ISV and SI partners.
“The life sciences industry continues to face Commercial and R&D challenges that aren’t met by out-of-the-box packaged applications,” said Eric Newmark, program director for IDC Health Insights. “Enterprises need multi-domain data management and data-driven applications to put complete views of profiles and complex relationships across HCPs, HCOs, products and more, directly into the hands of business users across the organization.”
“Reltio is potentially a market disruptor that’s delivering enterprise data-driven applications with built-in master data management. Reltio can significantly increase the value of data by bringing it together to form a single powerful and more complete picture – including complex relationships that are not obvious. By delivering actionable insights and recommendations, such next generation MDM capabilities provide the potential for both internal operating efficiency and new forms of external business models such as data monetization.”
“There has always been a gap between traditional data management tools and business user needs and expectations. Reltio has not only eliminated that gap but also addressed both IT and business’ most pressing needs in a single integrated solution. Reltio is at the forefront of what we like to think of as ‘consumerization of big data’ with applications that are as intuitive as LinkedIn, with faster business time to value.”
For managers, processes, and organizations to be truly data driven requires going beyond the hype in the press and siloed master data management processes. The success of consumer data-driven applications—such as LinkedIn and Facebook—has shown that frontline users can easily access, improve, analyze, and sharetheir data in a seamless, unified environment. The problem with traditional process-driven applications such as legacy CRM and ERP systems is that they place the burden of capturing analytical insight, making decisions, and taking action on the business user. To correct that problem and offer other benefits, modern enterprise data-driven applications predict and prescribe what to do next with reliable data, relevant insights, and recommended actions.
“Reltio’s growth in the multi-billion dollar data management market has been truly impressive,” said Chetan Puttagunta, Partner at NEA. “NEA looks to invest in disruptive technologies with large market potential and Reltio has solved an age old conundrum by bringing IT and business teams together, on a multifaceted, agile platform designed for CIOs, powering data-driven applications loved by business users. We’re particularly excited to join a team that is so passionate about guaranteeing reliable data, as it’s undeniably the foundation for data-driven insight and action.”
“The data-driven applications and data management market is exploding and Reltio is poised to play a major role,” said Jim Feuille, partner at Crosslink Capital. “Reltio is the first to put tailored data-driven applications into the hands of business users, with the data management compliance and discipline that IT requires. We look forward to playing a part in helping the company expand its product offerings, market reach and earnings.”
“As an investor focused on data and analytics, we’ve reviewed many companies focused on data management, big data analytics, machine learning and industry applications. While these solutions are incredibly strong, they often struggle to deliver value to the business user because they aren’t a full solution. Reltio Cloud is disrupting these technology silos, by providing an end-to-end platform that incorporates the technologies, data and capabilities to connect raw data directly to business value. When applied as a healthcare and life sciences industry cloud solution, Reltio delivers data-driven applications directly into the hands of these organizations’ Sales, Marketing and Compliance teams to enable them to be right faster, and let their people do their jobs better.”
“Life sciences companies need more than just a 360-degree view of their customers. ZS and Reltio have developed a master data management solution that integrates with Reltio’s platform to offer end-to-end, cloud-based data management and stewardship capabilities, reporting and analytics. From establishing strategy to improving affiliation management, ZS has strengthened data management for over 55 Life Science companies. Our 30+ years of experience and ZS’s own cloud-based business intelligence solution ─ ARTiS ─ complement Reltio’s data-driven applications, forming a unique partnership. Together, ZS and Reltio help clients reduce costs of outdated, time-consuming legacy systems, and unravel complex data hierarchies to better leverage their data for improved customer insights. This can only be accomplished through integrated, modern data management, and analytics that drive faster, smarter decisions.”
“Social, mobile, analytics, and cloud technologies can add a new dimension to businesses and form a new enterprise IT model to deliver an organization that is more connective, collaborative, real-time, and productive. We believe that Reltio represents a modern data management solution that can improve upon MDM capabilities to leapfrog an organization into a new wave of data-driven applications for their business users. Our close partnership allows us to offer the expertise around technology, integration, and an understanding of how data needs to blend together with governance and processes in order to be effective. Together we want to help companies fully realize the value of MDM and their future data management initiatives across the enterprise.”
“Our joint customers value Reltio’s ability to quickly and cost effectively deliver modern data management solutions for emerging life science and mid-market healthcare companies. Often these companies are looking for, and need, a solution that can be implemented quickly and without a large upfront capital expenditure. The Reltio solution meets these needs and allows customers to efficiently manage data to deliver meaningful analytics and well governed application data.”
“Data-driven industry-cloud applications represent the future of software. Reltio’s unique combination of reliable master data, relevant analytical insights and intelligent recommended actions form a modern data management platform Knowledgent can use to address many industry problems. Our partnership will bring joint and integrated benefits to IT and business teams across the enterprise.”
The ability of Reltio to blend and deliver data from LexisNexis, through business user data-driven applications for better understanding of relationships between individual health care practitioners, organizations, and products, offers life sciences companies a more holistic view of their customers and stakeholders.
“Reltio’s data-as-a-service represents a ground breaking new capability in life sciences. Allowing life sciences companies to choose the highest quality data that meets their business needs on demand makes them more efficient. MedPro’s partnership with Reltio gives companies a choice across the best available data sources for maximum competitive advantage.”
“Accurate and up-to-date affiliations between HCPs and HCOs have always been a challenge for life sciences companies. When DarkMatter2BD is integrated into Reltio’s data-as-a-service it opens up a wealth of possibilities with data-driven applications to more efficiently manage important thought leaders.”
Making our HCP preferred email contact data directly available through Reltio Cloud and Reltio data-as-a-service means marketing and sales business teams can have the most accurate and up-to-date email addresses at their fingertips. This is an amazing capability that allows pharmaceutical companies to reach out to their target HCPs at a moments notice.
“Reltio’s innovative use of Apache Cassandra and big data technologies as the foundation for their Commercial Graph allows them to deliver flexibility, agility and scale. It’s no surprise that the Reltio Cloud can handle an infinite number of data types, sources and ultimately business use cases. At DataStax, we believe that companies like Reltio are only scratching the surface of the potential of Cassandra, and we expect the best is yet to come.”