Cloud MASTER DATA MANAGEMENT (MDM)
It's about so much more than just master data management (MDM) for CRM or MDM in the cloud
Technology that time forgot
Master Data Management (MDM) as a discipline and technology has been used by enterprises in their quest for a single reliable, high quality 360-degree view of customer or product profiles. Most MDM providers have technology that is over 10 years old. In fact the 2006 Microsoft publication "The What, Why, and How of Master Data Management" still the top Google search result, reflecting a hunger for an understand of the basics.
A comparison of legacy on-premises MDM solutions, such as Informatica MDM (formerly Siperian), IBM InfoSphere, Oracle Customer Hub, Tibco MDM and Talend master data management by a leading analyst firm highlights that there isn't anything new to be excited about. The era of hosted on-premises MDM masquerading as cloud has come and gone, and most cloud MDM vendors today are limited to a single domain (customer), and mostly focused on improving the quality of data in popular SaaS CRM systems.
Implementing a complete multi-domain MDM solution, principally customer and product data has not been easy. Even though some tools claim to universally support both, they are rarely deployed within the same instance, thereby further perpetuating silos of data.
ADDRESSING THE SKILLS GAP
Finding skilled master data management experts who have gone through intensive master data management certification, which could take up to three weeks just to learn the basics, is also cost prohibitive.
Enterprises are re-thinking their data management strategy across the board. Not just for master data, but how they need to accommodate the increasing wealth of information being provided through transactions, interactions and social channels.
SMBs NOW WELCOME
Traditionally, MDM been only affordable for large enterprises with the resources required to take on a multi-year master data management strategy and endeavor. A lengthy initial implementation and ongoing upgrade cost of hardware, software maintenance coupled with the inability to quickly deliver relevant applications to business users has some labeling legacy master data management as a promise unfulfilled.
Companies without means have typically been left wanting, either using CRM systems for their customer master data management tool and system of record, or manually tracking and reconciling data through spreadsheets.
BOLDLY Going beyond MDM
Unfortunately it is still hard for companies to avoid fragmenting data sets into silos and then having to use disparate tools and technologies to stitch together a unified view of information that continues to expand and grow.
Our team at Reltio is very familiar with these issues as we were among the first to deliver some of the most popular master data management solutions over the course of 10+ years when we worked at Siperian, Informatica, Oracle and IBM. Reltio Cloud, which delivers a unique combination of both modern data management and data-driven applications, is a solution that addresses this challenge, with unique functionality designed to take advantage of new opportunities.
- Supports both structured and unstructured data at any volume and scale
- Blends and relates multi-domain master data, reference data, transaction, interaction and social data into a single unified view
- Provides Data as a Service (DaaS) so you can access third party provider data sets through a single click
- Has granular data change tracking history down to attribute point-in-time level comparison for audit and compliance
- Handles complex connections, hierarchies and relationships between multiple domains using graph technology
- Forms a foundation to instantly deploy easy-to-use enterprise data-driven applications to frontline business users
- Doesn't require going to master data management (MDM) university to learn how to use it
- In a short space of time Reltio has gone from a Gartner Cool Vendor in 2014 to a leading provider assessed by the Forrester Wave for MDM Q1 2016