Reltio: Providing Reliable Data, Relevant Insights and Recommended Actions
It’s almost a cliché to say that we now drown in data, but we do. When an organization intends to use big data to become smarter and more competitive, the standard approach is to modernize its analytical capabilities. The current environment—from mobile apps to social media and other communications channels that seem to emerge daily—now regularly generates data volumes that far exceed all content officially recorded throughout human history.
A modern analytical application promises to generate more insight and help you spot new market trends faster than before. But finding insights faster than others in the age of big data is not only about implementing a new piece of visualization software – it’s a transformational journey for people and for the entire analytical process. If we think of analytics as the engine that accelerates a smart organization, then data is the fuel that runs the engine.
Companies have traditionally turned to Master Data Management (MDM) to help them blend data from multiple sources and create consolidated master profile views of various data entities. But MDM solutions require complex infrastructure and processes, and lengthy implementations, which means business users wait a long time to get any value and end up using off-the-shelf solutions or spreadsheets, digging for insights in unreliable, stale, and outdated information. This has led many to view MDM as a promise unfulfilled. Enter Reltio, a new leader in data management with a Modern Data Management Platform-as-a-Service in the cloud, built on a foundation of technologies designed for big data scale. Reltio is a privately held company headquartered in Redwood Shores, California. The company’s mission is to help enterprise users ‘Be Right Faster.’
Redefining Master Data Management to Modern Data Management
More data, more types of data, and the need to leverage it all to create more business value ─ those are some of the drivers behind enterprise adoption of master data management platforms. Reltio Cloud pulls in data from all internal, external, third-party and social media sources, including all transactions and omnichannel interactions at big data scale, to provide business users with a complete picture of what’s important to them. Part of its Modern Data Management platform, Reltio Commercial Graph enables business users to uncover many-to-many relationships between people, companies, and products. Through this comprehensive Platform-as-a-Service, enterprises quickly gain access to very rich and reliable data profiles in as few as 12 weeks, compared to legacy tools that can take months or years to deliver results. Today, Reltio Cloud has hundreds of terabytes of enterprise data under management with billions of multi-domain entities and relationships managed in polyglot storage across Apache Cassandra, Apache Spark, graph stores, Elasticsearch, and other technologies. Tens of millions of real-time API calls are made each day, including support for sales and marketing teams accessing data via browser-based UI desktop and mobile business users with real-time synchronization to operational third-party applications, and analytical environments.
But Reltio’s innovative solution doesn’t stop there – once a reliable data foundation is created, Reltio Cloud leverages predictive analytics and machine learning to create relevant insights and recommended actions in context with a user’s specific role, and business goals.
A Passionate Technology Impresario
Manish Sood, CEO and Founder of Reltio is an entrepreneur with a passion for innovation. He co-authored the patent that revolutionized MDM through a global business identifier and served as the primary architect of some of the most widely used data management solutions in use by Fortune 100 companies today. He was previously part of the team that developed Informatica MDM, and now he’s back with the Reltio platform, aggressively taking market share from these legacy incumbents.
Sood founded Reltio in 2011 with the mission to enable companies to “be right faster.” Today, organizations of all sizes, including leading Fortune 500 companies in healthcare and life sciences, media & entertainment, hospitality, distribution and retail, rely on Reltio to provide their teams with a complete view across all information sources to help them understand markets and drive revenue opportunities through actionable, real-time predictive insights.
Awards and Recognition for Reltio’s Innovation
Reltio has been widely recognized by press, industry analysts and insiders for its innovation in data management. Reltio was named a leader in the Forrester Wave™: Master Data Management Q1 2016. Other top industry analysts have noted that Reltio’s innovations are several steps ahead of the market. It has repeatedly been named to the DBTA100 list, which recognizes the companies that matter most in data. IDC also named Reltio one of the 5 top innovators in the Platform-as-a-Service market. Due to its work in healthcare and Life Sciences, Reltio executives are repeatedly recognized as some of the most influential people in those industries.
Although Reltio Cloud is a multi-tenant, Modern Data Management Platform as a Service that’s industry agnostic, a significant number of healthcare and life sciences companies rely on Reltio to manage and provide business-facing, application-level access to sensitive data. Reltio Cloud earned HITRUST CSF Certification status for information security by the Health Information Trust Alliance (HITRUST), underscoring the company’s commitment to keeping data secure for companies in the healthcare and life sciences industries by complying with the most stringent standards.
Envisioning a Data-driven Business Culture
Reltio continues to push the boundaries of what’s possible with Modern Data Management. By leveraging predictive analytics and machine learning to continuously improve data quality and matching for MDM, Reltio truly is simplifying data management, and significantly reducing the arduous data stewarding tasks that are the staple of legacy tools. Other areas where Reltio continues to innovate include collaborative social curation and governance of data, while Reltio’s Data as a Service (DaaS) capabilities fuel an exciting trend coveted by Chief Data Officers to monetize their data.
Reltio Cloud’s Modern Data Management and data-driven applications are fast becoming the gold standard for enterprises which need a modern platform to meet the needs of their dynamic business environments.