As 2014 draws to a close, I can’t help but reflect on how fortunate Reltio has been. We’ve been blessed with the confidence entrusted to us by customer and partners alike. From multi-billion dollar enterprises to emerging startups who rely on us to help them improve the reliability of their data and deliver relevant information to their business teams, to partners who view us as a key part of their future strategy.
We have developed friendships with both IT and business teams. Through our belief that all stakeholders in the information chain must collaborate together to enrich data. Along the way, we have been selected over a wide variety of excellent products, all with their merits but each missing elements that made them unable to meet the needs of our customers and partners.
Reltio was founded upon the belief that organizations need reliable, relevant access to information at their fingertips. Turning their data into information and knowledge assets in the most efficient way. Shattering the traditional notion that IT must combine multiple technologies to manage different types of data, and that business users must purchase standalone tools to do their own analysis.
Reltio manages all data types including multi-domain master data, transaction and interaction data, third party, public and social data. Data is fused into a new breed of data-driven applications that business teams love to use every day. We pride ourselves in helping enterprises obtain a complete understanding of their business, by combining operational and analytical silos so teams can continuously collaborate to improve the reliability of information. They receive recommendations relevant to their goals and can take immediate action, all within the same application. This occurs in a closed-loop cycle that continuously assesses and publishes outcomes to demonstrate value and refine recommendations for better results.
Here’s how we were compared to many of the tools and technologies we encountered in 2014:
- Master Data Management Only Tools – MDM tools who have been around for 10+ years such as Informatica MDM (formerly Siperian) and even a new breed of cloud MDM offerings continue to see Master Data Management as a separate siloed discipline, requiring complex IT infrastructure, processes, leading to months and years of design and implementation, before “quality” data can be made available to business users. Often the delivery latency of the information leads to stale data. Meanwhile outside of the MDM framework, business users generally have access to new and often better insights, with more up to date information. Unfortunately they are unable to provide this feedback through existing MDM tools in a collaborative and controlled manner, effectively wasting valuable intelligence and competitive advantage. Business and IT teams share a frustration that precise accountability of the investment made in MDM infrastructure and business outcomes has not been realized.
- BI and Analytics Tools – Powerful and sophisticated visualization tools empower certain business users to get faster access to information on their own. Self service management and convergence of data at scale from multiple sources is possible, however the data is not guaranteed to be clean and accurate prior to analysis. Looking at data that may be incorrect, can lead to wrong conclusions faster. Many of these tools are designed for “non-data scientist” use, but they are still beyond the skill or patience of field teams to use in the context of their day-to-day operations. More importantly, these tools still require action to be taken in separate siloed operational applications, and they have no means to automatically correlate the results of actions back to the analysis performed.
- Horizontal Packaged Business Applications – Applications such as CRM, ERP, HR and financials are widely adopted by many enterprise for core business processes to run their business. However the legacy design and process driven nature of these applications are holding the company back. Many end-users question why in the age of Facebook and LinkedIn, they are still stuck with manual data entry, jumping between applications to get the complete view they need, and having to sift through complex patterns of information. The next wave of competitive advantage comes from enterprises being able to deliver data-driven applications to every single one of their employees, with relevant insights and recommended actions specific to their industry, use case and job.
- Big Data Infrastructure and Tools – Hadoop, HBase, Cassandra, Graph Databases, MapReduce, Spark and the continuous stream of new technologies designed to handle ever increasing volume, variety and velocity, have changed the way data can and should be managed. However stitching together all of the pieces together such as the concepts of mastering data, relationship discovery, and other disciplines, and genericizing it in a complete end-to-end platform to meet the business needs across an enterprise is a multi-year endeavor. Not all enterprises have the resources to “build” from scratch and to continuously keep up with an evolving landscape, which means ongoing maintenance, integration and testing.
Thank you again to everyone who we’ve worked with in 2014, and for those we’ve not yet had the opportunity to meet, we hope to be able to share our experiences with you in 2015. Please enjoy the short holiday video below.