As the pace of digital transformation continues to accelerate, organizations are leaning into the profound benefits of Artificial Intelligence (AI) and Machine Learning (ML) to maximize the value of their data. That’s why I’m pleased to share that Reltio continues to lead the industry by integrating deeper AI/ML capabilities into our platform to help our customers put their data into action.
As a cloud-native master data management (MDM) platform leader, driving innovation in data management for more than a decade, Reltio’s commitment to innovation is demonstrated with our latest rollout - the Reltio Connected Data Platform 2023.2 release, an industry-first offering powered by AI/ML. This step marks a significant move towards enhancing data quality, making it more precise, scalable, faster, and less resource-intensive.
AI/ML Heralds New Opportunities for Data Management
Recent advancements in AI/ML, brought into prominence by ChatGPT, present a considerable opportunity for Reltio to enhance further master data management (MDM) features, including entity resolution and data quality. Reltio's use of AI/ML places it at the vanguard of the data management landscape. Incorporating ML into Reltio’s data management platforms amplifies accuracy, efficiency, and overall value, delivering enhanced data quality and reliable outputs.
One of the critical areas where Reltio's AI/ML investments promise to pay dividends is entity resolution, one of the most complex challenges in MDM. This process involves identifying and reconciling records from different systems across an enterprise into a single entity for use across business processes.
Our 2023.2 release focuses on entity resolution, featuring an industry-first innovation: pre-trained industry and domain-specific ML models. As application proliferation surges, unifying data across siloed sources has become increasingly challenging. Reltio's unique solution provides high-quality matching recommendations out-of-the-box, reducing the time and cost previously required.
Optimized Entity Resolution That Offers Immediate Value
Unlike other solutions that require substantial manual effort before ML recommendations are effective, Reltio's entity resolution capability offers instant value by incorporating over a decade of industry-specific match/merge best practices. With the implementation of velocity packs, industry domain-specific ML models are enabled, making it easier for data stewards to review and consolidate matches, which yields high-quality data, and enhances data management efficiency. This release includes this advanced ML-based entity resolution in the Reltio for Life Sciences velocity pack– available as part of an early access program.
Below is a brief overview of some of the key 2023.2 updates:
- Velocity pack enhancements: We added new data domains and updated existing domain data models in our preconfigured velocity packs for Healthcare and Life Sciences.
- Reltio Databricks Delta Lake Connector: We simplified data transfer from the Reltio platform to Databricks Delta Lake with the new Reltio Databricks Delta Lake Connector. Our customers can improve ML model performance and analytics insights by using real-time highly-curated data from Reltio and increase data team productivity by reducing data preparation time. In addition, using auditable, well-governed high-quality data supports ML transparency and builds trust. The Databricks Delta Lake Connector is available in early access with this release.
- Automated householding: This entity grouping capability eliminates painful manual effort and costly customizations to group customers into households. With automated householding, customers increase data team productivity and can improve cross-sell campaign success and customer experience. Data stewards can simply define match rules and then Reltio will automatically group customers into household relationships accordingly—no manual effort or custom IT projects required.
- Pre-trained ML models: these models are fast and easy to configure, require less domain expertise and maintenance, and are more accurate. This is an early access program.
- Azure in EU: We're expanding our footprint in the MS Azure Cloud by introducing the Reltio Azure Platform in Ireland (EU). Customers can experience Reltio's performance, scalability, seamless integration, and advanced security and meet EU data sovereignty and compliance requirements on our Azure platform.
Recognized as a Market Leader
With the Reltio Connected Data Platform Version 2023.2, Reltio further solidifies its commitment to driving innovation for our customers. The new features of our SaaS multi-domain MDM platform accelerate MDM implementations, strengthen its data unification capabilities, and enhance performance and reliability. We see that our continuous innovations and trailblazing strategy have been recognized by industry analysts.
Forrester Research, Inc. recently named Reltio as a Leader in The Forrester Wave™: Master Data Management, Q2 2023. The report states, “Reltio’s real-time AI-driven MDM delivers exceptional data quality and customer 360.” As the highest-ranked vendor in the Strategy category, Reltio was given the highest possible scores in 4 out of the 6 criteria within this category, including Vision, Innovation, Roadmap, and Adoption.
Reltio's journey continues to push the boundaries of data management, cementing its crucial role in harnessing AI/ML to further streamline and quicken the pace of data management solutions. Our emphasis on AI/ML represents an investment not just in technology but in the long-term success of our customers, ensuring they remain at the cutting edge and at the forefront of their respective industries.