The 2 Major Players in Master Data Management Solutions, 2020
These providers have recently been named major players in master data management solutions for 2020 by analyst house Gartner, Inc.
Master data management solutions come in a variety of shapes and sizes to meet the ever-changing needs of organizations and their increasingly complex environments. Enterprises require master data management solutions that can serve a number of different use cases like mastering customer, institution, product or critical object data. There are both small and large providers that offer software to help these companies with both niche and common challenges, though choosing the vendor(s) that are right for your specific environment can be a daunting task.
The following providers have recently been named leaders in the 2020 Gartner Magic Quadrant for Master Data Management Solutions. The report, which highlights and scores the top products in the industry, features these two tools as being cornerstones in the space. Each provider’s market share and product portfolios differ, which is what makes them interesting to the wider audience of data consumers. Niche and emerging vendors can only hope to replicate the kind of market presence that these providers have earned over a sustained period of time. Here we provide a brief blurb about each and links to product details so you can learn more.
Informatica offers a modular MDM solution that provides a single view of data. The product enables users to create an authoritative view of business-critical data from disparate, duplicate and conflicting sources. Informatica MDM also features AI and machine learning, and includes data quality, data integration, business process management, and data security functionality that allows you to easily enrich master data records with data from external providers. Informatica’s MDM capabilities can be deployed on-prem or in the cloud.
TIBCO Software offers its MDM capabilities via TIBCO EBX, a single solution that manages workflow, data quality, and role-specific applications. EBX is designed with different user personas in mind by providing self-service so all individuals so they can manage, govern, and consume key data assets. Customers can model any master data (including relationships between domains) without buying separate tools. This means that you can put any domain of master or reference data inside. EBX works with SAP, BCP, TM1, and OneStream.
Master Data Management Solutions – Honorable Mentions
Master data management solutions vendors included in this space are a stone’s throw away from attaining leadership status in the Gartner Magic Quadrant.
Riversand offers MDM and product information management (PIM) solutions. Its MDM offering features a multi-domain core designed to provide a complete view of enterprise data. In addition, Riversand includes high-scale computing, a set of streamlined collaboration tools, and data governance functionality. Reporting via the vendor’s data visualization product is included with each license and offers users the ability to run advanced analysis via charts, tables, and dashboards.
Semarchy offers a master data management solution called xDM. The product utilizes machine learning algorithms to enable stewardship and advanced matching, survivorship, curation, and classification. The tool features a native data model that facilitates transparent lineage, audibility, and governance as well. xDM can integrate any data source via real-time and batch APIs to integrate the data hub with existing applications and business processes. Semarchy offers a 30-day license key free trial of xDM for on-prem and cloud.
SAP offers enterprise MDM functionality through its SAP Master Data Governance product. The solution can be deployed on-prem or in the cloud and enables users to consolidate and centrally govern master data. SAP includes support for all master data domains and implementation styles, pre-built data models, business rules, workflow, and user interfaces. Master Data Governance also lets you define, validate, and monitor your established business rules to confirm master data readiness and analyze the performance of data management.