New Report Clears Data Misperceptions and Advises Data Leaders on What to Demand from MDM Solutions
A new independent report from Ventana Research chronicles the evolution of Master Data Management (MDM)and underscores the category’s accelerated transformation over the past two years. Time to Take Another Look at MDMputs MDM hesitancy in context and explains why mastering multi-domain data must be part of your IT strategy for today’s cloud-based business applications. Chief Data Officers, Chief Information Officers, Enterprise Architects, Data Governance Analysts, Data Stewards, Master Data Management Leads, and other data professionals will benefit most from reading this report. Time to Take Another Look at MDM is available to the MDM community and all interested parties courtesy of Reltio.
Key Points:
- Ventana Research advises, “If your understanding of MDM software is even a little bit dated, it’s time to take another look.”
- MDM systems must have cloud-native capabilities because that is where data resides.
- MDM software evolved primarily along two tracks: customer data integration and product information management. Today, multi-domain MDM capabilities are required.
- It is nearly impossible to govern your data properly without MDM software that provides real-time responsiveness that scales with any volume of data.
- AI/ML improve MDM processes.
- Download Time to Take Another Look at MDM for free.
In the report, Ventana Research Senior Vice President and Research Director David Menninger points out that not only are data volumes expanding, but latency requirements are growing more stringent as organizations digitize their business processes. Nearly one-half of organizations surveyed by Ventana Research need to process streaming event data in seconds or sub-seconds. These data points underscore the importance of an MDM platform that delivers real-time performance and has cloud-native scalability.
Time to Take Another Look at MDM also identifies other MDM performance criteria to guide data professionals when evaluating solutions.
Quotes
David Menninger, SVP and Research Director, Ventana Research: “Master data management as a discipline has been around for decades. And MDM software has been evolving over time to help organizations meet their changing data requirements. But if your understanding of MDM software is even a little bit dated, it’s time to take another look. The early days of MDM were not even about MDM software, because applications dedicated to the purpose hadn’t yet evolved. I’m pleased to present this Ventana Research Viewpoint and hope readers get value from it.”
Chas Kielt, Program Director, Customer and Content Marketing: “Master Data Management sometimes has a public image problem. That’s because many vendors locked in customers to on-premises software that changed little over many years and failed to keep up with massive amounts of data – Big Data – from many new sources. Constrained legacy MDM tools – which are still around – could never meet expectations.
“Reltio introduced innovations such as AI/ML to automate formerly manual processes at scale, graph technology to identify relationships among multiple data profiles and domains, and Match IQ for superior data quality. Importantly, we have been cloud-native since inception. That gives our subscribers performance, flexibility and very importantly, autonomy. Reltio is pleased to support Dave Menninger’s research and present a new look at MDM.”
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