About Henrik Liliendahl

Data Quality and Master Data Management professional

Our List and the Other Lists

The Disruptive Master Data Management Solutions List is a list of Master Data Management (MDM) and Product Information Management (PIM) solutions.

You can use this list when making a solution provider longlist and shortlist for an MDM and/or PIM solution.

There are other such lists out there – which is good. Many organisations rely on the major analyst firms such as Gartner and Forrester when compiling such lists. So, let’s have a look at how our listed solutions providers are represented in the reports published by these analyst firm.

This walk through is based on a blog post with the title Several Sources of Truth about MDM / PIM Solutions.

  • Reltio is a leader in the Forrester MDM wave and is also included in the Gartner MDM quadrant.
  • Riversand is a strong MDM and PIM performer at the Forrester waves and a visionary in the Gartner MDM quadrant.
  • Semarchy just made a high jump into the Gartner MDM quadrant challenger zone and according to Forrester they have the strongest MDM strategy possible.
  • EnterWorks is a PIM leader and also an MDM leader according to Forrester and is also included in the Gartner MDM quadrant.
  • Magnitude Software has moved up from contender to be a strong performer in the Forrester Wave.
  • Contentserv is a PIM leader on the Forrester wave and is also included in the Gartner MDM quadrant.
  • AllSight has recently been acquired by Informatica, who is an MDM leader both with Forrester and Gartner.

Our other listed solutions are SyncForce, Dynamicweb PIM, Agility Multichannel and Product Data Lake (who is behind this list).

Vendors can register and present themselves on our list.

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Extended MDM Platforms

There is a tendency on the Master Data Management (MDM) market that solutions providers aim to deliver an extended MDM platform to underpin customer experience efforts. Such a platform will not only handle traditional master data, but also reference data, big data (as data lakes) either directly or by linking to the data in there as well as linking to transactions.

The recent acquisition of AllSight by Informatica is an example hereof.

In this context traditional MDM will, supplemented with Reference Data Management (RDM), enable the handling of:

  • Customer, supplier and product identity
  • Customer, supplier and product hierarchies
  • Customer, supplier and product locations

Additionally, the data lake concept can be used for:

Extended MDM Platforms

What is your view: Should MDM solution providers stick to traditional master data or should they strive to encompass other kinds of data too?

Artificial Intelligence (AI) and Master Data Management (MDM)

One of the hottest topics in the Master Data Management (MDM) realm right now is how Artificial Intelligence (AI), Machine Learning (ML) and Master Data Management stick together.

The MDM platform vendors are thus also busy with promoting the AI and ML capabilities within their offerings.

Some examples are:

Reltio: The Reltio page on AI, ML and Deep Learning (DL) focusses on two main scenarios:

  • Continuously improving consistency, accuracy, and manageability for better data quality (DQ), uncovering patterns, anomaly detection and streamlining data-driven jobs.
  • Using data-driven applications to enable a seamless foundation for the generation of relevant insights and contextual recommended actions.

Riversand: In a post called Cloud multi-domain MDM as the foundation for Digital Transformation Riversand CEO Upen Veranasi emphasized that enterprises want to better understand their customers (utilizing customer insights through AI), create/sell products and services that meet and exceed customer expectations (product positioning through AI), meet their customers across all touch points (channel management), secure their customer’s information (privacy), and interact with trading partners to creating cutting edge product differentiation (cloud and AI).

Enterworks: In a recent Enterworks product announcement it was stressed that “future proofing” investments mean that core data management hubs can provide the data to harness the advances in other technologies, such as AI and machine learning.

Artificial Intelligence is also a frequent topic on MDM conferences around. The MDM Summit Europe 2019 in London is no exception with multiple sessions touching on the connection between AI and MDM – with the presentation from yours truly as an example. You can view the entire agenda for this event here.

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4 MDM Definitions: Which One is the Best?

What is Master Data Management (MDM)? How can we define MDM?

Well, as with everything in life there are varying and competing definitions. Below you can find 4 different definitions:

Wikipedia: In business, Master data management (MDM) is a method used to define and manage the critical data of an organization to provide, with data integration, a single point of reference. In computing, a master data management tool can be used to support master data management by removing duplicates, standardizing data (mass maintaining), and incorporating rules to eliminate incorrect data from entering the system in order to create an authoritative source of master data. Master data are the products, accounts and parties for which the business transactions are completed.

MDM Wordle

Gartner: Master data management (MDM) is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the enterprise’s official shared master data assets. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies and chart of accounts.

SearchDataManagement: Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to a common point of reference. When properly done, MDM improves data quality, while streamlining data sharing across personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platforms and applications.

Techopedia: Master data management (MDM) refers to the management of specific key data assets for a business or enterprise. MDM is part data management as a whole but is generally focused on the handling of higher level data elements, such as broader identity classifications of people, things, places and concepts.

Your definition: Which one of the four above-mentioned definitions do you prefer? Or is there a much better fifth one?

Multienterprise MDM

One of the terms on the move on the Gartner Hype Cycle for Information Governance and Master Data Management is Multienterprise MDM.

Doing Master Data Management (MDM) enterprise wide is hard enough. The ability to control master data across your organization is essential to enable digitalization initiatives and ensure the competitiveness of your organization in the future.

But it does not stop there. Increasingly every organization will be an integrated part of a business ecosystem where collaboration with business partners will be a part of digitalization and thus we will have a need for working on the same foundation around master data.

The different master data domains will have different roles to play in such endeavors. Party master will be shared in some degree but there are both competitive factors, data protection and privacy factors to be observed as well.

MDM Ecosystem

Product master data – or product information if you like – is an obvious master data domain where you can gain business benefits from extending master data management to be ecosystem wide. This includes:

  • Working with the same product classifications or being able to continuously map between different classifications used by trading partners
  • Utilizing the same attribute definitions (metadata around products) or being able to continuously map between different attribute taxonomies in use by trading partners
  • Sharing data on product relationships (available accessories, relevant spare parts, updated succession for products, cross-sell information and up-sell opportunities)
  • Having access to latest versions of digital assets (text, audio, video) associated with products

The concept of ecosystem wide Multi-Domain MDM is explored further is the article about Master Data Share.