Data, as well as the insights gained from it, is the most important powerful to today businesses. In fact, data has become so vital that many companies measure their success based on the quality and the effectiveness of their data.
Due to the fact that the amount of data created and made use increases day by day, companies must prioritize controlling and dealing with that data. That task may involve managing it for cleanliness, accuracy and consistency throughout the company, controlling approach to it and many other activities. Of course, doing this is not easy at all.
Because of this reason, currently many companies start to adopt Master Data Management software to augment and support their data management and quality initiatives. An ideal master data management software can support teams to be successful in terms of data management by bettering business alignment, data governance, data delivery, measurement, arrangement and so on.
When you know the need for master data management software, now you can start to define the best solution for your company. This is also a difficult task as there are a lot of master data management tools on the current market, which may make you feel unknown about what to choose.
In order to help you make decision, this article is going to provide you with the best master data management tools on the market nowadays. This list is going to support you to identify the leading master data management software options and know what each of them provides in terms of strengths, weaknesses, features and reviews. Secondly, it will help you better compare the abilities of those options in only one place as you do not need to find information for each solution on the Google and then open another tab for another tool. You will have chance to understand more about the major abilities of master data management software as well as the efficiency of some certain solutions. What is more, you will be capable of identifying the best use cases for each different software and determining how others are utilizing the different solutions and what they feel about them.
Now let’s take a look at the first option. Profisee is a master data management company of the next generation, whose mission is to innovate data management strategies by offering a convenient master data management platform for the company. In general, the platform provided by Profisee is a full master data management which is made to offer the cheapest cost of ownership in terms of competitive solution, without having to dedicate any function across all important parts of a master data management platform. With a concentration on the business, Profisee offers the first master data management solution which can be approached for business in an economical manner.
Core features of this solution include data modeling, data stewardship, data governance, data integration, record control, workflow, event management, metadata management and industry data models. Regarding strengths, this solution will act as a fast method to value. It also supports integrations in real time with identity resolution and comes with robust golden record management to make sure a single and standardized view of all data. Moreover, it offers proven scalability with consistent levels of high performance. However, there is a lack of PIM capabilities like BOM support and it only operates on Windows or SQL Server. There is no NoSQL database technology such as graph databases.
The next option to consider is Semarchy, which provides multi-vector master data management via its xDM platform. This platform takes advantage of algorithms and material design in order to turn data stewardship and governance into a more collaborative process. Semarchy also takes an iterative approach to adopting its xDM platform.
The major offerings of this data management tool is guided authoring for data maintenance, flexible data modeling, collaboration, data governance, abilities to maintain a single source of truth, multi-vector master data management and device traceability.
While this solution provides integrated modeling while there is no need for extra code and comes with metrics, dashboards as well as versioning as default features, there are minimal relationships with major system integrators and the customer base is less proven.
Orchestra networks EBX
Fenerally, Orchestra Networks provides a wide variety of solutions in order to support companies to well manage their data values through the EBX platform. The EBX platforms comes with multi-domain master data management, reference data management, data governance and taxonomy management.
The major provisions of this data management tool include flexible data modeling, integrated data quality abilities to profile, cleanse, validate and match data, collaborative workflows as well as UI made for business members to take a look at data and the real time integration.
Orchestra networks EBX is good at providing master data management, master data governance and reference data management within only one solution. Moreover, it also delivers robust hierarchy management abilities and comes with strong visualization capabilities.
On the contrary, there are some drawbacks that you may face, including limited user documentation, limited view to product roadmap and complicate configuration process for those who want to get more capabilities.
Reltio is a multi-domain master data management which is based on cloud. It offers serving for both structured and unstructured data while providing a scalable method that can adapt to the demands of smaller companies and businesses.
It major features include blending and relating master data, reference data, transaction data, interaction data and social data into one single view. There are data as a service capabilities in case you want to approach third party data sets. You can gain more big data insights and be advised with actions. Finally, there is already integrated analytics if you go with this option.
Ataccama comes with a collaborative data curation platform which has solutions for data profiling, catalog, data governance, data quality and master data management.
Its solution provides support for a lot of different domains, reference data and hierarchy management and so on.