As your business grows, it becomes more and more challenging to keep track of all your data. This is where a Master Data Management (MDM) solution comes in. MDM solutions provide a 360-degree view of your business’s data, allowing you to make sound, informed decisions.
There are a lot of different MDM solutions on the market, so it can be tough to know which one is right for your business. To help you out, we’ve put together a list of 6 different MDM solutions and their key features.
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When discussing the best master data management software on the market, you must mention Profisee. One of the critical features of Profisee is that it offers a multi-domain master data platform. This means it can manage multiple data types—customer, product, supplier, etc.—all in one place. Profisee is the industry’s first cloud-native containerized Platform-as-a-Service (PaaS), designed specifically for use in the cloud.
- Golden Record Management
- Data governance, integration, and modeling
- Perfect for Microsoft-centric business
- NoSQL database tech not leveraged
- Partner ecosystem is lacking
- Only runs on Windows/SQL
SAP Master Data Governance
SAP Master Data Governance is a cloud platform that helps you create and maintain a single, accurate, and up-to-date view of your critical data. It offers a wide range of features, including data quality management, data integration, and data modeling.
- Built with SAP HANA
- Data quality management
- Flexible deployment options
- UI is not as intuitive
- Hierarchy management is less advanced
- CRM data analytics support lacking
Informatica Master Data Management
Informatica MDM is an enterprise cloud MDM tool that helps you manage your critical data. It allows you to take control of your data to make better business decisions. Informatica’s master data management tool is made for more experienced users.
- Highly scalable
- Multiple deployment options
- Less focus on data governance
- UI may be hard to grasp
- Implementation can be complex
Reltio is a cloud-based master data management solution that offers a 360-degree view of your organization’s data. It also provides data auditing and change tracking, so you always know what’s going on with your information. There is also a collaboration feature for data stewardship.
- Compliance capabilities are advanced
- Data visualization & analytics
- Collaboration features
- Fairly new, so it’s still developing
- Customization is extensive
- Limited reviews, references, and documentation
Talend Customer 360
Talend offers this program to give users an integrated view of all their customer data, no matter where it’s coming from. It includes features like data schemas for easy visual access to your information and data connectors so you can organize your data how you see fit.
- Program spans across many users/roles
- Affordable compared to other tools
- Large customer base
- Cloud services are relatively new
- UI is not intuitive
- No UI customization
Magnitude Agility PIM
If you’re looking for an MDM solution heavy on product data, you should check out Magnitude Agility PIM. It’s built for commerce organizations and can help you manage your product information across multiple channels.
- UI is easy to understand
- Customer support is comprehensive
- Large array of integration
- Scalability is limited
- May not be helpful for organizations outside of commerce
- Integrator relationships are minimal
Choosing The Right Tool
When it comes to choosing the right MDM program for your needs, it can be a daunting task. There are so many different options on the market, each with its own features and benefits. So how do you decide which one is right for you?
Here are a few tips:
1. Consider your business size and needs.
Not all MDM programs are created equal; some are better suited for larger businesses than others. Make sure to choose a program that can handle the amount of data you have and that has the features you need.
2. Think about your budget.
Most MDM programs are not cheap, but some affordable options are available. Make sure to choose a program that fits within your budget constraints.
3. Consider your skill level.
Not all MDM programs are easy to use; some require more expertise than others. Choose a program that is user-friendly and has a low learning curve.
4. Think about your team’s needs.
Some MDM programs offer features like collaboration and data governance that can be helpful for certain units within your organization. Make sure to choose a program that meets your team’s needs.
Master Data Management solutions are critical for businesses that want to maintain a single, accurate view of their data. These solutions help companies to make better decisions by providing a 360-degree view of information. When choosing an MDM solution, it’s essential to consider your business needs and objectives. The six solutions listed above are some of the best on the market and each has its own unique set of features and capabilities.