11 Best Master Data Management Tools You Should Consider in 2020
insight
Blog
By: Manish Shewaramani

11 Best Master Data Management Tools You Should Consider in 2020

In this competitive edge, do you think your random strategies will help you in gaining remarkable success?

Of course not.

With each passing day, it becomes difficult for organizations to keep customers engaged with the brand for the long term and empower the business processes. Data is the most reliable and efficient way to stay updated about customers changing requirements and gaps in your internal workflows.

Advanced master data management tools not only manage your structured, unstructured, operational and analytical business data but also enable organizations with actionable insights that help in making the right business decisions.

With a master data management platform, companies can store and manage customer data, employee data, location data, reference data, supplier data, vendor data, and more. This post will help you select the most suitable Master Data Management (MDM) tool for your organization by analyzing the features and benefits offered by the different MDM tools.

Top 11 Master Data Management Tools

#1. Pimcore

Pimcore MDM

Pimcore is an advanced digital platform and has robust Master Data Management capabilities. It allows organizations to manage their product data, customer, data, employee data, asset data, vendor/supplier data, reference data, partner data, location data, and other related information. Pimcore is an open-source platform and available at no licensing fee.

Pimcore MDM allows businesses to store and manage all operational and analytical data in a single place. Skilled Pimcore developers help you to manage your organizational data in one place and enable business with a holistic view of structured or unstructured data.

Key Features:

  • Maintain data quality
  • Hierarchy management
  • Workflow management
  • Rich content integration
  • Audit trail
  • Third-party integration (software, applications, and APIs)

Benefit:

  • Improved time to market (for meeting governance, managing the risks, and addressing the compliance requirements)
  • Accelerated digital transformation
  • Reduced cost (custom MDM development and deployment)

#2. Informatica

 

Informatica MDM

Informatica MDM is a modular and end-to-end solution that connects your systems and information. It provides an accurate, complete and trusted for your digital transformation. The data helps organizations in omnichannel retailing, customer experience programs, supply chain optimization, sales and marketing operations, compliance initiatives, and more.

Key features

  • Data quality
  • Data integration
  • Data security & governance
  • Data acquisition (from 3rd party sources, on-premises & cloud)
  • Data enrichment
  • Data analysis (to identify the relationship patterns and variance among different data)
  • Data deployment (cloud & on-premises)

Benefits

  • A 360-degree view of data relationship
  • A single view of all your business-critical data
  • A complete view of customer’s behavior

#3. Profisee

Prifisee MDM

Profisee is a full-fledge master Data management platform that is available at the lowest cost of ownership compared to its competitive MDM solutions. It contains all the important components, features, and functionality of the best MDM solution. It is a multi-domain MDM platform that allows you to model and manage any reference data and master data domain virtually.

Key Features

  • Data stewardship
  • Data modeling
  • Enterprise workflow
  • Data governance
  • Data integration
  • Golden record management
  • Metadata management
  • Industry data models

Benefits

  • Provides a single and standardized view of all data
  • Highly scalable solution with a great level of performance
  • Zero coding

#4. Ataccama

Ataccama MDM

It’s a data curation platform and provides solutions for data quality and governance, master data management, and data profiling and catalog. Ataccama supports reference data management, multiple domains, hierarchy management, and more.

Key Features

  • Data discovery & profiling
  • Data catalog & business glossary
  • Data quality management
  • Master data management
  • Reference data management
  • Big data processing
  • Data integration
  • Multiple deployment options
  • Collaborative data stewardship
  • Data processing engine

Benefits

  • Multi-domain management
  • Highly scalable solution
  • Contains advanced capabilities of identity management, data matching, and hierarchy management
  • Provides end-to-end data quality activities
  • Robust big data connectivity

#5. Stibo Systems

Stibo Systems

Stibo Systems manages all the operational information about your organization. It’s a multi-domain MDM to manage the data of customers, employee, product, reference, location, and supplier data. They have separate MDM solutions to manage customer and product data.

Key Features

  • Data on-boarding
  • Data sharing
  • Data cleansing
  • Data governance
  • Data enrichment
  • Multi-domain data management

Benefits

  • Improved compliance
  • Time to value
  • Time to market
  • Ensured data quality
  • Deliver personalized experiences

#6. Tibco

Tibco EBX MDM

Tibco EBX is one of the leading Master Data Management tools, designed by Orchestra Networks. It offers varied solutions to organizations to manage their different data assets. The platform provides reference data management, hierarchy management, taxonomy management, multi-domain master data management, and data governance.

Key Features

  • Flexible data models
  • Collaborative workflow
  • Data quality
  • Real-time and batch integration
  • Business user interface
  • Data profiling, matching, cleansing, and validation

Benefits

  • Advanced hierarchy management capabilities
  • Proactive data governance and multi-domain MDM
  • Robust workflow and visualization capability
  • A consolidated platform for master data management, reference data management, and master data governance

#7. SAS

SAS MDM

SAS, an enterprise analytics solutions provider, has developed a robust master data management tool named SAS MDM. It is a multi-domain MDM. It is an end-to-end data management software that mainly focuses on data governance and data quality. The tech giant also provides consulting services for its MDM product.

Key Features

  • Best-in-class data quality
  • Master data repository
  • Enterprise data governance
  • Multiple domain data model
  • Intuitive interface
  • Browser-based stewardship
  • Data resolution and matching
  • Batch and real-time deployment
  • Data stewardship console

Benefits

  • Provide trusted and unified data for use
  • Advanced governance capabilities and reduced the compliance risk
  • Enhanced customer relationship
  • Improved revenue generation
  • A unified view of products, customers, employees, suppliers, and other business entity
  • Make face based and informed decisions

#8. Teradata

Teradata MDM

Teradata is a single platform that supports multiple domains. The master data management tool helps businesses reduce the cost of buying multiple products, solutions, and reference data. To optimize and define master data, the tool relies on a process-driven environment and a workflow.

Key Features

  • Multiple domain management
  • Business user control
  • Enterprise analytical accuracy
  • Comprehensive data consolidation
  • Enterprise agility

Benefits

  • Enterprise data warehouse and reference data management capabilities
  • Multi-entity and multi-domain MDM
  • Supports operational and analytical MDM
  • Data matching engine

#9. Oracle

Oracle MDM

Oracle provides a multiple domain and enterprise-level Master Data Management tool. It helps organizations improve customer experience, reduce risk of compliance, and improve time-to-market. Oracle MDM is a comprehensive platform that provides a consistent, consolidated and authoritative master data across the organizations and distributes relevant information to all analytical and operational applications.
The MDM platform contains five different modules such as product hub, customer hub, supplier hub, site hub, and higher education constitute hub.

Key Features

  • Data quality
  • Data cleansing and standardization
  • Multi-domain data management
  • Customer data management
  • Configurable workflows
  • Data governance

Benefits

  • Advanced capabilities for reference data management
  • Proactive data governance

#10. NetWeaver

SAP NetWeaver MDM

NetWeaver is developed by SAP, a global leader in enterprise application software development. NetWeaver is a master data governance solution that provides domain-specific MDM along with pre-built and collaborative workflows.

Key Features

  • Data cleansing (enrichment, profiling, standardization, and matching
  • Audit trails
  • Role-based user interface
  • Automated routing
  • Pre-configured data models with built-in data governance

Benefits

  • Extensible and pre-configured data models
  • SAP NAHA integration
  • Multi-mode data replication
  • Flexible workflows

#11. InfoSphere

InfoSphere IBM MDM

InfoSphere is one of the renowned master data management tool, developed by IBM. The platform allows you to access orchestration and data governance capabilities of IBM. It manages all your organizational data regardless of any model or system and delivers it to the users in a unified and trusted view.

It enables enterprises with actionable insights, instant business value alignment, rule and policies across the organization, and compliance with governance.

Key Features

  • 360-degree view of critical enterprise data
  • End-to-end Master Data Management solution
  • Allows to extend MDM architecture in the cloud
  • Advanced analytical capabilities
  • Supports virtual or registry style implementations

Benefits

  • MDM on Cloud reduces the overall cost
  • Intuitive and user-friendly interface
  • Provide accurate master data near real-time
  • Data deployment (on-premises, cloud & hosted)
  • Access to new analytical capabilities

Well, there are many other master data management tools available in the market. So, making the right choice might be difficult for you. More options, more confusion. Every Master data management tool has different features and functionality to manage the multi-domain data.

But if you ask, which one is the best out of these 11 Master Data Management platform. We recommend Pimcore as the technology delivers a complete digital experience by offering Product Information Management (PIM), Master Data Management (MDM), Customer Data Platform (CDP), Web Content Management (WCM), Content Management System (CMS), Digital Asset Management (DAM), Digital Commerce Platform (B2C, B2B, B2B2C).

Along with Master Data Management, you can use any or all of the above platforms to complete your digital experience.

Credencys is an end-to-end Pimcore development service [provider and has a team of 20+ Pimcore developers who has successfully delivered next-gen digital solutions to small to large scale organizations of varied industry domains. Connect with us to explore our success stories.

Frequently Asked Questions

What is the purpose of Master Data Management?

Data is considered as the key crux for the organization to get detailed insights about different business aspects and make the right business decisions. Master Data Management is a method to define and manage the business-critical data of an enterprise and integrate it into a single platform to have a single point of reference.

What is a master data management system?

The Master Data Management tool allows organizations to store and manage all the business data in a common point of reference. The MDM platforms allow to integrate different architecture, applications, and platforms as per your growing business requirements.

How many types of master data are there?

There are four types of master data that involve transaction data, log data, master data, and reference data.

What is MDM and why is it important?

A multi-domain master data management tool allows organizations to store and manage all different types of operational and transactional data in a single place. Companies can manage the data of their customer, employee, product, asset, reference, location, and more. It provides a consolidated view of data and synchronizes the information across different yet relevant systems and applications. It provides a reliable and authentic data that drives operational efficiency.



logo
Helping cab companies with solutions for their back-office along with mobile apps for passenger and driver

Cab Bureau

Stay updated with the latest tech-trends and evolving practices in software development with Insights by Credencys

icon-logo

AGILE APPROACH.
EFFICIENT TEAM.
DELIVERING WOW.