Master Data Management (MDM) Software
Master Data Management (MDM) Software Overview
What is Master Data Management (MDM) Software?
Master data management (MDM) software provides a way of managing all critical data from multiple applications in the organization. It does this by linking to a universal or master data file.
The master data file is the single point of reference for all critical data flowing through the enterprise. Master data is usually concerned with the most critical entities like people (customers and employees), things (products, parts, assets), places (office locations and divisions), and concepts (warranties, contracts, licenses).
MDM Features & Capabilities
Integrations and data connectivity
Data management with match and source reviews
Data standardization (cleansing, merging)
Workflow and governance
Audit and compliance tools
Support for data-as-a-service
Problems solved by MDM
The crucial problem that MDM solves is that, in large organizations, the above entities are likely to be stored in multiple different databases. The problem then becomes that, for example, the same customer is listed with three different addresses and different phone numbers.
Without an MDM system, none of these customer records has primacy over the others.
When the MDM is being built, attention is paid to normalizing data formats, inserting missing data elements, standardizing value formats and mapping attributes. Maintenance of the MDM is an essential task and employees must be taught data formatting rules. The MDM must also be frequently updated and maintained to keep it up to date.
MDM software is enterprise-grade software typically sold by the big enterprise software vendors like SAP, Oracle, and IBM. Like all enterprise software, this can be very expensive. Traditionally, this software has been sold as on-premise software but is now usually available as a cloud offering too.
Large-scale cloud MDM pricing can range from $15,000 per month to over $50,000 per month. However, there are cheaper less fully-featured alternatives, along with some open-source solutions.
Master Data Management (MDM) Products
Winshuttle enables the building and adaptation of Excel and SharePoint-based interactive forms and workflows for SAP without programming.
IBM InfoSphere is an enterprise grade master data management solution used by over 700 customers. It competes with Oracle's Siebel UCM product and Informatica.
Informatica Cloud MDM is a master data management solution for Salesforce data.
SAP NetWeaver MDM is based upon technology from the A2i acquisition in 2004. This is a comprehensive master data management suite and competes with IBM InfoSphere, Oracle Siebel UCM, Informatica, and Tibco.
Stibo STEP MDM, from Denmark software company Stibo Systems, is a master data management solution.
SAS DataFlux's capabilities handle data profiling, matching, cleansing and monitoring. Capabilities are available as individual products or as a platform. DataFlux competes with Informatica, Trilliium, Ataccama, and SAP Data Quality Management.
Informatica MDM is an enterprise master data management solution that competes directly with IBM's InfoSphere and Oracle's Siebel UCM product. The product has about 200 licensed users.
Kalido MDM is a master data management platform from Magnitude Software in Austin, Texas (formerly Kalido, rebranded after that company's merger with Noetix).
Riversand MDMCenter is a master data management platform from Houston, Texas based software company Riversand Technologies.
Reltio MDM is, as the name suggests, a master data management platform from California based software company Reltio.
The iWay Parallel Service Manager is a data integration solution from Information Builders.
Usermind aims to help companies define and automate all phases of their customer life cycles to increase revenue, retention and profitability. Built for non-developers, Usermind provides a unified platform to integrate enterprise applications, map data between them, automate end-to-end processes,...
Oracle Siebel Universal Customer Market Applications is an enterprise data management product and has over 1,500 licensed users. The product competes directly with IBM's InfoSphere offering
Terarada's Aprimo MDM product is somewhat less broadly used than competitive products because it is primarily designed to manage data for the Teradata technology platform.
webMethods OneData is a master data management solution from Software AG gained when that company acquired original developer Data Foundations.
Multivue is a master data management platform from Scottish software company VisionWare, in Glasgow.
Prospecta Master Data Online (MDO) is a web-based tool that manages the governance and standardization of all types of master data across the user’s business. It allows business users to create information with standardized business rules, workflows and approval processes. MDO is available both...
InfoSphere Master Data Management (or InfoSphere MDM) is, as the name would suggest, a master data management platform from IBM.
Initiate Systems was acquired by IBM in 2010, their master data management platform became IBM Initiate.
The EBX Platform from French company Orchestra Networks is a master data management platform.
Clear Analytics is a business intelligence solution that enables non technical end users to perform analytics by leveraging existing knowledge of Excel coupled with a built in query builder. Some key features include: Dynamic Data Refresh, Data Share and In-Excel Collaboration.
DATUM's Information Value Management® is designed to help organizations to manage their data. According to the vendor, their solution’s methodology advocates a business-first, top-down approach while also understanding that data governance initiatives must be actionable in a traditional IT,...
Enterprise Explorer is designed to offer a simple and intuitive way for professional business process modeling on Microsoft platforms. Enterprise Explorer transforms an individual Visio® workplace into a powerful multi-user platform operating on a basis of centralized process repository, which...
StarDQ is a real time solution for cleansing, de-duping, and enriching enterprise data. By integrating StarDQ Solution, organizations can cleanse, match and unify data across multiple data sources and data domains. According to the vendor, the goal is to ensure that data is a...