Over at the sister site, The Disruptive MDM / PIM List, there are some blog posts that are interviews with some of the people behind some of the most successful Master Data Management (MDM) and Product Information Management (PIM) tools.
If you are a merchant (retailer or a B2B dealer) of tangible goods a huge challenge in today’s data driven world is the get complete product information from your suppliers being the importers, brand owners and/or manufacturers of the products.
There are plenty of bad ways of trying to do that:
Send them a spreadsheet to be filled in
Build a supplier portal where they can do the work
Get the data from a data pool
Outsource the collection process to someone far away
In the Master Data Management (MDM) and Product Information Management (PIM) space there are some analyst market reports with vendor rankings used by organizations when doing a tool selection project.
These reports are based on the analyst’s survey at their customers and perhaps other end user organizations as well as the analysts research in corporation with the solution vendor. However, sometimes the latter part does not happen.
Another example is the Forrester and Informatica dysfunctional relationship. In the Forrester 2019 MDM Wave it is stated that “Informatica declined to participate in our research”. This was also apparent in the Forrester 2018 PIM Wave where Forrester’s placement of Informatica as a Germany-based vendor didn’t reflect movements (and perhaps achievements) since 2012 as told in the post MDM Alternative Facts.
Both Gartner and Forrester have though positioned IBM and Informatica in their plot with the note that the research did not include interaction with the vendor.
This challenge is a bit close to me as I am running a list of MDM / PIM / DQM vendors where there now also is a ranking service based on individual context, scope and requirements. Here I have chosen to include vendor solutions on the three above analyst reports and the list itself as noted in select your solution step 4.
Tony continues: “The investment in master data within ecosystems is going to increase dramatically. People are going to realise that most of the waste that happens is at the seams of large organisations – not having a common language between the accounts payable of one company and the accounts receivable of another company means both companies are wasting resources and money.”
This way of looking at MDM as something that goes beyond each organization and evolves to be ecosystem wide is also called Multienterprise MDM.
The Disruptive MDM / PIM List is list of solutions in the Master Data Management (MDM), Product Information Management (PIM) and Data Quality Management (DQM) space.
The list presents both larger solutions that also is included by the analyst firms in their market reports and smaller solutions you do not hear so much about, but may be exactly the solution that addresses the specific challenges you have.
The latest entry on the list, Reifier, is one of the latter ones.
Matching data records and identifying duplicates in order to achieve a 360-degree view of customers and other master data entities is the most frequently mentioned data quality issue. Reifier is an artificial intelligence (AI) driven solution that tackles that problem.
So, no organization can just pick the solution positioned in the top right corner at their favourite analyst firm, neither make a shortlist with the solutions being most top-right or even a longlist with the well positioned solutions. They will need own research or consultancy from the report makers or consultancy firms – or yours truly.
Well, until now.
At The Disruptive MDM / PIM List there is a new service that, based on information about your context, scope and requirements, will provide a solution list that is fit for you.
Today it was announced that Syncsort acquires Pitney Bowes Software Solutions. In the announcement it is said that “The acquisition, Syncsort’s largest ever, brings to the company best-in-class location intelligence, data enrichment, customer information management and customer engagement solutions that are highly complementary to its existing portfolio”.
Will be exciting to see how long Syncsort will move into the data management space. Will Syncsort stay with name and address data quality and customer data or will they, as many other vendors on the market, move towards a multidomain MDM and more comprehensive data management offering?
This blog has a sister site called The Disruptive MDM / PIM List.
The site is a list of available solutions for:
Master Data Management (MDM) and
Product Information Management (PIM)
as well as:
Application Data Management (ADM) – kind of NEW,
Customer Data Integration (CDI),
Customer Data Platform (CDP),
Data Quality Management (DQM) – NEW on the list,
Digital Asset Management (DAM),
Product Data Syndication (PDS),
Product experience Management (PxM) and
Reference Data Management (RDM) – NEW.
You can use this site as an addition to the likes of Gartner, Forrester, MDM Institute and others when selecting your new MDM, PIM and data quality solution, not at least because this site will include both larger and smaller disruptive solutions.