I am delighted to welcome Riversand as the next disruptive MDM / PIM / DAM solution on The Disruptive Master Data Management Solutions list.
As a European MDM and PIM (Product Information Management) practitioner I have followed Riversand’s growing presence on the European scene both through being on the customer side in solution selection activities, on conferences and on the social media community and I have watched that MDM / PIM peers as Mark Thorpe and Ben Rund have joined the company.
Riversand is in a very exciting development with a recent funding that is used to accelerate Riversand’s global expansion and for further investment in its disruptive MDM platform. See how Riversand presents themselves on The Disruptive MDM List here.
Sometimes keeping it simple is the shortcut to getting it all wrong. While I am a believer in mastering all master data domains under the same vision and strategy, there are still best-in-class options when it comes to orchestrating processes and applying technology in the right chunks.
Customer Data Integration (CDI)
A recent post on this blog was called What Happened to CDI? This post examines the two overlapping disciplines Master Data Management (MDM) and Customer Data Integration (CDI). In a comment Jeff Jones argues that MDM vendors have forgotten about proper CDI workflows. Jeff says: “It seems the industry wants to go from Source to Match/Merge, instead of Source to Match/Identify and finally to Merge.” Please find and jump into the discussion here.
Also, this question was touched some years ago in the post The Place for Data Matching in and around MDM.
Product Information Management (PIM)
The product domain within Multi-Domain MDM also holds some risks of forgetting the proper ways of handling product information. In this domain we must also avoid being blinded by the promise of a single source of master data with surrounding processes and applied technology.
There are many end-to-ends to cover properly as exemplified in the post A Different End-to-End Solution for Product Information Management (PIM).
The latest Gartner Magic Quadrant for Master Data Management Solutions was published a month ago as touched in the post Disruptive Forces in MDM Land.
In the section about IBM, there were this note: “IBM declined to participate in this research and did not supply supplemental information. Gartner’s analysis is therefore based on other credible sources, including previous research input from IBM, customer inquiries, Peer Insights reviews submitted during the period covered by this research and other publicly available information.”
My guess is that Gartner and IBM already had a bad relation around the previous report which led to that this report was delayed a couple of months as told in the post Gartner MDM Magic Quadrant in Overtime.
Today Nancy Hensley of IBM published a post called Understanding the new Gartner MDM Magic Quadrant and the IBM position. In here Nancy explains that IBM chose not to participate because IBM has a different point of view on where the MDM marketplace is going. In other words: The Gartner MDM market view is old school.
Perhaps magic quadrants, and analyst reports in general, are old school then. Perhaps the new school is that IBM and all the other vendors explain themselves – and can be reviewed by the (professional) crowd. Well, this is the idea behind The Disruptive MDM List.
CDI is a Three Letter Acronym which in the data management world stands for Customer Data Integration.
Today CDI is usually wrapped into Master Data Management (MDM) as examined in the post CDI, PIM, MDM and Beyond. As mentioned in this post, a well-known analyst, Aaron Zornes, runs a business called the MDM Institute, which was originally called the The Customer Data Integration Institute and still has this website: http://www.tcdii.com/.
Many Master Data Management (MDM) vendors today emphasizes on being multidomain, meaning their solutions can manage customer, supplier employee and other party master data as well as product, asset, location and other core business entity types.
However, some vendors still focus on customer master data and the topic of integrating customer data by excelling in the special pain points here, not at least identity resolution and sustainable merge/purge of duplicates. One example is Uniserv Smart Customer MDM.
In my recent little venture called The Disruptive Master Data Management Solution List the aim is to cover all kinds of MDM solutions: Small or big. New (start-up) or old. Multidomain MDM, Customer Data Integration (CDI), Product Information Management (PIM) or even Digital Asset Management (DAM). As a potential buyer, you can browse all these solutions and select your choice of one-stop-shopping candidates or combine best-of-breed solution candidates that matches your requirements in your industry and geography.
First thing that must happen is that vendors register their solutions on the site here.
I am happy to welcome Stibo Systems and their STEP platform as the next disruptive Master Data Management Solution on the disruptive MDM list. You can learn more about, and review, Stibo Systems STEP here.
My first encounter with Stibo Systems was 7 years ago when I started an engagement there taking part in the first steps in transforming Stibo Systems from a Product Master Data Management / Product Information Management (PIM) vendor to a multi-domain MDM vendor.
Since then I worked for some of Stibo Systems clients with implementing the STEP solution.
During both engagements types I learned how a robust but still extremely flexible MDM solution STEP is and also came to know the very professional staff at Stibo Systems. You can see them below:
A recurrent theme on this blog is the way organizations should handle party master data management as examined in the post What is Best Practice: Customer- and Vendor- or Unified Party Master Data Management?
What I advise my clients to do, is to have a common party (or business partner) structure for identification, names, addresses and contact data. This should be supported by data quality capabilities strongly build on external reference data (third party data). Besides this common structure, there should be specific structures for customer, vendor/supplier and other party roles.
This week I attended the MDM event arranged by Marcus Evans in Barcelona. The presentation by Udo Couto Klütz of the industrial giant Robert Bosch highlighted the clever way of handling customer master data, by having a partner master data concept.
At Bosch they have reached the conclusion, that unified partner master data management is the way to achieve:
- A single source of truth
- Standardized processes
- Worldwide applicability
- One compliance standard
- Increased efficiency
I absolutely agree.
I am happy to welcome Semarchy xDM as the first disruptive Master Data Management Solution on the disruptive MDM list. You can learn more about, and review, Semarchy xDM here.
Semarchy has been a part of developing Product Data Lake, as the first prototype of this service was made using the Semarchy platform. I owe Salah Kamel, the Semarchy CEO, big thanks for his support in doing that.
By making that prototype, I can confirm that Semarchy caters for a fast track, when it comes to setting up a Master Data Management solution.