Master Data Management is the set of the technology, tools, and processes that ensure master data is coordinated across a company. It grants business users to create the information easily with standardized business rules, workflows and approval processes, enable an enterprise to link all the critical data into one file, which is called a master file that provides a common point of reference.
When you have the right backup software or cloud storage, your company becomes more effective and has everything as a unified service with the possibility to use and have multiple data levels. When you have a Master Data Management we are looking to eliminate duplicated data, manage location data, establish efficient data privacy policies and processes, monitor the integrity of your source systems, feed exact data into each your systems, introduce Business rules, automate a variety of resource-demanding tasks and more.
Gartner MDM Magic Quadrant
Gartner.com is a leading research and advisory company that provides senior leaders across the enterprise with the indispensable business insights, advice, and tools they need to achieve their mission-critical priorities and build the organizations of tomorrow. They equip executives across the enterprise to make the right decisions and stay ahead of change. Gartner is a trusted advisor and an objective resource for more than 15,600 organizations in 100+ countries.
2018 Magic Quadrant evaluated solutions from 14 vendors to help data and analytics leaders find the most appropriate solution for their organization. The evaluation was based on the inclusion and exclusion criteria. All the vendors were recognized for their ability to execute and their completeness of vision.
There are several companies that are strong in the MDM field, and just a few are featured on the gartner master data management website. You can check the reviews here: https://www.gartner.com/reviews/market/master-data-management-solutions/vendor/profisee/product/profiseemasterdatamaestro
One of them is Profisee, a master data management company innovating data management strategies which provide an easy to use and easy to deploy enterprise MDM platform. As a Microsoft Tier 1, Development and Gold ISV Partner has a worldwide reputation for expertise and competence with Microsoft Master Data Services. Delivered on-premises, in the cloud, or via hybrid model (visit their website here). They were named for innovative approaches to MDM which positions them for being a trusted, reliable, and transparent company.
Profisee CEO Len Finkle says, “We are serving the 90% of companies yet to adopt an enterprise MDM platform by offering the first “Fast, Affordable and Scalable” solution.
This year Gartner has positioned Profisee as a Challenger for the second time in a row in its 2020 Magic Quadrant for Master Data Management Solutions.
According to the report, “The MDM market is showing a significant move from high cost and complexity to license flexibility and implementation agility. Data and analytics leaders can use this Magic Quadrant to help them navigate through a wide choice of enterprise MDM solutions*.”
Profisee VP of Marketing Reed Gusmus states, “We think that this year’s Magic Quadrant results and analyst comments further validate Profisee’s vision and ability to support the underserviced MDM market who have traditionally only had options that are too expensive, too slow to implement, and too risky. Profisee is the only vendor delivering on the needs of the underserved MDM market who have yet to adopt MDM, have given up in the past, or have declared failure early on in their efforts. We are able to do this by providing the industry’s only “Fast, Affordable, and Scalable” MDM solution that among other benefits can free up time, funding, and resources to concentrate on those aspects of MDM outside of the software that we all know are so challenging.”
You can get the whole report here: https://go.profisee.com/2020-gartner-master-data-management-magic-quadrant
You can also check this informational and interesting post called “14 leading vendors for master data management software” where they wrote this line that called my attention: “Profisee’s understanding of the MDM market’s requirements forms the basis of a solid set of multidomain capabilities and roadmap”.
Read the full post here:
Concluding this post, it is good to see that the myth in which people say Large vendors or “Mega vendors” (SAP, IBM, Oracle) dominate is not true and that other companies have the chance to grow. New technologies are offering new and fast ways to address challenges where the industry thought it would take years.