Companies rely on accurate, updated data to achieve optimal customer satisfaction and complete end-to-end business visibility. For a unified view of your data across your sources and target systems, you need to employ a proper master data management strategy.
However, your data is stored in disparate systems across the organizational architecture. Without an effective method of managing and viewing your data, obtaining insights for effective business decisions can become a hassle, if not impossible.
Master data management tools can combine your data sources and processes to maintain high-quality data so that you can readily access vital data whenever you need to make critical business decisions.
Learn more about master data management tools and our recommended software to help achieve complete data governance.
[ Related: When do you need a data governance and master data management strategy?]
What is Master Data Management?
Master data management (MDM) refers to organizations creating and working on updating a single record of data called the master data or “golden record.” The master data is information that your organization can rely on its definitions.
Master data management continuously updates a single master record of people, processes, and systems responsible for keeping data consistent and accurate.
Businesses rely on trusted data sources for accurate analytics, to remove inconsistencies, and help teams make more informed decisions. MDM requires various parts of your organization to come together and manage data.
MDM empowers people from your organization to steward and govern the existing and future data. Effective master data management necessitates the creation of automated data processes to create predefined guidelines for data collection, maintenance, and validation of data.
Thus, master data management solutions rely on data cleansing, transformation, and integration for consistent, high-quality data. With these processes, your organization can eliminate data silos and inconsistent data across your target systems.
Master data management can be implemented as four strategies: registry style MDM, consolidated style MDM, coexistent style MDM, and transactional style MDM. With master data management tools, you can start implementing your MDM strategy.
[ Related: Top 5 Data Cleansing Tools Every Data Professional Needs to Know About ]
What are Master Data Management Tools?
Master data management tools simplify your chosen MDM strategy operated by your data stewards, stakeholders, and data processes. They are software products designed for enterprises to synchronize their data across various data sources and maintain a central data index.
Although the process of MDM might sound simple, properly implementing it and choosing the correct vendor can become a monumental task based on the tool’s complexity and implementation procedures.
[ Related: Customer Data Platform vs. Master Data Management ]
Top 7 Master Data Management Tools
To help optimize your MDM strategy based on your personalized organizational requirements, I have listed out the top 7 master data management tools in the market today:
Syncari
Syncari is a no-code cloud-based data automation and management platform that focuses on enabling enterprise-level businesses to create more efficient workflows through data synchronization, integration, and unification.
Syncari aligns cross-functional data into a unified data model across disparate systems. We rely on powerful AI algorithms to automatically detect and resolve data conflicts, data deduplication, and inconsistencies across your data sources to maintain data integrity.
Syncari automates manual tasks like data cleaning and mapping for consistent data in your target systems. We provide organizations to achieve complete data governance by allowing you to develop each business system into the “source of truth” for its team.
[ Related: Maximizing Success with Customer Master Data Management ]
Intelligent data matching unifies data records to eliminate the possibility of duplicate data and sync your data in a stateful and continuous way. Our patented stateful sync is a multi-directional sync engine to make your data reflect the same way across all systems.
Stateful sync gives you control over data authority, manages deletions, and performs universal dedupe and merge programs. It is one of our defining features that updates your systems in real-time, regardless of how many simultaneous changes you make.
Syncari helps you maintain clean and accurate data for centralized data governance and master data management so you always receive insightful data to streamline your workflows and deliver optimal customer satisfaction.
Syncari’s advanced data enrichment features build on high-quality data by adding additional contextual information from external sources like social media platforms, marketing automation tools, etc., to provide more insights into your customer data.
With workflow automation, users of all technical skills can create and automate custom data workflows on the Syncari platform using an intuitive drag-and-drop interface to effortlessly carry out personalized data modeling.
Syncari’s connectors provide superior scalability and flexibility as it is built on modern microservice architectures that allow you to define connectors based on your exact requirement from the particular connector.
We provide third-party integrations with Salesforce, Marketo, Hubspot, and other CRM software, marketing automation tools, and applications.
Pricing
Syncari has a transparent pricing plan based on your data integration requirements. You can contact our team and talk to us for a customized plan tailored to your budget and data needs.
You can try out Syncari’s features risk-free with a 30-day free trial or book a demo to see how we can help streamline your data workflows and consistently maintain high-quality data across your data sources, systems, and devices.
| Starter | Growth | Enterprise |
|---|---|---|
| $2995/ month3 Synapses 300,000 records Unified data model Customer data hub Universal IDs and data stitching Visual field mapping No-code functions and actions Centralized enrichment Global deduplication Enterprise data dictionary Reference data sets Data Authority Data lineage Imported file sync and management Batch processing Data Fitness Index Data Activation: Templatized workflows Sums, aggregations, and roll-ups Look-ups and filters Slack Block Kit support Custom actions | $4995/ monthUnlimited Synapses Upto 1 million records Everything in Starter and: Complete Synapse Library Access Syncari Software Development Kit (SDK) SSO Support | Get a QuoteUnlimited Synapses Millions of records Everything in Growth and: Support for billions of records Sandbox environments Multiple instance management Custom pricing |
Boomi
Boomi is a cloud-native integration platform-as-a-service (iPaaS) environment catered to the data integration needs of organizations with limited technical expertise on the cloud or on-premise. Boomi lets DevOps teams create integrations faster with generative AI and automation.
The Boomi AtomSphere is a multi-tenant cloud platform that offers increased connectivity between data sources, applications, customers, and backend platforms. You can build automated workflows to access accurate data readily.
The Data Catalog & Preparation services of Boomi AtomSphere transform data into actionable insights for your company and operationalizes data governance. It uses a recommendation engine to enrich data and accelerate data preparation.
Boomi’s Master Data Hub is part of the Pervasive Intelligence features that act as their MDM platform that provides data synchronization and cleansing.
With that said, Boomi has a steep learning curve for creating integration projects, requiring your DevOps teams to undergo training if they want to use Boomi’s features effectively. Boomi faces performance issues when handling extensive file sizes and shows data inconsistencies.
IBM InfoSphere MDM
IBM InfoSphere MDM is an MDM solution designed to manage enterprise-level data for any system or data. It provides complete end-to-end visibility for better insights derived from your data.
IBM InfoSphere MDM is an open data platform for increased flexibility and has a configurable framework supported on hybrid cloud platforms. It is a scalable solution with policy management capabilities and compliance with data governance rules.
A significant drawback of IBM InfoSphere MDM is its relatively complex initial installation, making it difficult for users with limited knowledge of IBM tools to install it themselves. The user license cost can slowly increase and prove costly for small organizations.
Informatica MDM
Informatica MDM is a cloud-based data management platform that allows enterprises to receive a 360-degree view of their data across their organizations and disparate source systems.
Like Syncari, Informatica MDM employs AI-powered automation to enrich data from external sources and provide better data quality and governance through data deduplication and merging.
Informatica MDM supports multi-domain MDM and big data relationship management with identity resolution. It allows data acquisition from the cloud, on-premise, and external sources.
Despite its data governance offerings, it falls short compared to other master data management tools. Its user interface can prove to be unintuitive and unwieldy for business users. Data implementation can prove to be difficult, requiring experienced IT personnel.
[ Related: What is Informatica? Is It The Data Management Solution You’ve Been Overlooking ]
SAP Master Data Governance
SAP Master Data Governance is part of a suite of products by SAP that acts as their master data management solution to enable users to consolidate data and establish a single source of truth by combining SAP with third-party data sources.
SAP Master Data Governance enables teams to collaborate better and improve efficiency with role-based user interfaces and pre-built workflows. Pre-configured data models allow businesses to validate and define rules to centralize data governance.
It is a cloud platform built on SAP HANA, a data platform that assists in data cleansing activities. However, SAP Master Data Governance provides limited data matching capabilities and analytics for CRM software data.
Profisee
Profisee is a cloud-native master data management tool that helps enterprises solve data quality issues on a multi-domain platform. It is a scalable MDM solution that cleans and unifies data across disparate systems.
Profisee hosts a modern REST-based architecture that connects data sources, applications, and services and offers native integrations to Microsoft Azure services.
It has an intuitive data stewardship UI, data quality rules, metadata management, and workflow management.
Despite the scalability features, organizations may find it difficult to scale horizontally with Profisee. It cannot handle real-time and batch data integration and only runs on Windows/SQL servers.
TIBCO EBX
TIBCO EBX is an all-in-one solution offered by TIBCO Software to manage data assets like master data, reference data, and metadata. TIBCO EBX offers flexible data modeling based on specific use cases without purchasing separate third-party tools.
TIBCO EBX has real-time and batch integration options and data quality management for cleaning and profiling data. Business users can operate their intuitive visualizations and data dashboards with minimal hassle.
However, TIBCO EBX has a highly manual installation process for on-premise deployment. Every update needs to be manually implemented across various GUI points. Additionally, TIBCO EBX offers limited user documentation.
[ Related: Maximizing Success with Customer Master Data Management ]
Conclusion
Data is the backbone of modern organizations. You need consistent and accurate data to improve your workflows and campaigns and locate opportunities for business growth.
With the consumers’ ever-growing reliance on digital platforms, your data gets stored on various sources, resulting in partial visibility and incomplete insights.
A robust master data management tool can help unify your data and maintain a predefined source of truth that reflects across all your systems, applications, and devices.
Syncari offers powerful AI-driven features to automate your data enrichment processes and data integration workflows while ensuring your data stays updated in real-time in a stateful way with stateful sync.
Contact our team for a personalized premium plan based on your data requirements. You can also try our features risk-free with a 30-day free trial or book a demo to see how Syncari can help manage your data for maximum insights right when needed!
[ Related: Top 7 Data Integration Platforms You Should Know About ]
