To execute more data-driven business strategies, organizations need linked and comprehensive data that is available in real time. By consistently managing data across siloed systems and ensuring that data definitions are agreed and current, organizations can overcome the challenges presented by data being distributed across an increasingly disparate range of applications and data-processing locations. Maintaining data quality is a perennial data management challenge, often preventing organizations from operating at the speed of business. Our Analytics and Data Benchmark Research shows that almost two-thirds of participants (64%) cited reviewing data for quality issues as being the most time-consuming aspect of analytics initiatives, second only to preparing data for analysis. This is where master data management (MDM) becomes critical, to ensure that organizations have the clean, consistent data needed to operate efficiently and effectively. When organizations control master data, they gain visibility into their overall operations and can provide proper governance, while also having access to reliable, accurate and timely data about customers, products, assets and employees. Reltio offers MDM products designed to help customers improve trust in data by unifying and cleansing complex data from multiple sources in real time.
Reltio’s cloud-native, multi-domain MDM platform enables organizations to manage enterprise data for operational or analytical use cases. It provides machine learning (ML)-based data matching as well as data validation rules designed to facilitate the unification and cleansing of data from multiple sources, including customer, business, product and location data. The company also offers packaged functionality targeted at key use cases that require the unification of data from multiple sources: Enterprise 360, Connected Customer 360 and Identity 360. The company recently launched Reltio for Life Sciences and Reltio for Healthcare velocity packs with predefined data models and data integration configurations as part of its strategy to accelerate return on investment in key verticals. The company utilizes technologies including a NoSQL database, Elasticsearch and Apache Spark along with cloud services across multiple zones for redundancy, fault tolerance and availability. In 2021, Reltio secured $120 million in funding, valuing the company at approximately $1.7 billion. It has raised $237 million in total funding to date and has used this funding to fuel research and development and expand global go-to-market.
Reltio Connected Data Platform is the company’s cloud-native, software-as-a-service (SaaS), MDM offering, designed to continuously cleanse, deduplicate and enrich data. It is built on a microservices-oriented architecture designed to enable horizontal scalability of individual services independently and supports both usage and consumption-based models, enabling customers to scale capacity up or down based on the requirements of a specific workload. Reltio recently announced new real-time data quality capabilities within its Connected Data Platform to increase visibility via continuous and automated monitoring. Newly added features include an interactive dashboard providing real-time insight into data characteristics, patterns and trends for entities and relationships. Reltio enables IT to streamline data and make it accessible throughout the organization. The company has a big network of service and technology partners — including ActionIQ, Amazon Web Services, Snowflake and Salesforce, amongst others — that can enable organizations to create specific solutions for their needs.
The company recently enhanced its partnership with Google Cloud BigQuery to make it easier to consolidate, cleanse and enrich data in real time. Users can now transfer data from BigQuery to Reltio’s pre-built, industry-specific solutions for core data domains like customer, product and location. I assert that through 2025, 7 in 10 organizations will be engaged in data integrity initiatives to increase trust in their data processes using data quality and MDM tools. In addition to the Connected Data Platform, Reltio also offers capabilities for data quality and data integration. Reltio Data Quality is its automated data quality management offering that is designed to continuously inspect data based upon configurable business rules and deliver recommendations to personnel to correct data quality issues. Reltio Integration Hub is a low-code/no-code data integration platform that uses automation to simplify the integration of upstream and downstream applications with trusted data.
Data management and data quality are imperative for organizations to ensure they can balance compliance requirements with the desire to provide holistic, real-time customer experiences and improve operational efficiency. MDM products can enable organizations to scale, process and unify large volumes of data, providing organizations with the confidence that they can trust the data used in critical business initiatives. Reltio is advancing and adding capabilities to strengthen its cloud-native MDM platform to meet the requirements of data-driven businesses. Organizations looking for a modern MDM platform with real-time data management capabilities for data operations should consider Reltio because it enables organizations to unify data while maintaining quality and reliability. With Reltio, users can connect data across a wide range of applications and data stores in real time to accelerate decision-making and digital transformation.