Master Data Management tries to avoid major corporations from utilizing several versions of the same master data in different elements of their operations. Data consolidation, data storage, data transfer, data classification, taxonomy services, product master creation, schema mapping, item coding, data enrichment, and data management are all common approaches used in master data management.

In the list of the top tools, we have mentioned the Top 35 Master Data Management (MDM) tools along with their features and pricing for you to choose from.

1. Profisee

Traditional master data management (MDM) systems include expense, complexities, hazard, and data domain limitations. The Profisee MDM platform offers businesses a quick, low-cost, and scalable solution for providing reliable data throughout the organization. Because it is built on a Microsoft tech stack, Profisee is renowned among Microsoft-centric businesses and has native connectors with Microsoft Azure, including Azure Purview (data catalog and governance platform).

Key Features:

• Modeling of data

• Data governance and stewardship

• Data integration.

• Golden record management.

• Industry and domain-based data structures.

• Allows for rapid value and implementation.

• Designed to support an infinite number of domains in a single environment.

• This is really a no-brainer for Microsoft environments.

Cost:

You can talk to their sales team and request a quote.

2. Enterworks (Winshuttle)

Winshuttle, a provider of information software and master product data software, has obtained EnterWorks Multi-Domain MDM. Its multi-domain MDM system unifies product data for centralised management and data enhancement.

Key Features:

• Collaborative workflows and adaptable business rules are all part of data governance.

• Data stewardship that incorporates data profiling and attributes management.

• Use data quality procedures to validate, clean, and categorise all imported data.

• Multi-domain management with the capacity to unify governance and stewardship.

• Provides comprehensive product information and reference data management.

• Offers up an enterprise-level feasible solution.

• It has an XML-based design that allows users to develop customized, complicated data models without having to code anything.

Cost:

You can talk to their sales team and request a quote.

3. Ataccama ONE

Data profiling and cataloging, data governance and quality, and master data management are among the characteristics of Ataccama ONE, an integrated data curation platform. Multiple domains, reference data management, hierarchy management, and other features are all supported by its MDM system.

Key Features:

• Data consolidation

• Pre-defined business models

• Reference data management

• Business rule enforcement

• Hierarchy management.

• Surveillance and auditing of data

• Data lakes with analytic MDM.

• MDM across many domains is supported.

• Provides excellent data matching, identity authentication, as well as hierarchy management.

Cost:

You can talk to their sales team and request a quote.

4. IBI (Information Builders)

Information Builders (IBI) combines business intelligence, analytics, data integration, data quality, and data integration into a single platform. Data preparation, integration, quality, administration, and governance are all characteristics of its data platform.

Key Features:

• Multi-domain MDM.

• The enhanced data integration includes transactional data.

• Historical data has been included to record mastered and transactional subjects.

• Data sources.

• Data deduplication services

• Comes with an easy UI for core capabilities.

• It features a large number of client testimonials and reviews.

• Access to additional capabilities, notably in the areas of BI and analytics, via other Information Builders offerings.

Cost:

You can discuss this with their sales team and request a quote.

5. Boomi

Boomi is a cloud-based MDM solution from Dell. Application integration, master data management, as well as domain-specific data quality are really just a few of the services available. Boomi's multi-tenant platform offers cloud-to-cloud, cloud-to-on-premise, as well as on connections, and also real-time integrations, and it expands easily to handle surges in demand.

Key Features:

• Visual data modeling as well as definitions.

• Data synchronization via a number of different integrations.

• API management.

• Application integration support.

• App integration is available.

• Encourages electronic data exchange (EDI).

• MDM features that are provided include bidirectional data flows, data enrichment, & multi-domain support.

Cost:

You can discuss this with their sales team and request a quote.

6. IBM InfoSphere

IBM InfoSphere Master Data Management is a multi-domain enterprise MDM system that also incorporates IBM's data governance & orchestration services. It contains a completely customizable framework that incorporates data analytics and capabilities for a wide range of business users.

Key Features:

• Includes data matching & deduplication

• This system is adaptable on-premises and in the cloud.

• Author, monitor, and enforce data quality policies with policy management tools.

Cost:

You can discuss this with their sales team and request a quote.

7. Informatica

Informatica is a cloud-based enterprise data management company that offers a number of solutions to assist businesses to gain control over their data and set it to work. Informatica has a variety of MDM systems that might be used in the cloud or on-premises and cover a wide range of domains.

Key Features:

• Data gathering from cloud, on-premises, and third-party sources.

• Data enrichment.

• Relationship identification.

• Data deduping.

• Data integrations (transactional and social)

Cost:

You can talk to their sales team and request a quote.

8. Magnitude Kalido MDM

A multidomain MDM platform, Magnitude Kalido MDM provides policy-based data modeling and governance. It also features a variety of alternative user interfaces for different crowds, as well as differing opinions for different occupations.

Key Features:

• Audience-specific interfaces.

• Capabilities for managing reference data as well as a hierarchy.

• To build a golden record, data harmonization is used to merge disparate data sources.

• Create new entries, apply rules, as well as send data out to operational systems via centralized master data authoring.

Cost:

You can talk to their sales team and request a quote.

9. Neo4j

Neo4j is a data-connected graph platform. Its technology, which is based on a graph database, excels in detecting links between data points. Data integration, discovery, as well as visualization, are just a few of the data management features available in Neo4j.

Key Features:

• Data lake integration.

• Data visualization and analysis are accomplished through the use of graph analytics.

• Data discovery.

Cost:

You can talk to their sales team and request a quote.

10. Oracle Enterprise Data Management

Oracle Enterprise Data Management is an enterprise-level MDM software that supports several domains. It is currently incorporated inside cloud apps and consists of various distinct solutions meant to gather and standardize data as a function of the application. This used to be a standalone MDM platform.

Key Features:

• Consumer data management.

• Data governance, including protocols for data quality remediation.

• Data management for analytical & operational data.

• Workflows that can be customized

Cost:

You can talk to their sales team and request a quote.

11. Reltio

Reltio is a cloud-based MDM platform that provides many domains. It handles both organized as well as unstructured data and is scalable to fulfill the demands of both small businesses and large corporations.

Key Features:

• Combines and connects master data, reference data, transaction data, interaction data, as well as social data into one coherent picture.

• Exposure to third-party data sets is available via Data as a Service.

• Monitoring and auditing of data.

• Major Data insights

Cost:

You can talk to their sales team and request a quote.

12. SAP Master Data Governance

SAP Master Data Governance is SAP's MDM offering. Domain-specific MDM, as well as collaborative and pre-built procedures, are all part of the Master Data Governance system.

Key Features:

• Changes to master data should be audited.

• Workflows that are collaborative as well as pre-made

• Data cleaning approaches include profiling, standardization, matching, & enrichment.

• Routing automation.

Cost:

You can talk to their sales team and request a quote.

13. Semarchy

With its xDM platform, Semarchy provides multi-vector MDM. The platform makes data stewardship collaborative by using algorithms & material design. In addition, Semarchy implements its xDM platform in an agile, iterative manner.

Key Features:

• Data maintenance with guided authoring

• Data modeling is adaptable.

• Data governance is interactive as well as flexible.

• To keep a single source of truth, combine & match skills.

Cost:

You can talk to their sales team and request a quote.

14. Software AG's OneData

Through its own OneData solution, Software AG delivers multi-domain MDM. Software AG's OneData solution is part of the larger Digital Business Platform, which comprises solutions for analytics and choices, process and programs, integration and APIs, as well as gadgets.

Key Features:

• Data modeling that is flexible and multi-domain.

• Internal as well as external procedures can be supported by a data governance architecture.

• Security is based on roles and the capacity to control authorizations at the cell level.

• Data quality matching & grouping.

Cost:

You can discuss this with their sales team and request a quote.

15. SASMDM

SASMDM is a SAS analytics-focused multi-domain MDM solution. SAS MDM is a comprehensive data management solution that places a premium on data quality & control. SAS also offers MDM consulting in addition to the solution.

Key Features:

• Data quality.

• Data integration.

• Modeling of data

• Data management.

Cost:

You can discuss this with their sales team and request a quote.

16. Syniti

With such a comprehensive focus on data management capabilities, Syniti delivers master data management as part of its Syniti Knowledge Platform software stack. The 'Orchestrate' elements of Syniti assure that perhaps the finest master and application data is incorporated into business systems.

Key Features:

• A complete data management system.

• There are more than 160 software as well as platform connectors.

• Available through a vast network of partners.

Cost:

You can discuss this with their sales team and request a quote.

17. Teradata MDM

Terradata MDM combines master & reference data governance capabilities with a multi-domain MDM system. To design as well as enhance master data, it utilizes a workflow & process-driven system.

Key Features:

• Data management

• Management of reference data

• Cleansing, organizing, tracking, and synchronizing data

• Support for interactions with customers, products, suppliers, accounts, as well as company data

Cost:

You can discuss this with their sales team and request a quote.

18. TIBCO EBX

Through its EBX platform, TIBCO EBX (formerly Orchestra Networks) offers a number of solutions to assist enterprises to manage their data assets. The EBX platform supports master data management, reference data management, data management, hierarchy management, as well as taxonomy management across several domains.

Key Features:

• Adaptable data modeling

• Profiling, cleaning, verifying, as well as matching data are all part of the integrated data quality capabilities.

• Collaborative workflows.

• Data visualization user interface for business users.

Cost:

You can talk to their sales team and request a quote.

19. Unidata

Unidata supplies a multi-functional data management platform that incorporates master data management, as well as business glossaries, business processes, reference data management, and other features.

Key Features:

• Data modeling.

• Data quality.

• MDM & reference data management.

• Business process management

Cost:

You can talk to their sales team and request a quote.

20. Innovative Systems Inc.

Innovative Systems Inc. has been providing enterprise data management and risk management solutions for several years now. It comes with a Synchronous MDM solution that can be implemented on-premises, in the cloud, or as a hybrid solution.

Key Features:

• Profiling, discovery, as well as monitoring of data.

• Full 360-degree view of data.

• Workflow control.

• Reference data management

Cost:

You can talk to their sales team and request a quote.

21. Precisely Data Integrity Suite

The Precisely Data Integrity Suite is a collection of products developed by Precisely, a new firm founded by the merging of Syncsort and Pitney Bowes Software & Data. With its mailing, shipping, and worldwide eCommerce solutions, Precisely is recognized for facilitating business. It also provides software services for location intelligence, customer interaction, as well as customer data management.

Key Features:

• Metadata insights for a single customer view

• For constructing data models, use the data hub module.

• Without merging data sources, the data federation democratizes access to information.

• Address verification & geocoding need data management.

Cost:

You can talk to their sales team and request a quote.

22. Talend

As part of Talend its Data Fabric family of solutions, Talend offers a Customer 360 platform, which integrates data integration, integrity, as well as governance into a single, unified platform.

Key Features:

• File management, data orchestration, and connections are among the data components as well as interfaces available.

• Data schemas & interactive data viewers are among the design and productivity features available.

Cost:

You can talk to their sales team and request a quote.

23. Contentserv

Contentserv's product-focused MDM platform enables manufacturers to align diverse information management technologies from various departments or business units to a single reference point, referred to as a Golden Record, in order to build as well as manage a full and accurate record of vital data.

Key Features:

• Data governance establishes processes, procedures, and accountability while defining as well as enforcing norms and regulations.

• Define cleaning, deduplication, and rule-based categorization, as well as normalization, matching, and linking.

Cost:

You can talk to their sales team and request a quote.

24. Magnitude Agility PIM

Magnitude Agility PIM is a specialist MDM solution focused on "Product Management for Commerce." Its focus is on product enrichment, analytics, as well as multichannel syndication for product data, with the goal of assisting commerce enterprises in better managing and integrating data. Product data is aligned with all other master data in Agility Multichannel.

Key Features:

• Data integration

• Data management

• Data analysis

• Relationship and hierarchical management

Cost:

You can talk to their sales team and request a quote.

25. Verdantis

Through its Harmonize and Integrity solutions, Verdantis manages materials and service master data. Verdantis Harmonize focuses on data cleansing and deduplication, whereas Verdantis Integrity employs data governance and procedures to maintain data clean. Both Verdantis technologies employ artificial intelligence to categorize, dedupe, enhance, as well as manage data in an automated manner.

Key Features:

• Data management skills powered by AI.

• Data categorization that adapts to any schema over time.

• Extraction of attributes

• Normalization of data is fully automatic.

Cost:

You can talk to their sales team and request a quote.

26. PiLog

PiLog's Master Data Record Manager (MDRM) is a multi-domain governance system with inbuilt data quality management for Material, Assets, Vendor, Client, Service, as well as Employee domains among many others.

Key Features:

• Use case for asset management and maintenance, repair, and operations (MRO).

• Vendor/supplier, buy-side materials, and B2B customer domains are all included in this multidomain manufacturing use case.

• Master data governance is a priority.

Cost:

You can talk to their sales team and request a quote.

27. Prospecta Master Data Online

Prospecta Master Data Online (MDO) is a cloud-based, SaaS master data management platform aimed at asset-intensive businesses such as manufacturing, mining, oil & gas, & utility. Data cleansing and governance in the metals and mining industries, data transfer in the oil and gas industry, as well as mastering material data for an automobile company are all examples of use cases.

Key Features:

• Management of finished goods/products.

• Onboarding and oversight of vendors

• Finance master data.

• Governance and protection of customers as well as data

Cost:

You can discuss this with their sales team and request a quote.

28. Riversand

Riversand is a multinational software firm that offers a number of solutions to assist businesses to get control over their data. Its MDM software provides an all-in-one, cloud-native platform for multi-domain MDM that addresses data management, data quality, reporting, and other issues.

Key Features:

• Products, customers, sellers, spares, resources, and supply chain master data are some of the vertical-specific master data use cases.

• Data management.

• Reporting.

• Data quality.

Cost:

You can discuss this with their sales team and request a quote.

29. Sphera Master Data Management

Sphera Master Data Management(formerly sparesFinder) is a cloud-based software framework for developing and monitoring reliable, precise master data. Sphera's capabilities include data standards and enrichment, analytics and reporting, governance, as well as discovery.

Key Features:

• Cleaning, standardization, and enrichment of data.

• Data is scanned for accuracy.

• Analytics reports that are already built.

• Dashboards that can be customized

• Audit trail for data modifications.

• Synchronization of data.

• Data filtering.

Cost:

You can discuss this with their sales team and request a quote.

30. Stibo Systems

Stibo Systems provides technologies to aid in the management of operational data. STEP, the company's MDM solution, enables multi-domain MDM for data on products, customers, assets, suppliers, employees, references, and locations. Stibo Systems also offers one-of-a-kind products as well as customer MDM solutions.

Key Features:

• Product, client, asset, vendor, worker, reference, and location information are all managed.

• Data management

• Onboarding of data

• Data cleansing

• Data enrichment

• Data sharing

Cost:

You can discuss this with their sales team and request a quote.

31. Viamedici

The Enterprise Product Information Management (EPIM) package from Viamedici is mainly concentrated on sell-side data use cases. Master data management (MDM) is one of their array of solutions aimed at assisting large-scale manufacturers with both structured as well as unstructured data management.

Key Features:

• A collection of solutions centered on product data management.

• The focus is on substantial, global deployments.

• Ability to work with unstructured data such as images, graphics, documents, and also audio and video files.

Cost:

You can discuss this with their sales team and request a quote.

32. GoldenSource Enterprise Data Management

GoldenSource Enterprise Data Management is a versatile data management infrastructure designed for financial industry traders. Its product set includes EDM and MDM capabilities for a number of financial institutions and industrial use cases, all with the purpose of assisting enterprises in risk management, compliance, cost reduction, and the discovery of new possibilities.

Key Features:

• Data auditing.

• Relationship management and hierarchy

• Data collection, cleaning, normalization, validation, enrichment, as well as dissemination are all steps in the data collection process.

• Data management and monitoring of company activity

• Exception management.

• Workflows and data modeling

• Third-party vendor connectors that have been pre-configured.

Cost:

You can discuss this with their sales team and request a quote.

33. Verato

Verato is a cloud-based identity resolution and matching tool. Verato integrates master patient index and master data management capabilities into a single platform, allowing healthcare businesses to generate a holistic image of their patients and access more accurate analytics. Verato has subsequently expanded its offerings to include retail, government, as well as financial sectors.

Key Features:

• Identity resolution is based on demographic data from the United States and computerized data matching.

• Data deduplication

• Management of data.

• Real-time data validation.

Cost:

You can discuss this with their sales team and request a quote.

34. Vinculum

Vinculum is a multinational firm that provides SaaS-based eCommerce solutions, such as multi-channel order management and fulfillment via point of sale, warehouse management, as well as master data management. VIN MDM is a retail-specific multi-domain master data management solution.

Key Features:

• Product data management that spans many channels.

• Customer data integrations are used to synchronize customer information across many platforms across the supply chain.

• Data governance and collaborative workflows

• Profiling, cleaning, standardization, and enrichment of data are examples of data quality skills.

• Data integration for both organized as well as unstructured data.

Cost:

You can discuss this with their sales team and request a quote.

35. IVP

As part of their master data management solution portfolio, IVP (Indus Valley Partners) principally offers an EDM tool. IVP offers a wide range of tools for the worldwide asset management business, including regulatory reporting, portfolio analytics, and data management. For this specific sector, their EDM solution offers data management, dissemination, monitoring, and control capabilities.

Key Features:

• About 600 adaptors are pre-configured.

• Dashboards that track data flow.

• Data dissemination flows can be customized.

• Around 1,000 pre-configured tests for data quality & governance.

Cost:

You can discuss this with their sales team and request a quote.

Things to consider before selecting Master Data Management Tools

Conduct extensive research

The many forms of Master Data Management Tools have already been explored. The most crucial step is to create a list of tools that will help you remain focused on your finances. It is vital to undertake extensive research and prepare a list of all the tools you would like to use. Decide which tool is suitable for your firm after performing an extensive study.

Your business case must be convincing

By gaining support from higher management, you and your team should be able to make a strong case for the investment. Without a question, Master Data Management Tools are critical for business, but you need first establish a solid foundation for your company before investing in additional tools. As a result, before testing out the best technologies, decision-makers need to witness a personalized demo.

Budgeting

Research the best products, compare them to your budget, and set up a free demo for your most important stakeholders. Just choose the finest software for your company based on its requirements and evidence. The use of Master Data Management Tools aids in the effective planning and management of a company's working capital.

Conclusion

We examined the various Master Data Management Tools in this post. I hope this has given you a better understanding of how to select the Master Data Management Tool that best suits your needs.

FAQs

What is MDM- Master Data Management?

Master data is the data that must be distributed across multiple frameworks or business operations and is kept in a master data repository. This database might contain both analytical as well as reference data. Master, data can be found in the form of a client, a product, an asset, a location, an individual, an organizational unit, or a chart of finances.

MDM (master data management) is a concept in which applications are utilized to host a complete master data source of all vital data that serves as a single point of reference. The information is utilized to assist business intelligence as well as to develop a database of transactions and analyses. MDM is a continuous program that encompasses data quality, data intelligence, as well as data modeling, among other things.

What value does MDM add to my company?

Your company is likely to have a number of separate, overlapping systems that are incompatible. MDM is a method of sharing master data and ensuring consistency across various apps. It can also:

• Make sure there are not any duplicate or erroneous records in your company.

• Store reference data that enables programs to define relevant reference data in a consistent manner.

• Provide company hierarchy as well as relationship management

• Sleek procedures, enhanced decision-making, and faster time-to-revenue are the economic payoffs.

Is MDM feasible for small businesses?

SMBs can come up with solutions that can be bought piecemeal and combined, starting with data quality. Bloor analyst Philip Howard puts it like this, “In practice, we do not know of a single user of MDM that has not simultaneously or previously implemented data quality to support their master data.” You may begin with simple, focused efforts, such as locating data cleansing as well as profiling solutions.

What is the significance of master data management?

Inaccurate data has the potential to disrupt entire company functions such as planning, organizing, leading, and managing. Employees must correct duplicate and incorrect data in order for commercial operations to run smoothly, and these issues cost firms time and money. The use of master data management may help businesses avoid data errors and increase data quality

What are some of the challenges with master data management?

Master data that is not handled in a timely way increases the cost burden on firms by resulting in repetitive transactions in data warehouses. It may be difficult to apply master data management to existing data; it is more efficient to start with new data. By implementing master data management to existing data in stages, the task is made easier. There are a variety of master data management systems to choose from, but the most important thing is to find the right one for your business. Before settling on a tool, you must first assess and identify your company's objectives and goals.

Master Data Management tries to avoid major corporations from utilizing several versions of the same master data in different elements of their operations. Data consolidation, data storage, data transfer, data classification, taxonomy services, product master creation, schema mapping, item coding, data enrichment, and data management are all common approaches used in master data management.