Master data is an important asset in all enterprises, so an effective Master Data Management (MDM) program is critical in maintaining good operational and financial health. A Master Data Management strategy should determine and build a single, accurate and authoritative source of truth of a company’s information assets.
To help enterprises manage master data, Verdantis, a provider of Automated MDM solutions, has announced the launch of Verdantis Harmonize for Master Data Quality Improvement.
The new MDM solution uses statistical artificial intelligence (AI) models and Web-spidering technology to help large companies improve master data quality using internal resources.
Companies can leverage the technology to standardize, normalize, attribute, rationalize, and enrich the organization’s material, item, and product master data using embedded knowledge that leverages enterprise knowledge assets.
“Harmonize has been developed using customer feedback and Material MDM domain expertise garnered over a decade of delivering master data management solutions to our G500 clients,” said Arthur Raguette, executive vice president, Verdantis, in a statement.
By using clustering algorithms and fuzzy logic matching, the MDM solution learns industry-specific data associations, helping increase the speed of processing of records. In customer workshop sessions, individual professionals have reported processing thousands of records in a few hours.
The solution features an easy-to-use interface to standardize, normalize, attribute, rationalize, and enrich the organization’s material, item, and product master data using embedded knowledge that leverages enterprise knowledge assets. This helps drive organizational optimization and improved productivity.
In another related development in the data management industry, Informatica, a provider of data integration software, launched the latest master data management (MDM) software Informatica MDM9.6.
The new Informatica MDM powers universal MDM, which depends on four essential capabilities: universal services, universal domains, universal governance and universal solutions. The solution enables companies to “start small by solving their most immediate business problem and scaling to others across the enterprise.”
Edited by Ashley Caputo