Cloud master data management platform vendor Reltio updated its Connected Data platform with the general availability on Wednesday of new features to improve data quality and enable easier integration with business applications.
Founded in 2011, Reltio has been building out the cloud SaaS platform for master data management (MDM). The vendor raised a $120 million round of funding in November 2021 to help it expand the technology to meet growing user requirements for MDM.
The major new addition to the Reltio Connected Data Platform is the direct integration of data quality capabilities. The platform update also adds an integration hub that aims to make it easier for users to connect the Reltio MDM to enterprise applications for business operations, CRM and business intelligence.
Reltio has multiple competitors in the MDM market, including Informatica, which recently updated its platform; Ataccama, which has strong data governance capabilities; and Tibco, with its EBX MDM platform. The ability to automatically remediate potential data problems is an area that Reltio and other MDM vendors are working on.
"Reltio recognizes that more automation, particularly in terms of resolutions to data quality issues, would be helpful to organizations," said Ventana Research analyst David Menninger. "To the extent Reltio or others can automatically detect issues and automatically suggest or implement resolutions using machine learning, it will make is easier to ensure continuous data quality."
Real-time data quality comes to Reltio cloud MDM
Data quality and making sure that data in the Reltio platform is accurate and in the right format isn't an entirely new capability for the vendor. What is new is the real-time automated aspect that enables organizations to ensure data quality quickly.
Before the platform update, Reltio provided a number of data quality functions, including data deduplication. With the new integrated data quality capability, as data flows into the Reltio platform, it is automatically and continuously checked. The new data quality feature also provides data profiling and a quality measurement tool for data.
David MenningerAnalyst, Ventana Research
"What we are able to do is measure the data profiling information, identify any anomalies that we are seeing in the continuous stream of information and then guide the users to fix those issues in Reltio," said Manish Sood, founder and CTO of Reltio.
The Reltio platform addresses several common data quality problems. Among them is address verification, for which Reltio partners with global location service vendor Loqate. For formatting and data structure validation, Reltio has built its own capabilities that are now part of its Connected Data Platform.
Reltio Integration Hub connects applications to cloud MDM
MDM provides a master data record for a customer or a product, which is useful when that information is used in another system for business operations, such as order management or shipping.
With the Reltio Integration Hub, which is part of the its Connected Data Platform, users can now more easily connect the cloud MDM record to their applications.
Reltio previously provided a limited number of connectors for some of the most frequently requested systems, such as Salesforce, Sood noted. Meanwhile, the Reltio Integration Hub supports more than 1,000 enterprise applications to enable users to more easily connect data to applications.
"The key value for any customer of Reltio to is to activate that data into various downstream business processes and applications," Sood said.