Gartner (Bill O’Kane, Terilyn Palanca, Michael Patrick Moran) has issued a new MQ for Master Data Management Solutions. The previous MQs that were separately focused on Products and Customers have been retired.
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Enterprises have realized that irrespective of where they start their journey – Product, Customer, Asset, Reference, they eventually need one solution which can provide them a multi-domain capability. Organizations, worldwide have acknowledged that without a foundational Master Data Management solution, they are not able to compete as fiercely and aggressively as they want to. As a result, the priority of MDM as a technology investment has climbed up the ladder.
“In a 2016 Gartner study on customer experience innovation, MDM ranked fifth (at 20%) in the overall percentage of Gartner Research Circle respondents who considered it one of their three most critical technology investments for 2016.” Gartner, Market Insight: New Dynamics Drive Strong Growth and New Opportunities for Master Data Management Software Vendors, T.Palanca, A. Dayley, B. O’Kane, M.P. Moran, 27 October 2016.
Gartner is clear that this new MQ is not just about multidomain or merger of the MQ for Product MDM and the MQ for the Customer MDM. Rather, this is a new MQ evaluating vendors purely based on their Master Data Management Capabilities. In this first MQ for Master Data Management Solutions, Gartner evaluated 10 vendors on their strengths and cautions against a bigger market
- In 2015 MDM implementations had to have a revenue greater than $15 million in total software revenue
- Sales & operations in at least two of the following regions (Americas, Europe, Middle East, Africa, Asia and Australasia)
- Sales, operations, support operations and customers in multiple industries.
Riversand is extremely proud to be only visionary in this new MQ for MDM Solutions. We have experienced an accelerated growth across verticals, geographies, and size of the business. We are partnering with our customers to bring their global business complexities under one solution which is scalable, dynamically configurable and offer the best user experience.
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