Prospecta gets an honorable mention in Gartner's Magic Quadrant for Master Data Management Solutions, 2021

Prospecta gets an honorable mention in Gartner's Magic Quadrant for Master Data Management Solutions, 2021

The MDM market continues to evolve and thrive as organizations seek to benefit from the business agility afforded by mastering their most critical data, particularly in times of change. Data and analytics leaders should use this research to inform their MDM solution choices beyond vendor marketing hype.

Strategic Planning Assumption

By 2023, organizations with shared ontology, semantics, governance and stewardship processes to enable interenterprise data sharing will outperform those that don’t.

Market Definition/Description

MDM Solution Capabilities

Gartner defines master data management (MDM) as a technology-enabled business discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, governance, semantic consistency and accountability of an enterprise’s official shared master data assets.
Packaged MDM software solutions are products that:
 
  • Support the global identification, linking and synchronization of master data across heterogeneous data sources through reconciliation
  • Create and manage a central, persisted system or index of record for master data
  • Support the four MDM hub implementation styles, as defined by Gartner — see the Completeness of Vision section, “Offering (Product) Strategy”
  • Enable generation and delivery of a trusted version of one or more data domains to all stakeholders, in support of various business initiatives
  • Support ongoing master data stewardship and governance requirements through workflow-based monitoring and corrective-action techniques
  • Are agnostic to the business application landscape in which they reside; that is, they do not assume or depend on the presence of any particular business application(s) to function (aka “application neutral”)
  • Can be implemented by end-user organizations without having to make use of required professional services (i.e., not optional); end-user organizations may elect to make use of optional professional services, either those of the vendor or a third-party service provider.