The Gartner Magic Quadrant for Master Data Management Solutions is out, providing insights into how the market is swinging away from high cost and implementation complexity toward licensing flexibility and implementation agility.
In this article, we are providing our takeaways from the report, including why the EnterWorks MDM platform – and its “configure versus code” approach – was highlighted in the Gartner MDM Magic Quadrant.
MDM – An Evolving Market
MDM has historically been considered a back-office application. This limited view of what MDM can accomplish no longer meets the needs of the modern enterprise. As MDM evolves, providers must adapt to how the market views its solutions and how customers want to deploy them.
As the Gartner report highlights, gone are the days when customers will accept MDM deployments that are overwhelming, difficult to use, and obtrusive. Now, customers want a solution with quick time-to-value and with capabilities that can be tailored to their needs, both now and in the future.
Digital Transformation – A Driving Force
Digital transformation is driving this shift toward more agile solutions. According to Salesforce, digital transformation is, “the process of using digital technologies to create new – or modify existing – business procedures, culture, and customer experiences to meet the changing business and market requirements.”
Digital transformation represents a sea of change for businesses, and every organization is going through its own version of it. These companies are looking to MDM providers to help them navigate this new frontier of digital customer interaction.
Because technologies (and their customers’ buying habits) change so rapidly, organizations need their MDM provider to move flexibly with the market. To a modern enterprise, rigid data solutions that provide no bend will eventually break.
Organizations don’t necessarily know what their data or business requirements will be in five years, so they need an MDM platform that can evolve with them – whether that means starting with a single data domain and expanding later on; having flexibility for hybrid or cloud deployment; or swapping in the latest and greatest technology with no coding required.
Moving Forward with MxM
Gartner’s 2020 MDM Magic Quadrant report names EnterWorks MDM in an evaluation based on completeness of vision and ability to execute.
The EnterWorks platform is an advanced evolution of MDM known as Multi-Domain Experience Management (MxM) comprising converged MDM, PIM, and DAM foundation. MxM serves a broad variety of product-centered industries, with expansion into healthcare, services, high tech, automotive, and media. The EnterWorks MxM offering enables companies to individualize their product offerings in the context of their customer’s market, location, and competitor environment.
EnterWorks continues to accelerate its product roadmap, advancing the core platform and scale towards a vision of converging multi-domain MDM with advanced technologies such as augmented reality and artificial intelligence.
What It Means to Be Agile
In addition to speed and flexibility in implementation, in order to be agile, organizations need the capability to innovate inside and outside their MDM platform.
EnterWorks MxM provides this assurance through its Agile Data Fabric™ (ADF) architecture. Not just a flat relational model, ADF features a dynamic graph-like structure that weaves together structured and unstructured data, internal and external applications, and virtual and physical data stores for digital empowerment of businesses of all types.
ADF expands the scope of MDM and PIM, allowing for the rapid delivery of new functionality – like IoT, Blockchain, AR, VR, AI, machine learning, and evolving touchpoints – without coding.
Such agility enables companies to focus on business model innovation, knowing that their technology platforms can always keep pace.
Get Your Copy of The Garner 2020 Magic Quadrant for MDM Solutions
Emerging technology and digital disruption are driving a course correction for the MDM market. Companies across industries – among B2B, B2C, and B2B2C – need a foundation for advanced MDM, as well as an open architecture capable of enabling future technology. EnterWorks is helping bridge that gap.
Want to learn more about where the MDM market is headed, and how EnterWorks is helping companies break free of their data restraints? The Gartner 2020 Magic Quadrant for MDM Solutions is loaded with insights. If you’d like your own copy of the report, you can download a free copy here.