In today’s world, businesses can accumulate an enormous amount of data. In 2023 it can be used cross-functionally across different departments. Hence it can lead to a lot of data anomalies, redundancy, complexity, fragmentation, etc.
For this reason, it is easy to get confused with your data. Answering the core questions such as, “What is this particular data used for?” or “Who are the main clients?” becomes a problem.
To answer the above questions we have Master Data. The MD will remain unaltered, irrespective of how many times the data is processed across multiple channels. And Master Data Management is how the information or data is managed and categorized for future use.
Master Data Management Tools synchronized with different teams. Sales, Marketing, IT, and Operations all these can benefit by having a master data.
I have listed a few open-source MDM tools to help you decide the Best Master Data Management Tool for the year 2023 to fulfill your business needs.
Top 7 Open-Source Master Data Management Tools
Inaccurate and missing data can often lead to wrong analysis. Abandoned shopping carts and bad customer experiences can cost the company. Hence Talend offers an MDM solution suite that can help find relief to these problems.
Talend helps create the main record suite for the customer where all the data will be stored and used in multi-domain.
Talend helps share your data in real-time in order to save time, arrange data-flows in an orderly fashion. The approach connects to the cloud, and associates data providers with data consumers.
The result is comprehensive, and with actionable insights. That means a better data-client relationship.
Pimcore helps to accommodate all your master data, customers, products, and more in one location. One unique feature of the Pimcore MDM tool is that it is not suitable for a small-sized company. It is an enterprise-level solution and is considered one of the best open-source master management tool in 2023.
Pimcore stands by continuous data quality improvement and a data quality strategy. This is mandatory for the success of handling a large quantity of data.
Pimcore has over 85,000 clients in 50+ countries worldwide and is awarded as a ‘Cool Vendor’ by Gartner.
Relationship-mapping, Hierarchy Management, Data Masking, and Visualization are its core features.
Keen is the all-in-one solution for data management, right from gathering data to the utilization of that data. Keen allows you to siloed, process, query, present, and visualize data from a single API.
It makes it easy to get to your product data, allowing you to identify and solve any product related query more easily with an enhanced UX. Keen was made to cater to the needs of B2B, B2C, SaaS-based companies.
Data Source Integrations, Match & Merge, Multi-Domain, Process Management are the main features. The data obtain it in the form of a single API.
OpenDQ created the MDM tool to cater to small to mid-sized companies in need of Master Data Management. It delivers trusted data quality with the use of AI and Machine Learning in its framework.
It is built from scratch with a modular architecture. OpenDQ is scalable and will grow as per your enterprise data management needs. It is an enterprise-level zero license and free data quality, MDM, and data warehousing solution.
Comprehensive data quality, address standardization, customer views, data governance are its core features. Also, matching & profiling, data governance and business glossary are some of its extra features.
Sadas Engine is an open-source Master Data Management solution. It is designed to store, manage, and analyze vast quantities of data to implement solutions for:
- Business Intelligence
- Data Warehousing
- Data Analytics
Sadas claims that their tool can transform data into information with the fast columnar DBMS. It can perform 100 times faster than transactional DBMSs and carry out searches on vast quantities of data exceeding ten plus years.
In the free version, the time validity and the number of records are unlimited. But Sadas engine can make at most of 10 tables, and the number of connections is limited to 2.
Until a few years, back MDM tools were considered licensable or required subscription. But one of the emerging MDM solution vendors brought a free version for its user and that is Unidata.
Unidata allows its user to create their DBMS, develop scalable clusters according to your business’s needs. It integrates the entire system into the existing IT software and solution. All of it for free.
Unidata has its community where:
- Anyone can build their system based on open-source code.
- Create new MDM modules as per your requirements.
- Contribute to the open-source environment.
Semarchy offers a 30 days free trial for its Master Data Management Tool called xDM. Semarchy uses ML and data science algorithms to enhance UX and data quality for its users.
They vouch for transparency during data processing and governance. xDM can integrate any data source to the data hub with IT teams and management processes.
It operates on batch processing for faster results and has a native API for it. xDM operates and distributes master data across channels. It also reduces the operational costs with a centralized process.
Conclusion
Arranging data in an orderly manner is of utmost importance to create a single version of data for your company’s objectives.
MDM is generally considered as a center of all data processing for sourcing and distributing master data. An open-source MDM tool for the year 2023 should be a cost-effective tool that is ideal for organizations of any size.
You can select any of the tools mentioned above that suit your preference. The tools process and govern the master data right from its source efficiently and cost-effectively.
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