Having a way to keep up with the endless amounts of data that exists in our world is very much needed across industries and fields. For example, data management is used in the healthcare industry to keep track of every aspect of patients’ medical history. Streaming video services, on the other hand, compile data on their customers to know what’s popular and what’s not on their services. These are just a few of the ways in which data is utilized by many vendors and businesses across the United States.
One of the best ways to bring all of these datasets together through reference data management. There are a few software data management tools of this type that can be used to organize and parse through much of these data. Check out some of our top selections below.
One of the best examples of reference data management (RDM) that you’ll find on the market is created by industry leader TIBCO. This company is a business titan in the fields of data science software products and is an esteemed and trusted source of data management tools. TIBCO-created master data management tools are utilized by many companies across the United States who are seeking out a data management system to help them sift through endless piles of consumer-generated datasets. The attributes for the reference data management tools which TIBCO provides can help take a data-driven business to the upper echelon of whatever industry they specialize in.
With reference data, you’re using this data to classify or even categorize another type of data. So imagine you’re running a business wherein you maintain data warehouses to store endless amounts of datasets that you’ve compiled from your customers. When utilizing reference data you’re leaning into one of the many strengths which TIBCO offers with this brand of software. This data management software allows you for instance to use tools like prescriptive analysis to help find a better way forward or action needed for different data-driven scenarios. This is done by compiling data from the reference form of data management. Using RDM tools through the means of prescriptive analysis is just one of the many examples of reference data usage by industry leader TIBCO.
Collibra Reference Data Accelerator
Another type of reference data management tool which companies utilize for a variety of different reasons is the Collibra Reference Data Accelerator. This RDM tool comes second to the data management tools provided by industry leader TIBCO and performs many basic functions that come with reference data management solution software. The Collibra Reference Data Accelerator is a golden source of data stewardship which being a reference data management tool requires. The system provides features such as centralized governance, management, distribution, and stewardship. For businesses, it comes user-friendly, while also providing strong taxonomy support and mappings.
Businesses such as healthcare organizations and auto insurance providers can utilize such a system for that master data management needs. For instance, a healthcare organization might have housed data from their customer’s doctors visits in a data warehouse. Utilizing performing analytics on the reference data the Collibra Reference Data Accelerator manage classifications of this customer data in the hopes of using it for future preventative medicine research. The Collibra Reference Data Accelerator is a good selection when it comes to RDM software in 2021.
IBM Reference Data Management HUB
Reference data management is a tool that developers such as TIBCO have created to make sure that businesses seek to classify data with other data. This is done by tracking changes to reference data, and even distributing reference data to places where it can be better utilized, and researched. The IBM Reference Data Management HUB can assist with doing this. This purpose-built data management software helps a vendor to fully function with strong taxonomy support and mappings. As the software performs the tasks of data stewardship it can be easily deployed and implemented with minimal effort.