Big data is a growing field in the information technology world. Indeed, it grows more popular every day as companies of all sizes vie to become the most efficient and use advanced analytics to provide the best customer experience.
After all, consumers drive the markets, so it’s incumbent upon small and large companies to keep their ears to Wall Street, and there’s no better tool for that than big data. Indeed, knowledge is power, and data is your company’s most valuable asset. Implementing the right data management tools can significantly increase your business intelligence (BI) ROI and help your company move to the forefront of its industry.
Data science is a vast field, and choosing the right data science solutions can be challenging for business owners. And the last thing you want is to miss out on a revolutionary big data tool or invest in one that isn’t right for your business. That’s why it’s critical to do your due diligence before investing thousands of dollars in BI tools. The Gartner Magic Quadrant is one of the best research publications related to information technology, and it can help you find the right master data management solutions for your company. Continue reading to get answers to some frequently asked questions about the Gartner MDM Magic Quadrant.
Who is Gartner?
There are plenty of research publications you can read to get a snapshot of MDM industry leaders, so why should you choose the Gartner Magic Quadrant? Better yet, who is Gartner? Gartner is an IT research and consulting organization with decades of experience providing expert IT advice to some of the largest companies in the world. So, you can see why many business leaders turn to the Gartner Master Data Management Magic Quadrant to decide which MDM platform is best for their company’s business processes.
What is master data management (MDM)?
Data can be broken down into transactions data, analytical data, and master data. Master data is the data to which transactional and analytical data refer when they provide in-depth analytics insights. Master data is static data like a customer’s name or a type of product. One thing that separates master data from other types of data is that it stays the same for the most part, which is what makes it master data.
What is the Gartner Magic Quadrant?
The Gartner Magic Quadrant is a research publication that details companies that are the most present in various IT services. Gartner uses a proprietary qualitative analytics method to rate and rank companies on the Magic Quadrant. Nest, we’ll discuss how to use the Magic Quadrant to determine the industry leaders in MDM and data quality.
How does the Magic Quadrant work?
As the name Magic Quadrant suggests, the Gartner Magic Quadrant breaks IT vendors down into four categories, and those categories are leaders, challengers, visionaries, and niche players. Gartner uses completeness of vision and ability to execute as their metrics for determining which companies go into the leader’s quadrant and other quadrants as well.
Gartner has been the leading IT research organization for decades, so it’s safe to assume that you can trust their judgment when it comes to MDM solutions. TIBCO was just listed in the leader quadrant of the Magic Quadrant for the sixth time in a row, speaking to their status as titans in the burgeoning data management industry. One of the trademarks of Gartner master data management leaders is the ability to execute, which describes a company’s ability to provide viable solutions in a given field, and TIBCO has some of the highest ratings in that category. As you can see, the Gartner Magic Quadrant is a great way to find the best data management tools, and TIBCO is clearly a leader in that field.