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What is RDM (reference data management)?

Why RDM?

Simple as that sounds, the impact of poor or non-existent reference data management (RDM) is profound. Errors in reference data will ripple outwards affecting quality of master data in each domain, which in turn affects quality in all dependent transactional systems. Because reference data is used to drive key business processes and application logic, errors in reference data can have a major negative and multiplicative business impact. Mismatches in reference data impact on data quality affect the integrity of BI reports and also are a common source of application integration failure (see Figure 2 “The ‘Tsunami Effect’ of *Bad* Reference Data). Additionally, management of such reference data is needed in both operational and analytical MDM use cases where such capability often used to provide attributes, hierarchies and KPIs.

Key Multi-Domain RDM Vendors

Within the realm of commercial RDM solutions, there are two main families: "multi-domain RDM," and "real-time RDM". "Multi-domain RDM" solutions are non-industry specific solutions that can span functional areas (finance, risk and compliance, human resources) and content types (ISO country codes, and other non-volatile reference data to be mastered and shared). "Real-time RDM" is typically a very high performance solution for use in the capital markets industry (brokers, asset managers, and securities services firms) as well as command and control military/intelligence markets.

Ataccama Reference Data Manager; Collibra Reference Data Accelerator; InfoSphere Reference Data Management (RDM Hub); Informatica RDM Accelerator; Kalido; Microsoft RDM (MS EXCEL Add-In for MDS, Profisee); Oracle Hyperion DRM; Orchestra Networks EBX5; Software AG WebMethods OneData; Teradata LDRM ...