Master Data Management (MDM) Platform Recommendations for Pharmaceutical Companies

Goals

First, to provide a recommendation for a customer master data management (MDM) platform suitable for a top pharmaceutical company. Said company has both retail and non-retail customers and operates in a broad range of therapeutic areas and, therefore, needs a system with similar flexibility. That is, the platform must be suitable for housing all types of customers, including but not limited to prescribers, non-prescribing healthcare workers, physician networks, administrative staff, and executives. The system also needs to make data management easy while integrating both internal and purchased data sources, improving the quality and efficiency of the customer database, and manage workflows.

Second, to provide case studies of large pharmaceutical companies that use MDM software, including which tool they selected and why. The case studies should be presented in the form of a slide show and include, as available, key cost comparisons, features, and restrictions as well as other relevant data.

The pharmaceutical company in question is partial to Reltio and currently uses Informatica, so both options must be evaluated alongside any other recommendations. Gartner and Forrester's reports are a preferred source, but research need not be limited to them.

Early Findings

  • Gartner has a list of top master data management (MDM) systems. While it offers some segmentation by industry, the pharmaceutical industry is not among them; healthcare, however, is. Unfiltered, the top three recommendations are:
    • Oracle Data Relationship Management
    • Informatica MDM Cloud Edition
    • Civica Multivue
    • Informatica Customer 360
    • IBM MDM Cloud
  • When filtered for healthcare:
    • Informatica Customer 360
    • Viamedici EPIM
    • Informatica MDM
    • Semarchy xDM
    • Profisee Platform
  • Gartner rates Informatica very highly on its "magic quadrant" chart as an MDM industry leader, pulling ahead of TBCO Software, which is in second place. Reltio is considered a niche player in comparison.
  • While considered a niche player by Gartner, Reltio claims that the client list for Reltio Connected Customer 360 includes "many of the top 10 pharmaceutical manufacturers, financial services and insurance companies, and global technology companies."
    • At the risk of making an assessment based on a company's marketing copy, it is possible that Reltio's "niche" status is because it has very narrowly focused its efforts on certain industries. Ergo, performing behind MDM platforms with a broader reach may not be a strike against Reltio for a top pharmaceutical firm.
    • Stibo Systems has argued that Gartner's models are antiquated, though given their position on Gartner's chart, this may be a self-serving argument.
  • Reltio claims it was named a leading MDM provider in "The Forrester Wave™: Master Data Management, Q1 2019" report.
    • Forrester's Q1 2020 Data Management report is pay-locked, with a price tag of $2995. The abstract has no useful data. It's 2019 report is similarly pay-locked.
  • A quick survey finds that relevant case studies are reasonably abundant, though the quality of the information in them varies.

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