Reltio targets trusted data with GenAI, prebuilt tools
The vendor’s latest update adds new customer insight capabilities including an AI assistant and industry-specific tools, all aimed at providing a trusted foundation for analysis.
Reltio on Monday launched the latest version of its Connected Data Platform, featuring an AI-powered assistant to derive new customer insights and prebuilt master data management capabilities with industry-specific tools. Additionally, Reltio Connected Data Platform 2024.2 boasts a new user interface aimed at empowering users to manage customer data seamlessly and create new data segments.
The vendor’s platform is designed to provide customers with trusted data to inform decisions. According to Matt Aslett of ISG’s Ventana Research, this update continues Reltio’s strategy of predefined data models, data integration configurations, and AI capabilities to enhance user engagement with trusted data.
Reltio specializes in data unification and has raised $270 million in venture capital to date. In 2022, the company focused on improving data quality, crucial for developing AI models. The latest iteration, Reltio Connected Data Platform 2024.1, introduced the Reltio Intelligent Assistant, a generative AI-powered NLP interface. Competitors include Informatica, Tibco, IBM, Oracle, and SAP.
Trusted data is essential as analytics and AI models and applications depend on data quality. According to Stewart Bond of IDC, poor data quality translates to poor results from AI models. With increasing automation, especially with generative AI, the complexity and volume of data necessitate high data quality from the outset.
Reltio’s platform update addresses trusted data through data quality, completeness, and timeliness, according to Venki Subramanian, Reltio’s SVP of product management. The new Customer 360 features enhance audience segmentation and activation capabilities, ensuring users have timely and relevant data.
Velocity packs, providing prebuilt industry-specific master data management capabilities, also focus on data quality and timeliness. Initially launched in February 2023, these packs now cover life sciences, healthcare, insurance, financial services, B2B data, suppliers, and product inventory.
The Reltio Business Critical Edition enhances real-time data quality and includes features such as disaster recovery configurations, data encryption with Reltio Shield, and secure data transfers via AWS PrivateLink.
Reltio has repositioned itself, expanding beyond master data management to treat data as a product, integrating tools like velocity packs and Customer 360 features. The latest updates further this evolution and enhance customer maturity pathways, according to Bond and Aslett.
The intent of Reltio’s platform remains to provide trusted data, unifying and cleansing complex data from multiple sources in real-time using machine learning and automated validation rules. The latest version underscores Reltio’s commitment to accelerate the adoption and engagement with trusted data.
Source: Reltio targets trusted data with GenAI, prebuilt tools.
