MDM believes SA firms will benefit from Collibra’s focus on applying AI to Data governance and additional funding

Master Data Management (MDM) partner, Collibra, has announced new products and additional funding for its market leading data governance platform. Founded in 2008, Collibra provides an easy-to-use business application that automates any data-related business process for enterprise users and knowledge workers.

At the Strata + Hadoop World Conference in New York on September 29, Collibra provided a preview of a new product that uses artificial intelligence and machine-learning algorithms to automatically link the huge volume of data assets to approved business terms, providing an entirely new way to browse, search and discover big data sets, automate the process of tracking and complying to data requests, on-boarding new data sets, and certifying KPIs and reports. It makes it easier for business users to understand what data is available, where to find it, and how to use it.

“As data complexity has exploded in recent years, it has become critical for companies to easily find and understand reliable, high-quality sources for decision-making, analytics and regulatory reporting,” says Collibra CEO Felix Van de Maele. “Collibra provides an end-to-end solution that enables data stewards, Chief Data Officers, and every knowledge worker the ability to trust data and maximise the value of their company’s data.”

The company has also recently announced $23million in additional funding that will be used to expand the platform’s capabilities and maintain its leadership position. The Collibra Data Governance Centre covers all key data governance and stewardship activities.  It helps organisations define and manage business glossaries and code hierarchies to understand what their data means, catalogue data sets so that they can be easily found and consumed, document how the data flows through the organisation to understand the impact of changes, specify policies and quality rules, assign clear responsibilities, and automate various review and approval processes to ensure policy and regulatory compliance. It also integrates seamlessly with existing data management tools for technical users, as well as big data and analytics platforms.

“South African businesses are following the world’s leading companies in selecting Collibra to support business engagement for Data Governance,” says Gary Allemann, MD at Master Data Management.

“Large organisations struggle with huge numbers of systems, terms and data assets. New investments in big data only increase this complexity. Collibra is working actively to reduce this complexity and give control back to the business.”

Collibra’s customers include five of the 10 world’s largest banks and many of the leading brands in the Technology, Healthcare, Retail, Telecom and Education sectors

• Technology companies use Collibra to certify KPIs and reports to make sure their executives trust them for decision-making;

• Banks use Collibra for BCBS 239 and IFRS 9 compliance, as regulators force them to put in place stringent Data Governance programs;

• Healthcare providers use Collibra for cohort identification in population health management, and analytics and quality measures for Meaningful Use;

• Retail companies use Collibra to significantly shorten the time it takes to add new products to their product databases.