We consider the holographic Friedman-Robertson-Walker (hFRW) universe on the 4-dimensional membrane embedded in the 5-dimensional bulk spacetime and fit the parameters with the observational data. In order to fully account for the phenomenology of this scenario, we consider the models with the brane cosmological constant and the negative bulk cosmological constant. The contribution from the bulk is represented as the holographic dark fluid on the membrane. We derive the universal modified Friedmann equation by including all of these effects in both braneworld and holographic cutoff approaches. For three specific models, namely, the pure hFRW model, the one with the brane cosmological constant, and the one with the negative bulk cosmological constant, we compare the model predictions with the observations. The parameters in the considered hFRW models are constrained with observational data. In particular, it is shown that the model with the brane cosmological constant can fit data as well as the standard $Lambda$CDM universe. We also find that the $sigma_8$ tension observed in different large-structure experiments can be effectively relaxed in this holographic scenario.
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