Master Data Management and Data Governance

Master Data Management (MDM) is a comprehensive approach and set of processes used to create, manage, and maintain the critical data entities of an organization. It involves the identification, definition, and governance of master data, which represents the key business entities such as customers, products, suppliers, locations, and more.

The goal of MDM is to ensure the consistency, accuracy, and integrity of master data across different systems and applications within an organization. By establishing a single, trusted source of master data, MDM enables better decision-making, improves operational efficiency, and enhances data quality.