Master Data Management (MDM)

A method of managing the organization's critical data.

What is Master Data Management (MDM)?

Master Data Management (MDM) is a comprehensive approach to managing and ensuring the accuracy, consistency, and quality of an organization's critical data assets. It involves creating a single, unified view of key data entities such as customers, products, and suppliers across an organization to provide a common reference point for all data-related activities. MDM aims to address the challenges of data fragmentation, duplication, and inconsistencies by establishing standardized processes and rules for creating, updating, and maintaining master data. By centralizing control over important data elements, MDM enables better decision-making, operational efficiency, and regulatory compliance. It also facilitates data integration across different systems and applications, enabling seamless data sharing and interoperability. Through data governance, data stewardship, and data quality management practices, MDM helps organizations leverage their data as a strategic asset, driving improvements in customer relationships, operational performance, and overall business outcomes.