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Frequently asked questions about master data management

Have you heard of the term “master data management” (MDM) but aren’t sure what it is and how it’s useful? This FAQ sheet answers your questions about what MDM is, the role that data quality plays, and how to get started.

What is master data management (MDM)?

Master data is data that needs to be shared by multiple systems or business processes, and it is shared in a type of master data repository. This repository can include both analytical and reference data. Examples of master data include customer, product, asset, location, employee, organizational units, or chart of accounts data.

Master data management (MDM) is a concept where applications are used to house a comprehensive master data repository of all critical data, which acts as a common point of reference. The data is used to support business intelligence and create a reference that shows transactions and analysis. MDM itself isn’t a technology, however; it is an ongoing program that includes data quality, data intelligence, and data modeling, among other activities.

Download the tip sheet to learn more about master data management including:

  • How is MDM useful for my organization?
  • How do MDM and data quality relate to each other?
  • Are MDM and Single Customer View the same thing?
  • Can small businesses implement MDM?
 

Still have questions about master data management and how we can help you with the data quality piece? Contact one of our data quality experts today!