What is Master Data Management (MDM)?

Master Data Management (MDM) is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of the enterprise’s official shared master data assets. Master data includes things like customer, product, location, and asset data. MDM is used to create a single, consistent, and reliable source of truth for this critical data, which can then be used to improve business processes, decision-making, and regulatory compliance. It often involves data governance, data quality, and data integration techniques.