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Master Data Management - MDM

  • Master Data Management (MDM) is a set of tools and processes that aim to
    deliver a single clean and consistent view of each master data entity (product,
    customer, employee, financial accounts, etc.) that exists within the
    organization

  • MDM refers to the process of creating and managing data that an organization ideally should have as a single master copy, called the master data. Usually, master data can include customers, vendors, employees, and products, but can differ by different industries and even different companies within the same industry. MDM is important because it offers the enterprise a single version of the truth. Without a clearly defined master data, the enterprise runs the risk of having multiple copies of data that are inconsistent with one another