Master Data Management

Definition :
Master Data Management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file that provides a common point of reference.

When properly done, MDM streamlines data sharing among personnel and departments. In addition, MDM can facilitate computing in multiple system architectures, platforms and applications.

Master Data Management seeks to ensure that a business does not use multiple (and potentially inconsistent or inaccurate) versions of the same master data in different parts of its operations.