In business operating, master data management comprises the functions, governance, policies, standards and equipment that consistently define and manage the critical data of organization to provide a single point associated with reference. Master data management has the aim of providing processes for collecting, aggregating, coordinating, consolidating, quality-assuring, persisting and circulating such data throughout a corporation to ensure persistence and control in the ongoing maintenance and application utilization of this information. Master Data Management is often a methodology for researching and implementing settings business rules around data.
Advantages of Master Data Management
