Master data is “data about the business entities that provide context for business transactions.” Examples of master data are customer, patient, citizen, person of interest, product, vendor, supplier, chart of account, and similar. We extend this definition to include analysis; thus, master data is data about the business entities that provide context for business transactions and analysis.
Master data management (MDM) is a technology-enabled discipline in which business and information technology work together to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of an enterprise’s official shared master data assets.
As data complexity continues to increase—and the value of high quality, high integrity, and high trust data is increasingly recognized—we expect that this trend will continue into the future.
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