Master Data Management, also called MDM, is a technology-enabled discipline describing how businesses utilize IT tools and solutions to govern, manage, use, and share their data. As businesses scale and grow in size, the number of applications and systems used across the board will also grow. These additional databases cause a fracture in information as they create multiple versions of the same data, and there’s no way of pinpointing which version is outdated, incorrect, or incomplete. To resolve this problem, MDM ensures the uniformity, accuracy, stewardship, semantic consistency, and accountability of the shared Master Data assets. In short, MDM enables all the employees in a business to stay aligned.
So let’s take a deep dive into what Master Data is, and how it fits into Master Data Management.
1:00 What is Master Data?
1:44 What is Master Data Management?
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