Master Data Management
MDM is the acronym for Master Data Management.
A set of processes and technologies used by businesses to manage their critical data assets and ensure the accuracy, consistency, and completeness of their data across different systems and applications.
MDM typically involves creating and maintaining a central repository of master data, which is a set of common data elements and definitions that are used across different systems and applications. This can include customer data, product data, employee data, financial data, and other types of critical business data.
MDM is important because it helps businesses to improve the quality and reliability of their data, reduce data duplication and inconsistencies, and ensure that their data is accurate and up-to-date. This can help businesses to make more informed decisions, improve their operations, and drive better business outcomes.
MDM is typically implemented using a combination of technologies, such as data integration tools, data quality tools, and data governance frameworks. MDM solutions can be customized to meet the specific needs of different businesses, and can be integrated with a range of different systems and applications.
Overall, MDM is an essential part of modern data management, helping businesses to manage their critical data assets more effectively and drive better business outcomes.
- Abbreviation: MDM