Master Data Management
Master Data Management (MDM) is the collective application of governance, business processes, policies, standards and tools facilitate consistency in data definition.
Master Data Management (MDM) refers to the process of creating and managing data that an organization must have as a single master copy, called the master data. Usually, master data can include customers, vendors, employees, and products, but can differ by different industries and even different companies within the same industry. MDM is important because it offers the enterprise a single version of the truth. Without a clearly defined master data, the enterprise runs the risk of having multiple copies of data that are inconsistent with one another.
Master Data Management vs. Data Warehousing
Based on the discussions so far, it seems like Master Data Management and Data Warehousing have a lot in common. For example, the effort of data transformation and cleansing is very similar to an ETL process in data warehousing, and in fact they can use the same ETL tools. In the real world, it is not uncommon to see MDM and data warehousing fall into the same project. On the other hand, it is important to call out the main differences between the two:
Common topics on MDM include:
- MDM History
- MDM Features
- MDM Maturity
- Master Data Categories
- MDM Implementation Patterns
- Master Data Management Solutions
- Master Data Management Technology