master data management (MDM)
Master data management (MDM) is a comprehensive method of enabling an enterprise to link all of its critical data to one file, called a master file, that provides a common point of reference. When properly done, MDM streamlines data sharing among personnel and departments. In addition, MDM can facilitate computing in multiple system architecture s, platform s and application s.
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The benefits of the MDM paradigm increase as the number and diversity of organizational departments, worker roles and computing applications expand. For this reason, MDM is more likely to be of value to large or complex enterprises than to small, medium-sized or simple ones. When companies merge, the implementation of MDM can minimize confusion and optimize the efficiency of the new, larger organization.
For MDM to function at its best, all personnel and departments must be taught how data is to be formatted, stored and accessed. Frequent, coordinated updates to the master data file are also essential.
This was last updated in November 2010
golden record A golden record is a single, well-defined version of all the data entities in an organizational ecosystem. Sometimes it’s called. See complete definition master data Master data is the core data that is essential to operations in a specific business or business unit. See complete definition metadata management Metadata management is the oversight of data associated with data assets to ensure that information can be integrated, accessed. See complete definition