What does Master Data Management mean?
Definitions for Master Data Management
mas·ter data man·age·ment
This dictionary definitions page includes all the possible meanings, example usage and translations of the word Master Data Management.
Wiktionary
master data managementnoun
A set of processes and tools which centrally and persistently define the non-transactional entities of an organization, with the objective to collect from, and supply to various processes, unique instances of each entity.
Wikidata
Master data management
In computing, Master Data Management comprises a set of processes, governance, policies, standards and tools that consistently defines and manages the master data of an organization. An MDM tool can be used to support Master Data Management by removing duplicates, standardizing data, incorporating rules to eliminate incorrect data from entering the system in order to create an authoritative source of master data. Master data are the products, accounts and parties for which the business transactions are completed. The root cause problem stems from business unit and product line segmentation, in which the same customer will be serviced by different product lines, with redundant data being entered about the customer and account in order to process the transaction. The redundancy of party and account data is compounded in the front to back office life cycle, where the authoritative single source for the party, account and product data is needed but is often once again redundantly entered or augmented. MDM has the objective of providing processes for collecting, aggregating, matching, consolidating, quality-assuring, persisting and distributing such data throughout an organization to ensure consistency and control in the ongoing maintenance and application use of this information.
Numerology
Chaldean Numerology
The numerical value of Master Data Management in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of Master Data Management in Pythagorean Numerology is: 6
Translations for Master Data Management
From our Multilingual Translation Dictionary
- Gestion des données de référenceFrench
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"Master Data Management." Definitions.net. STANDS4 LLC, 2024. Web. 30 Apr. 2024. <https://www.definitions.net/definition/Master+Data+Management>.
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