Master data management (MDM) refers to data governance principles and practices which an organization may choose to implement – using a combination of people, processes and technology – to reduce ambiguity causing wasted time to maximize the value of their data assets.
For organizations that rely on data driving their business, Master Data Management (MDM) is a necessary activity – but when done well, can be an advantage in certain use cases like analytics and business insights – as well as contributing to the application of F.A.I.R. Data Principles.