Master data management (MDM) is business context data that contains details (definitions and identifiers) of internal and external objects involved in business transactions (e.g., customer, product, reporting unit, NPS, market share). It explains the context within which you do business and holds the business rules. Master data management is a series of processes put in place to ensure that reference data is kept up to date and coordinated across an enterprise. Master data management is the organization, management and distribution of corporately adjudicated information with widespread use in the organization.
