In this chapter, we've learned the following key points:
Master data can quite simply be thought of as electronic data that represents any noun belonging to or interfacing with the business
Master Data Management is a set of tools and processes that aim to deliver a single clean and consistent view of each master data entity that exists within the organization
There are two difference uses for MDM in an organization—namely Analytical MDM and Operational MDM
There are three different architectural approaches to MDM, namely the Transaction Hub, Registry, and Hybrid approaches
Data governance is set up to provide control over the valuable master data asset, by defining a number of policies and procedures
Data stewards are subject domain experts who maintain the master data according to the practices set out by data governance
An MDM project needs strong leadership to ensure that the whole organization buys into the MDM program
In the next chapter, we will introduce SQL Server 2008 R2 Master Data Services itself, and take a high level look at the features it has to aid with an MDM initiative.