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