Master Data Management

n.

Pronunciation

/ˈmæstər ˈdeɪtə ˈmænəʤmənt/

Acronym

MDM

Definition

A method of maintaining, organizing and sharing all data necessary for a company or organization.

Master Data Management can provide a trusted single data source across all domains of a business, such as information on employees, customers, and suppliers. Its uses include updating data which changes slowly or irregularly and syncing up information used in multiple areas of the business. Product Information Management (PIM) is a subset of Master Data Management focusing on products, usually with marketing applications--whereas the goal of Master Data Management is to increase overall business efficiency and data distribution.

Category

Data Governance

Related Terms

Application Data Management, Master Data, Digital Transformation

Product Information Encyclopedia

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