Understanding Master Data Management
Master Data Management (MDM) is a crucial discipline and technology that provides organizations with a trustworthy view of their data, particularly focusing on key business entities like products, suppliers, and customers. To comprehend MDM, it's essential to define master data, which encompasses vital business information within an organization. This data includes but is not limited to product details, supplier information, and customer profiles. By implementing MDM solutions, businesses can ensure that their data is accurate, consistent, and well-managed across various enterprise applications such as ERP, CRM, PLM, EPM, and more.