Master data management (MDM) is a technology-enabled discipline in which business and IT work together to ensure the uniformity, accuracy, stewardship, semantic consistency, and accountability of the enterprise’s official shared master data assets.  It includes policies and procedures for defining, managing, and controlling (or governing) the handling of master data. Centralized master data management eliminates conflict and confusion that stems from scattered databases with duplicate information and uncoordinated data that might be out-of-date, corrupted, or displaced in time – updated in one place but not in another. Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise including customers, prospects, citizens, suppliers, sites, hierarchies, and a chart of accounts.

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