Master data management (MDM) involves creating a single master record for each person, place, or thing in a business from across internal and external data sources and applications. This information has been de-duplicated, reconciled, and enriched, becoming a consistent, reliable source.

Once created, this master data serves as a trusted view of business-critical data that can be managed and shared across the business to promote accurate reporting, reduce data errors, remove redundancy, and help workers make better-informed business decisions.