Master data management (MDM):
Master Data is the shared business critical information within an enterprise about customers, suppliers and products that supports the transactional and analytical
operations. Accurate Master Data speeds up product introduction cycles, improves ability to cross sell/up sell, and tightens regulatory compliance to customer privacy and vendor listing. It also
enables a seamless customer experience across channels, brands, and functions. Master Data Management puts in place tools, processes, and controls that reduce errors, improve data usability and
quality, as well as reliability of Master Data.