Master Data Governance
Definition - What does Master Data Governance mean?
Techopedia explains Master Data Governance
Consider, for example, a "places, people and things" approach to master data. Client identifiers, the "people," are references that get used in CRM systems, accounting programs, etc. Likewise, product identifiers, the "things" of the system, get referenced by these same programs. Some definitions of master data exclude transactional data, the "places," because, in financial transactions, credit card processing systems simply use the core "people" and "things" identifiers to document a transaction.
Master data governance then differs from master data management mostly in scope. IT experts use the term master data management to describe the technical handling of data, for example, the passage of data through a network, whereas they often use the term master data governance for a big-picture approach, one that takes in security considerations, the essential "value" of the master data, and that describes how to curate and protect the data in the field.
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