[WEBINAR] The New Normal: Dealing with the Reality of an Unsecure World

Master Data Management (MDM)

Definition - What does Master Data Management (MDM) mean?

Master data management (MDM) refers to the management of specific key data assets for a business or enterprise. MDM is part data management as a whole but is generally focused on the handling of higher level data elements, such as broader identity classifications of people, things, places and concepts.

Techopedia explains Master Data Management (MDM)

Some theories of business management begin with the master data, valuable data units that can be linked to other data in various ways. Transactional data, data about official transactions that is often formalized in transactional documents, can establish relationships between master data units. A broader category of free data that is not codified in formal business documents can also be applied to a more detailed study of master data relationships. In addition, metadata can help to provide pointers for single data assets within a complex data storage infrastructure.

Like other kinds of data management, good master data management relies on excellent protocols, as well as sufficient hardware and software assets. Strategic data management will use guiding principles and time-tested methodologies to actively promote the efficient use of business data, which, as experts point out, is becoming more valuable to many businesses than physical assets like vehicles and equipment. Better use of data can make a company more appealing to investors, streamline operations to increase revenue, and even save a business from financial troubles. This is one of the reasons why a concept like master data management gets so much attention in today’s corporate world.

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
"Techopedia" on Twitter

Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Free Whitepaper: The Path to Hybrid Cloud
Free Whitepaper: The Path to Hybrid Cloud:
The Path to Hybrid Cloud: Intelligent Bursting To Amazon Web Services & Microsoft Azure
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.