What is MDM?

Question

What is MDM?

Accepted Answer

MDM stands for Master Data Management. It is a process that ensures the consistency and accuracy of an organization's critical data.

MDM is a method of managing and organizing data to create a single, reliable source of truth.
It involves creating and maintaining a central repository of master data, which includes information about customers, products, suppliers, etc.
MDM helps in eliminating data duplication, improving data quality, and providing a unified view of data across different systems and applications.
It enables organizations to make informed decisions, enhance operational efficiency, and comply with regulatory requirements.
For example, a company may use MDM to ensure that customer data is consistent and up-to-date across all its departments and systems.

Accepted Answer

Master Data Management is used to create an accurate record from multiple records from different sources for same fields especially customer records

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