Master Data Definition
Master data is the core data that represents an organization’s key entities, such as customers, products, employees, and suppliers. It also includes basic reference data, such as product dimensions and geographic codes. Master data is essential for an organization to function and make decisions.
Organizations must carefully define their master data to ensure that it is accurate, consistent, and complete. The process of defining master data is known as master data definition or master data governance. A well-defined master dataset can be a powerful asset that enables better decision-making and improved operational efficiency.
