Capterra Glossary
Master Data Management (MDM)
MDM, or master data management, consists of all processes, technology, and tools that are used to gather raw data and transform it to a single source of information. Through this process, SMBs' most sensitive and critical data can be stored, categorized, synchronized, and improved. MDM relies heavily on machine learning and artificial intelligence (AI) to identify master data and integrate it where it is needed, across many different business applications. In addition to ensuring the quality of data, MDM can improve compliance, customer experience, and overall levels and quality of productivity.
What Small and Midsize Businesses Need to Know About Master Data Management (MDM)
All of the information included within the “master data” category is essential information. Because of this, SMBs should manage it separately from other forms of data that they may collect, analyze, and store. This helps prevent errors and inconsistencies that are common when master data is accessed or managed by multiple departments or employees. In turn, this allows for more thorough decision-making.
Related Terms
- Big Data
- Analytics and Business Intelligence (ABI)
- Business Analytics
- Digital Disruption
- Advanced Technology
- Autonomous Vehicles
- Predictive Analytics
- Artificial Intelligence (AI)
- Data And Analytics
- Data Mining
- Clickstream Analysis
- Information Delivery
- Real-time Analytics
- Computer-brain Interface
- Business Intelligence (BI) Services