Master Data Management
Master Data Management (MDM) is a comprehensive method for defining and managing an organization's critical data to provide a single point of reference. It involves processes, governance, policies, standards, and tools that consistently define and manage master data entities like customers, products, employees, and suppliers across multiple systems. The goal is to ensure data consistency, accuracy, and reliability for business operations and decision-making.
Developers should learn MDM when working in large enterprises or complex systems where data is scattered across multiple databases, applications, or departments, leading to inconsistencies and inefficiencies. It is crucial for implementing data-driven applications, ensuring regulatory compliance, and supporting business intelligence and analytics. Use cases include customer relationship management, supply chain optimization, and financial reporting where unified data views are essential.