What is Master data management?

Many enterprises want to get their data aligned between different applications and companies and focus on data quality and data integrity. Multiple information sources and environments create 'multiple versions of the truth'. These different versions of the truth can obstruct business performance and restrain the competitiveness of the enterprise.
Even more, if you consider the multitude of business applications and environments companies use to organize their business processes.
Therefore, when searching the internet, it is not hard to comprehend why there are so many studies, courses, jobs, solutions and definitions all dedicated to master data management. If you do not manage your data correctly, it becomes invalid. Also, the generated management information does not represent the actual state of business. As a consequence, management decisions can be based on false or invalid information.
Several visions exist on master data management. A methodology that is often used is Gartner’s ‘Seven Building Blocks of Master Data Management’ framework.

The key building blocks for master data management are described by Gartner.

It presents a top-down approach where vision and strategy are defined and sponsored by senior leadership. The leadership team invest in master data management governance and a master data management

organization to ensure success. From that point, the processes to extract data, metrics to report on data, and actual infrastructure can be agreed and implemented.