Features of Master Data Management (MDM)

Master Data Management (MDM) is a comprehensive approach to managing and harmonizing

critical data across an organization to ensure consistency, accuracy, and reliability. It involves the
creation, aggregation, maintenance, and distribution of an organization's most important data to
provide a single, trusted version of truth. Below are the key features of Master Data Management:

1. Centralized Data Repository: It establishes a central repository or master data hub where all
critical data elements are stored, managed, and maintained.
2. Data Integration and Aggregation: MDM integrates data from various sources (csv, json,
databases, xml, etc.) and departments within an organization to create a unified and
comprehensive view of master data.
3. Data Quality Management: MDM focuses on ensuring high-quality data by implementing
data validation, standardization, cleansing, and enrichment processes.
4. Deduplication: User can deduplicate all customer data records based on schema, selection
on identifying fields and gather the results of the deduplication run on an adhoc basis.
5. Fuzzy match: User can link records that are likely to refer to the same entity despite slight
differences or errors in the data.
6. Exact match: User can group data based on exact match on specific fields selected by the
user.
7. Address Cleansing: This process involves cleaning, correcting, and standardizing address data
to ensure accuracy and consistency. It is a crucial step in data management, especially for
organizations that deal with large volumes of address information, such as retail companies,
logistics providers, government agencies, and financial institutions.
8. Data Governance: MDM establishes data governance policies, guidelines, and processes to
ensure that data is properly managed, secured, and compliant with regulatory requirements.
9. Data Security and Access Control: MDM implements robust security measures to protect
sensitive master data from unauthorized access, ensuring that only authorized personnel can
view or modify specific data elements.
10. Data Analytics and Reporting: MDM supports data-driven decision-making by providing
accurate and reliable data for analytics and reporting purposes. It ensures that organizations
have access to trustworthy data insights.