Masterdata Management (MDM) helps you create a single view accross your shared data assets like parties, products, suppliers, locations, customers, parts etc. It supports your business and IT to work together on shared data assets to ensure: uniformity, accuracy, stewardship, semantic consistency, and accountability of your shared data assets.
The purpose of Master Data Management is to bring the data from your data silo’s together in one environment. Here you can match, cleanse and correct the data into one 360 view. This view then gives a consistent view of that piece of data to all systems and users.