Master data management ||This article needs additional citations
for verification. (April 2012)| In computing, Master Data
Management (MDM) comprises a set of processes, governance,
policies, standards and tools that consistently defines and
manages the master data (i.e. non-transactional data entities)
of an organization (which may include reference data). An MDM
tool can be used to support Master Data Management by removing
duplicates, standardizing data (Mass Maintaining), incorporating
rules to eliminate incorrect data from entering the system in
order to create an authoritative source of master data. Master
data are the products, accounts and parties for which the
business transactions are completed. The root cause problem
stems from business unit and product line segmentation, in which
the same customer will be serviced by different product lines,
with redundant data being entered about the customer (aka party
in the role of customer) and account in order to process the
transaction. The redundancy of pa