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Master Data Management Glossary

by Alison Weiss, August 2014

Data governance. The specification of decision rights and an accountability framework to encourage desirable behavior in the valuation, creation, storage, use, archiving, and deletion of data and information.

Data quality. Tools, processes, and disciplines to assess master and transactional data against corporate policies for validation, correction, transformation, enrichment, classification, match, and merge.

Master data. The critical business information supporting the transactional and analytical operations of the enterprise.

Master data management. A combination of applications and technologies that consolidates, cleans, and augments corporate master data and synchronizes it with all applications, business processes, and analytical tools to improve operational efficiency, reporting, and fact-based decision-making.

Structured data. Any data that resides in a fixed field within a record or file. It includes data contained in relational databases and spreadsheets.

Unstructured data. Information that either does not have a predefined data model or is not organized in a predefined manner. Unstructured information is typically text-heavy but may contain dates, numbers, and facts.

Alison Weiss is a frequent contributor to Profit.

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