Master Data
Core ConceptsDefinition
Master data refers to the core data that is essential for operations within an organization, and is used across multiple business processes.
Detailed Description
Master data is the consistent and uniform set of identifiers and extended attributes that describes the core entities of the organization, including customers, suppliers, products, and employees. This type of data is used in conjunction with transactional data to provide context and enable business processes. Accurate and well-maintained master data is critical for ERP systems as it ensures the integrity and reliability of all other dependent data and processes.
Key Features
- Provides context for transactional data
- Supports decision-making through consistent data definitions
- Uniformity across systems and processes
Common Modules
Customer Relationship Management (CRM)
Handles customer-related master data such as contact details and sales history.
Human Capital Management (HCM)
Oversees employee records, job classifications, and payroll data.
Supply Chain Management (SCM)
Manages supplier data, product details, and inventory information.
Popular Implementations
Oracle Master Data Management
Oracle's system for centralizing and maintaining master data across the enterprise for improved data accuracy and usability.
SAP Master Data Governance
SAP’s solution for managing master data to ensure data quality and consistency across all SAP and non-SAP systems.