In short
Master data is the core reference data an organization's systems share, such as customer, vendor, product and employee records. Master data management keeps it accurate, consistent and controlled.
Key takeaways
- Changes to master data, such as a vendor's bank account, need authorization and review.
- Duplicate vendor or customer records can hide fraud or errors.
- Transaction data refers to master data, so errors spread across many transactions.
Where it's tested
ISC: Data Management & Governance — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
Which dimension of data quality is violated when the same customer appears three times in a master file under slightly different names?