Master data
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Master data, or reference data, is information that is key to the operation of business and is the primary focus of the Information Technology (IT) discipline of Master Data Management (MDM). This key business information may include data about customers, products, employees, materials, suppliers, etc. which often turns out to be non-transactional in nature. In this regard, master data can support transactional processes and operations, but its use is certainly not limited to such (analytics/reporting is another area greatly dependent on an organization's master data). Master data is often used by several functional groups and stored in different data systems across an organization and may or may not be referenced centrally; therefore, the possibility exists for duplicate and/or inaccurate master data.
Thus Master Data is that persistent, non-transactional data that defines a business entity for which there is, or should be, an agreed upon view across the organization.
[edit] Master data and Master reference data
Master data is also called Master reference data. This is to avoid confusion with the usage of the term Master data for original data, like an original recording (see also: Master Tape).
