Master data management also known as MDM is a process of creating and managing all critical data to one file as a single master copy i.e. master data. In a larger organisation there are many different departments. In each departments there are many number of software systems and each system having large amount of data to share or to use. Overall a huge amount of data are flowing here and there in the whole organisation. All these data need to connect in one file, called a master file that would provide a common point of reference. So, we can say that “Master data is basically a shared master copy of data from different departments such as product, suppliers, employee and customer used by several applications within an organisation”.
Master Data Management (MDM) is a method to define and manage all critical data of an organization to one file i.e. master file to provide a single point of reference. To define and manage those critical data, MDM includes the processes, governance, policies, standards and tools. The benefits of MDM increases by increasing number of department, resources and related data. So, Master data is a subset of Big data and while analysis MDM provide a starting point. Applying MDM gives many benefits while leveraging Big Data.