Master Data Master data is the consistent and uniform Increasingly a business requires master core dataset within an enterprise that describes entities to support analytical applications and entities around which business is conducted. not just serve as a reference. This dynamic view Master data includes hierarchical or dimensional of master data requires probabilistic inference data that categorizes core objects of business of data characteristics, which leads to profiles for analytical or reporting purposes. rather than records. This definition, accurate as it is in the context Thirdly, this definition does not refer to of traditional MDM, is limiting in the digital age. the interactions and relationships that exist The “consistent and uniform” designation implies within the data entities across an enterprise. that the data represents the single version of the The focus is on logical and integrated models truth, i.e. a golden record. However, it does not of structured datasets. In the digital age, cover external data sources that provide context datasets now increasingly include unstructured in a dynamic manner. Secondly, it also implies data in batch, real-time and interactive modes that the data is infrequently changed. Is that requiring contextual analytical models. really a positive feature in the digital age? Meet Your Digital Master 5