Master Data Governance refers to the set of practices, policies, and processes used to manage and oversee an organization’s master data to ensure its accuracy, consistency, and reliability. It involves defining roles, responsibilities, and procedures for handling master data across the enterprise. Key aspects include:
- Data Stewardship: Assigning roles to oversee data quality and compliance.
- Data Policies: Establishing rules for data creation, maintenance, and usage.
- Data Quality Management: Ensuring data is accurate, complete, and up-to-date.
- Compliance and Security: Implementing measures to protect data and adhere to regulations.
In essence, Master Data Governance Definition ensures that master data is effectively managed, consistent, and serves as a reliable foundation for business operations and decision-making.