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Universal Data Model

In business, master data management (MDM) is a method used to define and manage the critical data of an organization to provide, with data integration, a single point of reference.[1] The data that is mastered may include reference data - the set of permissible values, and the analytical data that supports decision making.[2]

In computing, a master data management tool can be used to support master data management by removing duplicates, standardizing data (mass maintaining),[3] and incorporating rules to eliminate incorrect data from entering the system in order to create an authoritative source of master data. Master data are the products, accounts and parties for which the business transactions are completed. The root cause problem stems from business unit and product line segmentation, in which the same customer will be serviced by different product lines, with redundant data being entered about the customer (a.k.a. party in the role of customer) and account in order to proc