Master data management (MDM) allows companies to realize the full potential of their most valuable asset: data. MDM provides a single, accurate source of critical business information like customer, product, and supplier data to support key processes and transactions. By creating a unified view of master data, MDM addresses common data problems such as quality issues, data silos, and lack of governance that can negatively impact business decisions and compliance. The benefits of MDM include improved customer experience, increased efficiency, better decision making through consistent information, and increased revenue.