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Master Data Management defined by 5 key practices! Master data management (MDM), briefly is where an organization aims to manage their data from a single point of reference. This is becoming a growing trend as the number of companies using it are increasing rapidly. In fact, GlobeNewsWire reports “the global master data management market is expected to grow from $9,440.4 million in 2015 to $26,799.6 million by 2020, at a compound annual growth rate of 23.2% during the forecast period from 2015 to 2020.” For MDM to actually work for any company, the company must diligently follow these simple practices: 1. Active team support The initial step is to gain the support of all the employees and the management team and have them involved in the process. 2. When implementing MDM, it is important to maintain a high quality of the data that is used for it. 3.

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