master-data

Vocabulary Word

Definition

'Master data' is a term used in business or computing to describe the most important, frequently used data that is shared by different parts of an organization. It's like a book of essential facts which everyone relies on.

Examples in Different Contexts

In data governance, 'master data' management involves the policies, procedures, and standards used to manage and maintain critical business data. A data governance officer might discuss, 'Effective master data management ensures that our organization's data remains accurate, consistent, and available across all systems.'

Practice Scenarios

Business

Scenario:

We need to make sure all our customer records are up-to-date. Could you collaborate with the data department on this task?

Response:

I'll pull the master data to check for any modifications required in our existing customer records.

Operations

Scenario:

We need to estimate delivery times for our new product line. Would you be able to gather the necessary data for these calculations?

Response:

I can use the master data to estimate delivery times which can help us with better planning.