Master Data Management (MDM) is a comprehensive approach to managing an organization's critical data assets. It ensures that the data is accurate, consistent, and up-to-date across various systems and departments. By creating a single, reliable source of truth, MDM helps organizations make informed decisions and improve operational efficiency. MDM involves processes, governance, and tools that help maintain the quality of data related to key entities, such as customers, products, and suppliers. This structured management of data not only enhances data integrity but also supports compliance with regulations and improves overall business performance.