MDM : What is Master Data ?

1)Master data is data shared across computer systems in the enterprise.

2)Master data is the dimension or hierarchy data in data warehouses and transactional systems

3)Master data is core business objects shared by applications across an enterprise

4)Slowly changing Reference data shared across systems

5)Master data is data worth managing

Master Data Could be related to the below subject areas like :
Customer
Vendor
Supplier
Product
Geography


Master Data is the Data which is not changed very frequently in the enterprise but the maintenance and management of the master data is really very important for the smooth operation of the enterprise.