Master Data Defined
Reference Data is basic business data used in a single application, system, or process.
Master Data is a single source of basic business data used across multiple systems, applications, and/or processes.
Enterprise Master Data is the single source of basic business data used across all systems, applications, and processes for an entire enterprise (all departments, divisions, companies, and countries).
Market Master Data is the single source of basic business data for an entire marketplace. Market master data is used among enterprises within the value chain. An example of Market Master Data is the UPC (Universal Product Code) found on consumer products.
Market Master Data is compatible with enterprise-specific and domain-specific systems, compliant with or linked to industry standards, and incorporated within market research analytics. Market master data also facilitates integration of multiple data sources and literally puts everyone in the market on the same page.
Excerpted from Master Data Management for Media: A Call to Action for Business Leaders in Marketing, Advertising, and the Media, a Microsoft White Paper by Scott Taylor and Robin Laylin, January 2010
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