Master data is a core data that refer to the business information shared across the organization. It consists of the structural and hierarchical reference, which is essential for a specific business. Eventually, it remains constant, but we need it to update regularly. Now a day’s data is valuable. When information is managed correctly, it supports a company to achieve a specific set of goals as master data represents all data, which in return provides quick and accurate access to the data.This article will give an overview of Master Data Management best practices .The information present in the master data varies from industry to industry. Master data comprises three types:
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