Master Data Governance – Effective Procedures for Enhanced Outcomes
In an increasingly digital and data-centric world, the success of enterprise operations depends heavily on the quality and governance of master data. Without clear governance procedures, organizations risk making decisions based on inconsistent, duplicated, or outdated information. Master Data Governance (MDG) is the strategic foundation that ensures enterprise data is accurate, consistent, and aligned across all business units. What Is Master Data Governance? Master Data Governance refers to the set of rules, policies, procedures, and tools used to manage and control an organization’s master data — such as customer, vendor, material, or asset records — throughout its lifecycle. The goal is to ensure that this data remains a single source of truth , used reliably across various systems and departments. Key Procedures for Effective Data Governance Data Ownership and Stewardship Assign clear roles and responsibilities to data owners and stewards who are accountable for data quality a...