What is master data governance?

Master Data Governance refers to the processes, policies, standards, and tools used to ensure the accuracy, consistency, and security of an organization's critical data—often called 'master data.' This includes information about customers, products, suppliers, and other key business entities. Effective master data governance helps organizations avoid data duplication, inconsistencies, and errors, resulting in improved decision-making and operational efficiency. It typically involves collaboration across business units and relies on both technology and strong data stewardship practices.