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Master data management (MDM)
Methods and techniques used to ensure that master data, as contrasted with transactional data, remains consistent across computer applications and Web services. In the past, various departments of large companies often maintained their own master data, creating inconsistency problems. For example, when a given department made a name change due to a woman getting married, other departments still had the maiden name. As companies embrace cross-departmental BPM and adopt service-oriented business models, MDM is absolutely essential.