A challenge within many disciplines is easily to explain what the discipline is about and that certainly is true for Master Data Management (MDM) too as we often have the question: What is master data?
A good short explanation is:
“The description of the who, what and where in transaction data”.
It could also, with help from Wikipedia, be:
“Information that is key to the operation of a business”.
From Gartner (the analyst firm) we have:
“The consistent and uniform set of identifiers and extended attributes that describes the core entities of the enterprise”.
The latter one I would not try on friends and relatives though.
Examples are often a good way to go. Visualization is great too. So, therefore I have played with a mind map of what master data entities may be: