What is Master Data?
Master Data is reference data that is maintained within IT Systems that is read frequently, buy unfrequently updated.
Examples of master data include subject areas such as “customer” and “store”.
Another type of data, that is not Master Data, is transactional data such as “order” or “payment”.
One way to remember what master data is is to contrast it to what it is not (transactional data).
The master data will typically be referenced many times from many systems, which is why a specific practice has arisen around Master Data Management.