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What is master data and why does it matter?
Master data is the core reference information your business depends on, such as customers, products, suppliers, locations and chart of accounts. It matters because when each system holds a different version of it, reports disagree and joins between systems fail.
Examples of master data problems:
- The same customer under three spellings across CRM, billing and shop.
- Product codes that differ between ERP and e-commerce.
- Branch names that change over time.
Good practice is to decide which system owns each type of master data, keep a mapping table where systems cannot be aligned, and assign someone responsible for changes. You do not need expensive software to start. A well-maintained mapping table in a database can solve most small-company issues.
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