The acronym MDM stands for Master Data Management. It refers to a comprehensive approach to managing an organization's critical data assets, ensuring consistency, accuracy, and accountability. MDM integrates data from different sources, creating a single, authoritative view of key business entities such as customers, products, and suppliers. This process involves data cleansing, enrichment, and governance, which prevent discrepancies and enhance data quality across the organization. Effective MDM enables better decision-making, regulatory compliance, and operational efficiency, maximizing the value of data as a strategic asset.