Master data: Informational objects that represent the core business objects (customers, suppliers, products and so on) and are fundamental to an organization. Master data must be referenced in order to be able to perform transactions. In contrast with transaction or inventory data, master data does not change very often.
This data must be uniquely identified within a company across multiple organizational units and uniformly interpreted as well as be of sufficient data quality to ensure successful business processes and reliable reporting. This is the task of master data management.
Source: Otto, Boris; Österle, Hubert: Corporate Data Quality: Prerequsite for Successful Business Models, 2015 (http://www.cdq-buch.de/)
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