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Governing the core reference records the whole business depends on.
Master data is the slow-changing reference layer — items, suppliers, customers, locations, accounts — that transactions attach to. MDM defines who may create it, in what format, and how duplicates are prevented.
It is unglamorous and decisive. Almost every reporting problem traced to its root ends at a master record that was created twice, coded inconsistently, or never retired.
Data & Systems runs on this vocabulary every day in AWRA OpsHub — 19 of our 257 glossary terms describe things the platform actually does.