Product Master Data Management (PMDM) is a system by which businesses and organizations organize and store information about all the key attributes of their suite of products. Product Master Data Management looks after information such as its category, price, product number, description, and key features for all of a company's products. For example, the product master data management for a cellphone company would include information about all their models, such as their RAM, storage, color, camera megapixels, and so on.
Managing this vast array of information is critical to a company's success. PMDM ensures that every product has all the necessary data points entered, sanitizes categories to prevent overlap or mislabeling and detects and eliminates duplicate data.