Right Master Data management (MDM) provides single version of the truth, MDM is critical to impact business positively. With proper (MDM), you will know exactly what products your customers have, what items you buy from selected vendors and business relations with your customers. Customer’s can be contacted with confidence.

Staff must agree on exactly what constitutes a “customer” or a “partner,” and how to resolve any disagreements across business units. Departments and divisions need to agree on hierarchies of customers and products and how to resolve duplicate records across sources.[1]

Source:
1- Demystifying Master Data Management by CIO.com