What Is Master Data Management

question 102

Multiple Choice

What is master data management?

• A) Occurs when the same data element has different values.
• B) Occurs when a system produces incorrect, inconsistent, or duplicate data.
• C) Refers to the overall management of the availability, usability, integrity, and security of company data.
• D) The practice of gathering data and ensuring that it is uniform, accurate, consistent, and complete, including such entities as customers, suppliers, products, sales, employees, and other critical entities that are commonly integrated across organizational systems.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.

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A brand of toothpaste known for its dental hygiene products, including varieties that focus on tooth whitening, cavity protection, and gum care.

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A classification of products or services grouped together based on common characteristics, purposes, or consumer perceptions, which helps in organizing offerings and marketing strategies.

Fixed Costs

Costs that remain constant regardless of the quantity of products or services a company produces, including charges like lease payments, wages, and insurance premiums.