One Customer, Five Systems: What Master Data Management Actually Has to Solve
Five systems each hold a customer record and none of them is wrong. MDM is the decision about what to do with that, not a product that removes it.
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Golden Record
The name suggests a true version that existed all along. What it is: the output of a process, correct exactly to the extent that the process was right.
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Entity Resolution
Matching is a judgment under uncertainty. Merging two different customers and splitting one across two records are both errors, and only one is easy to undo.