What are key differences between MDM and Data Governance?
What are the practical differences in which each of these solutions is applied?
Data Governance is a collection of practices and processes which help to ensure the formal management of data assets within an organization.
Master data management is a technology-enabled discipline in which business and Information Technology work together to codify and ensure the uniformity, accuracy, stewardship, semantic consistency and accountability of an enterprise's official shared master data assets. MDM is the systemic technology that enables and enforces Data Governance.
@Joel Embry thanks for a really simple and clear answer :)
The DG solution addresses mainly business glossaries, policies, rules, meanings, complainces like GDPR, DG worflows, table references, data catalog, data flow (lineage, impact) and data profing; MDM must manage the main data of the business domains (customers, suppliers, products ...) however MDM must provide meanings of terms/semantic and definitions of the master data, so there is an intersection area between both; DG is a umbrella and MDM is focused on specific subset of definitions.
What steps can be taken to address the challenges associated with implementing master data management?