Master data is reference data about an organization’s core business entitles. These entities include people
(customers, employees, suppliers), things (products, assets, ledgers), and places (countries, cities, locations). The
applications and technologies used to create and maintain master data are part of a master data management (MDM) system.
Data governance encompasses the people, processes, and technology required to create a consistent and proper management of an organization's data. It includes data quality, data management, data policies, business process management, and risk management.
Data governance is a quality control discipline for assessing, managing, using, improving, monitoring, maintaining, and protecting organizational information. It is a system of decision rights and accountabilities for information-related processes, executed according to agreed-upon models which describe who can take what actions with what information, and when, under what circumstances, using what methods.