Question

What term do we use for managing and trusting sources of data?

Answer 1

The term used for managing and trusting sources of data is MDM or master data management. It is a comprehensive method which enables an enterprise to link all its critical data to one file. It  consists of the processes, policies, governance, tools, and standards that determine the management of the critical data of an organization in such a way that it can be a single point of reference. The data which is mastered may include reference data and analytical data. A master data management tool is used to remove duplicates, standardize data, and eliminate incorrect data to create an authentic source of master data.

Answer 2

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Trustable data can be defined as data that comes from specific and trusted sources and is used according to its intended use, delivered in the format and time frames appropriate to the specific users. Trustable data helps in good decision-making processes.