Master data

Hello! Master data is like a list of all the important things that a company needs to know about their customers, products, suppliers, and employees.

Let's imagine that you have a toy box with lots of toys inside. Each toy has a name, like "Teddy Bear" or "Doll", and different characteristics that make it special.

Now, imagine that your toy box is a company, and the toys are like the customers, products, suppliers, and employees. Master data is like a list of all the important information about these things.

For example, if you have a teddy bear called "Teddy", the master data for "Teddy" might include information like his color, size, and age. If you have a customer called "Sarah", the master data for her might include information like her name, address, and phone number.

This master data is really important because it helps companies to keep track of all the important information they need to do business. Just like you wouldn't want to lose your favorite toy, companies don't want to lose track of their important customers, products, suppliers, and employees.

So, that's what master data is - a list of all the important information about the things a company needs to know to do business, just like you have a list of all the important toys in your toy box.