The acronym MDMR stands for Master Data Management Reference, which outlines guidelines for managing primary data critical to business operations. MDMR policies ensure the accuracy, consistency, and accessibility of master data across an organization, enabling effective data governance. This framework plays a vital role in facilitating better decision-making and improving operational efficiency by providing a single source of truth. Establishing robust MDMR processes helps organizations streamline data management practices, minimize errors, and enhance overall data quality.