Master data comprises data about basic objects used in business transactions in SAP CRM and stored on a long-term basis, such as data on accounts, products, installed bases, or warranties.
Why do we need it?
If we have to remember and search for data every time while creating business transactions, it would be time consuming and inconvenient. So we create master data- analogy would be in your email box, you create folders and move your emails from inbox to these folders so that when needed, you can easily and quickly retrieve it. These folders are like your email box master data (not exactly representing the SAP crm master data concept but for understanding purpose it would work)
THE MASTER DATA IS THE DATA WHICH CAPTURED FOR ALL YOUR
BUSINESS ACTIVITIES WHCIH IS OF YOUR CLIENT DETAILS WHICH
PERTAINS ADDRESS COMMINICATION DETAILS ETC.... AND THIS IS
USED FOR YOUR REGULAR BUSINESS ACTIVITIES
IT IS ALSO CALLED AS UNIVERSAL DATABASE, WHY BECAUSE WE CAN EASILY IDENTIFY WHICH EMPLOYEE Belongs TO WHICH GEOGRAPHICAL AREA AND WE CAN EASILY IDENTIFY HE IS BELONGS TO WHICH FUNCTIONALITY LIKE MARKETING,SALES AND SERVICES
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